Sometimes, we cannot take what our politicians say at face value. So it is with Finance Minister Colm Imbert.
He stated in his 2020 budget presentation that Trinidad and Tobago has “the lowest inflation rate in the world.”
This was according to the Global Competitiveness Report (GCR) 2019.
What he failed to mention is that 88 other countries were given a score of 100 and ranking of one, for their inflation rates. Additionally, the inflation rates varied widely.
For example, T&T’s inflation rate was 1.5 per cent with a ranking of one, Japan’s inflation rate was 0.7 per cent and they got a rank of one, Jordan’s inflation rate was 3.9 per cent and they also got a rank of one, in the Global Competitiveness Report 2019.