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14th January 2021, 20:42

Gibraltar 'not financially stable' due to Brexit and Covid-19, says Sir Joe Bossano who warns of cuts in public spending

Gibraltar is no longer financially stable because of the disruption caused by Brexit and Covid-19.

This according to the Minister for Economic Development and newly appointed Minister with responsibility for Financial Stability, Sir Joe Bossano, who warned that the situation is 'extremely serious'.

Sir Joe said 'hard decisions' will have to be made on public spending, adding it could be a 'long time' before Gibraltar is able to hold another Music Festival.

Speaking to Ros Astengo, Sir Joe said Gibraltar's economy won't return to 2018/2019 levels this side of the next General election.