CEOE: "The Government of the Canary Islands collects more than ever and does not invest"

"The Government of the Canary Islands collects more than ever and invests less than ever." This is how the president of the CEOE of Tenerife, Pedro Alfonso, spoke this Tuesday, who has criticized the lack of investment by public administrations in general, and specifically in the Autonomous Community.

In statements provided by the Tenerife business association, its president has described as "worrying" that, according to the data from the Consumer Price Index (CPI) released by the National Institute of Statistics, the underlying inflation in the Canary Islands is 8%, something "expected, but not exempt from a rather complicated analysis."

Pedro Alfonso has assured in this regard that the Canary Islands has a problem with sustained growth and with the excess of collection, which coincides simultaneously with a lack of investment by public administrations, which he has singled out in the regional Executive.

This situation cannot continue to be maintained over time, continued the president of the CEOE of Tenerife, since the European Central Bank "threatens" to continue raising interest rates, which will "cool the economy at some point, without a doubt."

This may lead to many projects being slowed down and that a large part of the expectations of job creation and recovery "remain stored for later", Alfonso said.

According to the data released this Tuesday, the interannual inflation rate rose in February in the Canary Islands from 6.5% to 6.8%, becoming the second highest in the country, driven by the increase in food prices, which have soared 18% in the last twelve months.