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Department of Labor and BSP say Guam economy should continue expanding in FY26 amid military and tourism gains, but structural fiscal and workforce issues merit
Summary
Department of Labor (read statement by Chief Economist Gary Hiles) and BSP presented an economic outlook that anticipates continued expansion in FY26 driven by tourism, construction and DoD personnel increases; UOG economist Dr. Rosanna Jones cautioned that Guam faces structural fiscal challenges, including a tax gap and declining labor‑force
Christian Valencia of the Guam Department of Labor read a statement by Chief Economist Gary Hiles summarizing the FY26 outlook. The statement said Guam's economy is expected to continue expanding and recovering from the pandemic into FY26, driven by increased tourism, construction and the arrival of additional DoD personnel. Hiles' statement cited new retail and telecom investments (Bank of Hawaii branch opening, grocery chain openings,…
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