Methanol Holdings (Trinidad) Limited (MHTL), a member of the Proman Group of Companies, yesterday announced the completion of a TT $1 billion term facility. The term facility bears interest at a rate of 5.50 per cent per annum for the first 18 months, a statement from the company said.
It added that the term facility has a tenure of three years and is unsecured with interest payable semi-annually.
The TTMA's Ryan Lewis says it's becoming more difficult to do and get business done in Trinidad and Tobago, and government needs to work towards creating a more enabling environment.
According to Ryan Lewis, increased taxes are hurting businesses, and this is combined with the reality that government's business-related processes and procedures are not as efficient as they should be.
The TTMA head is urging government to start doing what is required to create the enabling environment business needs to reignite the T&T economy.
[ARANGUEZ, October 10] — Following a preliminary review of the 2019/20 budget statement, the Employers’ Consultative Association of Trinidad and Tobago (ECA) sees this as a reasonable attempt to assuage the relative impact that successive austerity measures may have had on the country, given the recent trends associated with oil and gas prices over the last five (5) years and its relative impact on our country’s ability to earn related revenue.
Finance Minister Colm Imbert read the 2020 Budget in the House of Representatives Monday.
The theme of the 2020 Budget was 'Stability, Strength and Growth'.
The Minister announced an estimated revenue of $47.749 billion and total expenditure of $53.036 billion, resulting in a fiscal deficit of $5.287 billion.
The budget was based on a projected oil price of US$60 and a gas price of US$3 per MMBtu.