crop.jpg)
Treasury Minister Allan Bell says the Isle of Man is weathering the worldwide economic turmoil well.
Analysts in the United Kingdom say the recession there is one of the worst economic downturns for 50 years, but a UK newspaper has praised the Island for riding out the storm.
On Mandate, Mr Bell said it hadn't entirely escaped the effects of the credit crunch and the recession biting into the world economy.
But it was doing relatively well, and its economy was still strong:
Treasury minister 'hopes' businesses will pass on VAT reductions to customers
Falling from 20% to 5% for certain activities over summer
TT 'massive' for hospitality industry
Local businesses prepare for race week
Hopes summer VAT cuts will ease cost of living pressures for families and businesses
IoM Government mirrors UK action
'The TT is our crown jewel' says caterer
Hospitality vendors praise look and atmosphere of The Grandstand
