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Financial News

Sep 2009 Financial News

Stimulus is key

Sep 03, 2009

Any stimulus package included in the 2009/2010 national budget to assist the private sector will be welcomed by the business community.

Business people would like to see the Government introduce initiatives to assist small and medium-sized enterprises develop new markets outside the Caribbean, Angella Persad, president of the Chamber of Commerce, said yesterday.

Persad was addressing questions about the Chamber's budget wishes following the conclusion of a graduation ceremony held for participants who completed the 2009 Jump Start programme. The ceremony was held at the chamber's offices at Westmoorings.

"We hope to see something in the budget that will assist the private sector in getting new markets. I hope there will be some assistance to the private sector in terms of facilitating and (helping them) access new markets. That will assist us in marketing our products outside of the Caribbean region to areas in Latin America, Central America," Persad said.

The chamber also wants to see Government do more to diversify the economy "outside of energy to sectors that have little correlation to the energy sector".

She said the chamber will be paying close attention to the projects Government chooses to prioritise in the budget which will be presented by Finance Minister Karen Nunez-Tesheira in the Parliament next Monday.

Persad also said since Nunez-Tesheira has indicated it is going to be a deficit budget, Government should come up with "some sort of plan as to how to get out of the deficit".

Article by: Rohandra John
Source: Trinidad Express
Date Published: Wednesday, September 2nd 2009