Unilever Caribbean Ltd, one of the largest consumer goods manufacturers in the English-speaking Caribbean, sees no sign of economic recovery in Trinidad and Tobago in the short term, according to a statement from the chairman.
“The headwinds we have seen in 2016 are expected to continue in the coming year in Trinidad and Tobago, with the economic environment showing no sign of recovery in the short-term.
Regionally, we do expect some strengthening in other Caribbean territories as we continue to push efforts into building in these markets,” said Unilever Caribbean chairman Pablo Garrido.
He said: “The current foreign exchange climate continues to be a key concern. With no foreseeable improvement in the availability of forex in the near future and the gradual depreciation of the TT dollar, we do expect to see sustained cost pressure.”