10 Nov 2009

New Caledonia's economy is vulnerable says economist

12:06 pm on 10 November 2009

An economist looking at New Caledonia's development says the territory's economy is vulnerable.

Elodie Maitre d'Hotel made the comment to Noumea's daily newspaper ahead of a conference based on a study by the French Development Agency.

She says the assessment found that the economy is exposed to the fluctuations of the nickel price and that the territory consumes its wealth faster than it manages to create it.

The report evokes a possible diversification by promoting agriculture in part for New Caledonia to become self-sufficient in food.