The government is targeting to have the longest period of sustained economic growth since Fiji’s independence in 1970 if it achieves 3.6% economic growth this year.
Minister for Economy Aiyaz Sayed-Khaiyum says despite Cyclone Winston Fiji recorded 2% economic growth last year.
This means Fiji has had 7 years of consecutive economic growth.
Sayed-Khaiyum says the right economic course is being taken for Fiji.
He says the tourism sector reached a new milestone with record arrivals in 2016 while the businesses expect retail sales to grow in excess of 8% in 2016.
The Minister for Economy says the construction, mining and electricity sectors also had increased activity, and all this shows strong confidence in the government’s policies.
Inward personal remittances also rose by 10.2% to a record $541.8 million following the 28.3% growth in 2015.
Sayed-Khaiyum says spending remained high for the private sector credit expanding by 12.9% demonstrating investor confidence while the RBF job advertisement survey showed a growth of 15.1% last year.
He also says that a number of infrastructure projects are also planned for this year for better facilities and services for the people.
Sayed-Khaiyum says they are also looking at projects aimed at providing low cost housing to people.
NFP Leader Biman Prasad raised concern about increased government borrowing.
He also says that a lot more needs to be done to bring investor confidence and ensure that there is more ease in doing business in Fiji.
Prasad also says that the government needs to look at the National Minimum Wage Rate.
