Mariano Browne

money talk: Business consultant Mariano Browne, from left, economist Roger Hosein, former planning minister Dr Bhoe Tewarie and former energy minister Kevin Ramnarine chat before the start of the post-budget consultation at the University Inn and Conference Centre on Tuesday night. 

ECONOMIST Roger Hosein praised the Government for its fiscal prudence over the past few years and said he was very comfortable with the state of the economy, up until last Monday’s budget

“I think the Government did a good job in controlling expenditure. This represents fiscal prudence, batting in your crease. I think the minister (of Finance) did a good job in that regard,” Hosein told participants at a post-budget consultation at The University Inn and Conference Centre in St Augustine last Tuesday night.

“The State’s efforts at containing fiscal expenditures relative to the $62.4 billion in the past is appreciated and shows solid fiscal discipline. Implicitly, this expenditure level indicates that for the five years we have ‘saved, not spent’ approximately $10 billion per annum on average giving a rough amount of around $50 billion. This is remarkable and should be commended by all citizens of T&T.”

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This week, we at Bourse review the financial performance of MASSY Holdings Ltd (MASSY) for the year ended on September 30, 2019.

MASSY Holdings Ltd (MASSY)

MASSY Holdings Ltd (MASSY) reported a Basic Earnings per Share (EPS) of $5.76 for the full year ended September 30, 2019, an 8.3 per cent improvement over the reported 2018 figure of $5.32. Group Revenue remained relatively flat, increasing to $11.6b for 2019 (up 0.4 per cent). 

FINANCE Minister Colm Imbert is assuring that the Office of Procurement Regulation would still have the power to investigate government-to-government arrangements after Government makes “slight” amendments to Section 7 of the Public Procurement and Disposal of Public Property Act next month.

A CALL has been made for Government to take immediate action on campaign finance reform and implementing the public procurement legislation.

Without these two pieces of legislation, says the Trinidad and Tobago Transparency Institute (TTTI), this country’s scoring on the Corruption Perception Index (CPI) will remain stagnant.

Publicly listed TTNGL’s profits declined last year because the international prices of its three products—natural gas liquids propane, butane and natural gasoline—have tumbled, said Dominic Rampersad, president of Phoenix Park Gas Processors Ltd (PPGPL) yesterday.