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TWO senior economists have said this year's Standard and Poor's (S&P) assessment provides an opportunity for government to take an honest look at the state of TT's finances and set the stage for meaningful economic growth.

In its report, S&P said TT's fiscal and external buffers have eroded over many years, reflecting the limited effectiveness of long-standing efforts to boost GDP growth and strengthen fiscal management.

As a result, S&P revised its credit outlook on TT from stable to negative.