Diversification Needed

January 2008 | Ratings Update

In a January address, Patrick Manning warned that Trinidad and Tobago would fail to reach developed country status by 2020 if its energy sector-dependent economy was not properly diversified. We share this sentiment, and are looking for direct action from the government to encourage greater investment flows in the non-energy sector. The government must also look to boost spending on education to improve medium-term diversification. Education spending currently stands at a paltry 1.5% of GDP.

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