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Trinidad to lose $1B as energy prices fall



By AP
21 November 2008 @ 10:08 am EST

PORT OF SPAIN, Trinidad - The prime minister of energy-rich Trinidad has told its citizens to expect cuts in government programs because of an anticipated loss of $1 billion due to the fall in prices of crude oil, natural gas and petrochemical products.

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Prime Minister Patrick Manning told his country in a televised address Thursday night that specific budget cuts will be announced next week. He suggests that promotion, publicity and printing materials will be cut first, along with development projects that haven't begun or that still await contractual obligations.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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