Fish farming boosts Faroes population
IT is a country whose population has just passed the 50,000 mark – around the size of Inverness in Scotland – but the Faroe Islands has published an upbeat budget, thanks in large part to its growing fish farming industry. The finance minister, Kristina Háfoss has pledged to put more money into fishery and aquaculture research as part of her fiscal strategy. The government expects a surplus of 330 million Danish kroners next year.
She said that with an unemployment rate of only two per cent and a growth of seven to eight per cent, the Faroese economy was performing exceptionally well.
Sea farming, pelagic fishing and construction industries had made the most progress and the population had passed the 50,000 mark at the beginning of April thanks to fewer emigrating and more expats returning.
The prime minister, Aksel V. Johannesen, said: ‘Reaching 50,000 is a true milestone... Exit Faroes has now become Enter Faroes. Many who have studied and lived abroad are returning.’