Economy predicted to recover 3.2% this year

Tuesday 19 January 2021

Standard and Poor’s has predicted that Jersey’s covid-hit economy will recover by 3.2% in 2021 as islanders get vaccinated, and business activity properly restarts.

The forecast came as it confirmed Jersey’s credit ratings would remain unchanged at AA-/A-1+ following a six-monthly assessment process.

In its report, S&P said its ratings were based on Jersey’s “strong and flexible institutions, wealthy economy and considerable fiscal buffers”.  

Treasury Minister Deputy Susie Pinel, said: “We are pleased that our credit ratings remain unchanged, and that S&P recognises the value of Jersey’s policies, aimed at helping economic activity to recover. 

“We are, however, very aware that in responding to the current health emergency and the impact this has had on our economy, we will be running deficits over the next few years, although these deficits will be offset by returns on our significant assets.”