Expect the zero rated VAT items to continue and the focus continuing on roads, water and electricity as the Minister for Economy, Aiyaz Sayed-Khaiyum announces the 2022/2023 National Budget on the 15th of July this year.
Sayed-Khaiyum confirmed today that they expect to deliver the budget at 7.30pm on 15th July.
He says the Writ of Elections has not been issued as of now, therefore the Government has to prepare the budget for the new financial year starting on 1st August 2022.
Sayed-Khaiyum says they hope to have the budget approved by the 29th of July.
He says the Writ of Elections and the date of elections is the prerogative of the Prime Minister, and he will decide on that date.
The Minister for Economy says this budget will be premised on our post-pandemic recovery.
He says given the number of medical and fiscal policy measures put in place, we were able to open borders in December, and the numbers look quite good and encouraging.
Sayed-Khaiyum says this was part of the overall plan from last year that the moment the Government has fiscal flexibility, they will be able to get FRA to do the works.
He says there is a lot of positive feedback from the people on the road works, and this is a window of opportunity as this is the dry season.
The Minister also says tourism numbers are looking good, revenue streams from that are looking buoyant and Fiji Airways is flying on good loads
He says they are also looking at other industries.
Sayed-Khaiyum says they need to invest in a clean manufacturing sub-division which has been on the cards for some time. FNPF and other development partners are talking about it with the Government as some countries in the region want manufacturing closer to home.
For the Business Process Outsourcing sector, Sayed-Khaiyum says they have had discussions with a fairly large company that is very keen to enter the Fijian market.
