18 Jun 2009

French Polynesian economy will be difficult in 2009 says report

11:22 am on 18 June 2009

A report about the French Polynesian economy says last year was marked by a slowdown which suggests that 2009 will also be difficult.

The report by the IOEM institute, which in charge of issuing the colonial Pacific franc, noted a drop in tourism and the sale of black pearls.

However, it noted that the drop in the value of the dollar eased the cost of energy.

For a recovery to take hold, it says much will depend on the public sector and the return of business confidence.