THE economy of Trinidad and Tobago continues to grow and overall, will be very robust and strong in 2014, Minister of Finance Larry Howai has said.
“The non-energy sector particularly has been very encouraging for us, the non-energy sector has actually grown at a rate of 2.5 per cent which is a strong rate of growth in today’s economy,” he said.
Howai was speaking to customers and banking industry regulators at the Bank of Baroda’s sixth anniversary dinner celebrations at the Regent Star Hotel in Piarco on Wednesday night.
He said: “The growth in the non-energy sector has been able to offset the downturn we experienced in the energy sector because the energy sector itself has been experiencing a downturn as a result of the maintenance works that have been taking place in that sector.
“We had a major turnaround which resulted in significant reduction in the output of the energy sector but overall the economy has continued to grow and we expect next year to show an even stronger rate of growth because most of the maintenance work has been completed in the energy sector.
“We expect the non-energy sector to continue to grow and once the global economy continues to hold up, we expect that the performance of the overall economy will be very strong and robust in 2014.”