JERSEY has “resilient” public finances and is well positioned to deal with economic volatility stemming from “current global uncertainties”, according to the Treasury Minister.
Deputy Elaine Millar also sought to reassure Islanders that Jersey has “long-term reserves of a scale that very few jurisdictions can match”.
Her comments come after US President Donald Trump’s tariff regime stirred up turmoil throughout financial markets, with External Relations Minister Ian Gorst recently warning that a “potential global recession” could lead to increases in inflation and interest rates.
In a statement, Deputy Millar said: “Whilst recent days have seen significant economic volatility across the globe, Jersey is well placed to face these challenges.”
She continued: “We have a successful economy and long-term reserves of a scale that very few jurisdictions can match.
“Underpinned by these reserves, the public finances have proved to be remarkably resilient in the face of the events of recent years.”
Deputy Millar added: “Faced with current global uncertainties, Jersey is best served by prioritising investment in infrastructure that benefits and stimulates the local economy, enhances the wellbeing of Islanders, and contributes to Jersey being a vibrant place to live and work.
“I can assure Islanders that Treasury remains committed to improving investment in the Island’s infrastructure and, in particular, to financing the new hospital facilities at Overdale and Fort Regent.”
