Arjoon: Urgent need to raise funds

Economist Dr Vaalmikki Arjoon says the new United National Congress (UNC) admi­nistration has inherited a “messy and worrying fiscal landscape”, following Prime Minister Kamla Persad-Bissessar’s announcement of a $4.42 billion deficit in May and a projected $11 billion deficit for the fiscal year.

On Thursday, the Prime Minister spoke of the deficit she said was left by the former People’s National Movement (PNM) government, which left Trinidad and Tobago in a deep financial hole.

She warned that given the high levels of deficit and debt, this is likely to adversely affect the country’s ratings from credit rating agencies.