Premier Responds to 2018 Bermuda Business Confidence Index

Premier and Minister of Finance, David Burt today commented on the 2018 Bermuda Business Confidence Index which was released last week.

In a statement released this afternoon, he noted that the report “highlights economic and external factors impacting Bermuda businesses and the confidence in Bermuda’s business environment”.

“This is one snapshot in time and provides an opportunity for Government and business to work together to continue to strengthen our economy,” said Mr Burt.

The first quarter results show:

Government revenues are up
Government spending is down
The deficit is down by 24%
Visitor air arrivals are up; and
Employment in the economy is up

“Is everything perfect? No. We still have a long way to go,” said Premier Burt.

“This Government is committed to working with local and international companies to grow the economy and create jobs for Bermudians.

“In the 2018-2019 Budget Statement, I stated, ‘Bermuda’s economy is in desperate need of economic diversification as a means to provide additional jobs and careers for Bermudians’.

“The Government will ensure that Bermuda is poised to meet new demands and will be aggressive in reaching out to new global areas of growth.”

The Premier concluded: “The Business Confidence Index is one benchmark for Bermuda. We can measure our future successes against where we stand today.

“We have a joint responsibility to work together to improve economic growth and diversification, to create business opportunities and jobs for Bermudians.

“My door is open. I am available to hear the concerns of the business community with a view to finding solutions together.”