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The final year of the crisis 

 

Business chiefs are predicting some good and bad news on the economic front for 2013.

The CEOE-Tenerife expects this year to be the final one for the crisis in the Canary Islands. Even so, the Provincial Confederation for Businesses anticipates that unemploy-ment will still go up by around 40,000, especially in the first half of 2013, and the jobless rate could hit as high as 34.8%.

The predictions were made by CEOE-Tenerife president, José Carlos Francisco during a press conference to report on the last quarter of 2012 and the outlook for this year.

Although the organisation expects unemployment to rise in 2013, it believes the situation will improve in the last months of the year when new jobs might start to be created.

It is hoped that after six years of the crisis, banks might start to lend money again.

Tourism prospects for 2013 are seen as good though arrivals might drop by 3.2%. Good air connections and upgrading of tourism areas would be vital.