Ewart Williams made the statement as he updated the nation on the state of the economy.
He said there are signs of a 1.2 per cent growth in GDP for the year, after two straight years of decline. However he said a general strike at this time could jeopardise this growth.
"The largest downside risk is the fragile industrial relations climate which could contribute to work stoppages and possible retrenchment, putting a halt to any resurgence in economic activity," Williams said.
He said there are signs of a 1.2 per cent growth in GDP for the year, after two straight years of decline. However he said a general strike at this time could jeopardise this growth.
"The largest downside risk is the fragile industrial relations climate which could contribute to work stoppages and possible retrenchment, putting a halt to any resurgence in economic activity," Williams said.
He added, "A general strike is the worse possible thing we could face at this time."
The Governor added that the economy is vulnerable state and not in a position to handle "the terrible shock" of a national strike.
"My advice is, whatever you have to do, we cannot afford a general strike. In the current situation, with the fragility of the economy, with all indicators showing a decline in real GDP in the first quarter, with the nervousness that will certainly pervade the international markets now, we cannot afford it," he warned.
Williams also pointed to last week's downgrading of the US credit rating by Standard and Poor's, noting that development could affect economic behaviour in Trinidad and Tobago.
"If we have behaviour similar to what happened in 2009, any hope of a resurgence could be further delayed," he declared.
The Governor added that the economy is vulnerable state and not in a position to handle "the terrible shock" of a national strike.
"My advice is, whatever you have to do, we cannot afford a general strike. In the current situation, with the fragility of the economy, with all indicators showing a decline in real GDP in the first quarter, with the nervousness that will certainly pervade the international markets now, we cannot afford it," he warned.
Williams also pointed to last week's downgrading of the US credit rating by Standard and Poor's, noting that development could affect economic behaviour in Trinidad and Tobago.
"If we have behaviour similar to what happened in 2009, any hope of a resurgence could be further delayed," he declared.
"On the public sector side, given what is happening in financial markets now, we are likely to have some losses. We are likely to have some losses in terms of the Heritage and Stablisation Fund, so I am not saying losses for the year as a whole, but certainly after eight consecutive days of declining stock markets, we have 35% of our HSF invested in equities. We are likely to see some losses here," Williams said.
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