It’s not an economic crisis-Remengesau

Remengesau told reporters the world is facing energy crisis and this does not mean an economic crisis.‘There are companies that are doing very well,” Remengesau said.He said that fuel supplier, gas stations are businesses that are thriving.This was in reaction in the so-called sentiment by businesses during the “reality check” hearing conducted by the Senate last week.Business owners said that there is an economic crisis and that the government has to address the situation.The energy crisis however has a domino effect resulting to an increase in price of goods and other services.“This is a worldwide crisis and every nation on earth is being affected by it. But for islands like ours with limited money and resources, the effect on our people and our businesses is far greater than in other nations,” Remengesau said.The president said that the Senate does not need a reality check to figure out that it must pass the numerous bills pending before them to help generate income for the country.