GUERNSEY’S economy will stand still this year, according to the Treasury and Resources Department.

In the latest quarterly bulletin minister Charles Parkinson (pictured) said the forecasts for Guernsey’s economy pointed to a difficult year for the island, but it is hoped that things will pick up in the second half of 2010.

It follows forecasts published earlier this year that predicted the final 2009 figures would show a slight downturn.

‘Both outturns – a mild downturn in 2009 followed by zero or weak growth in 2010 – should be contrasted with events elsewhere amongst our large and small neighbours and that relative picture should be viewed in a positive light given the quite unprecedented negative global conditions we have just experienced,’ said Deputy Parkinson.

‘However, if global conditions continue to improve, we are likely to see our own forecasts being correspondingly revised upwards.’

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