Thursday, July 13, 2023 - 11:30

Gibraltar Chamber of Commerce responds to 2023 Budget speech, stresses the need for controlled spending and support for private sector

The board of the Gibraltar Chamber of Commerce has considered the Chief Minister’s budget speech. Overall, the Chamber is pleased that the Government has listened to persistent requests by the Chamber to rein in spending and not give in to repeated requests for ever-rising recurrent expenditure, particularly when based on borrowing as this is unsustainable.

The Chamber is heartened by the increased forecast in GDP to 7.5 per cent per annum for the year 2022-23. This is a return to the annual growth trend seen over the last 15 years or so.
On one level Gibraltar is blessed to have virtually zero unemployment and to have achieved record levels of registered jobs so soon after the ravages of the COVID pandemic.