Faroese business council calls for clarity on transport budget cuts

The chair of the Faroese Business Council has demanded answers from the transport ministry on how planned budget cuts will be implemented, following the announcement of the first austerity package under Prime Minister Beinir Johannesen.

Johnny í Grótinum, the council’s chair, told Kringvarp Føroya that only two or three of the 16 agencies under the Finance Ministry are currently profitable. He acknowledged that the business situation is generally strong, with prospects for sustained growth, but warned of a major challenge to the broader economy.

He also questioned the efficiency of all agencies and noted that the first austerity measures have now been introduced. Additionally, he stressed the importance of a new long-term budget plan once a new transport minister is appointed.