Governor of the Reserve Bank Barry Whiteside says 2014 is the fifth consecutive year of growth for Fiji.
While speaking at the Budget Forum organized at the Grand Pacific Hotel, Whiteside highlighted that consumption spending remains upbeat and investment spending is also robust.
For the last two years the Fish Industry is not doing too well.
He says fishing and mining are showing negative positions.
He adds Private Sector investment is leading the way again.
Business sentiments for consumption and investment are positive.
He says commercial banks lending continues to accelerate as bank lending rates remains low.
Whiteside says imports continue to outpace exports as over the last decade all import categories increased while export performance was mixed.
Tourism and remittances continue to increase and perform better than expected.
Whiteside says widening trade deficit is a concern but current account deficit is helped by services and transfers.
He adds inflation remains low and foreign reserves are at comfortable level because the RBF has implemented a number of policy measures to support growth
He further states that elections and return to Parliamentary democracy sees heightened confidence.
He says that there is potential European Union funding for the sugar industry and the continuation of infrastructure spending on roads, ports and airports.
He says the economy is on target to achieve the 3.8 percent growth target.
Stay tuned for the latest news on our radio stations
