The Gozo Regional Development Authority (GRDA), in collaboration with Oxford Economics, has launched a macro-economic model of the Gozitan economy and also submitted its proposals for the upcoming budget.

Through this model, the GRDA said that it will be able to produce a forecast of important variables such as employment and tourism growth in Gozo.

The GRDA explained that it will also be in a position to model regional policies and assess how they will impact Gozo, thus putting the Authority in a strong position to formulate robust and evidence-based decisions proposals.

During this first Regional Economics Conference, Oxford Economics presented an overview of the models while Mr. Mario Borg, CEO of the GRDA, presented the salient results as well as some proposals for the next budget which include:

• Realignment of the reduced stamp duty on residential property with Gozo’s socio- economic and environmental needs,

• Ringfencing of revenue from the tourism eco-contribution to Gozo,

• The compilation of regional input-output tables for Gozo which would allow policy and decision-makers as well as researchers to form a more comprehensive view of Gozo’s distinctive characteristics.

The document is available for download by clicking here.

Photo: GRDA

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