Rock of splurges as Spanish shoppers relish pound slump
The fall in the pound has boosted trade in Gibraltar as neighbouring Spaniards flock to the Rock territory where their Euros buy them more, Chief Minister Fabian Picardo has said.
Gibraltar's stores and supermarkets are filled with Spanish people picking up their weekly shop.
While the pound's 168-year low is hitting the spending power of those living and working in Gibraltar, it has enticed over many Spaniards who are cashing in on the relative strength of the euro, Mr Picardo said.
He told the Press Association: “A devalued pound is good for Gibraltarian exports, so from the point of view of the public finances of Gibraltar we are not doing badly.”
“You'll see there will be a lot of products sold in Gibraltar, we see more Spaniards come into Gibraltar to buy things.”
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