Dr. Terrence Farrell – Economic Outlook for 2023

An Economic Outlook for 2023 as presented by Terence Farrell, (Ph.D., LL.B, LEC) former Deputy Governor of the Central Bank of Trinidad and Tobago, and former head of the Economic Advisory Development Board at the National Conversation hosted by UWI’s The Trade and Economic Development Unit on January 27, 2023.

His summary assessment is that Trinidad and Tobago will experience low growth in real GDP in 2023 mainly from the non-energy sector driven by higher government spending. He commented that “GDP current prices will grow more strongly because prices will be higher. The external accounts will be in balance. Inflation is going to rise, but the rate of change is going to decelerate in the second half, although the removal of subsidies if affected, will contribute to higher measured inflation”.

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