30 Mar 2009

Gloomy economic outlook for Samoa, but tourism holding up

6:11 am on 30 March 2009

The President of Samoa's Chamber of Commerce, Sina Retzlaff-Lima, says the picture of the economy painted by Central Bank of Samoa at an economic summit is gloomy.

She says the Bank predicts a recession by June and a decrease in production across all industry sectors.

But she says on the other hand, some positives did come out of the Bank's presentation.

"But what is coming through, is that tourism, in Samoa has increased in the last 30 days and private remittances has also increased, they are a minor two percent increases, but it is still not a decline yet out of the two major components that input into our economy."