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AS businesses around the country continue to close their doors, Finance Minister Davendranath Tancoo has blamed the former People’s National Movement (PNM) administration, arguing that its policies led to a 20% contraction in the economy.

Asked what he would say to business owners struggling to stay open, the Finance Minister yesterday declined to respond directly.

In a WhatsApp response to the Express, he said, “In regard to the economy, I have repeatedly publicly stated that the economy inherited by this Government almost a year ago had contracted by 20% as a result of the PNM policies and decisions. I don’t recall any media houses raising similar concerns with the then-minister of finance,” Tancoo said.