Fijian economy forecast to expand by 3.2 percent - RBF

The Fiji economy has shown great resilience so far and is forecast to expand by 3.2 percent this year.

In a statement, Reserve Bank of Fiji Governor Barry Whiteside said this is supported by strong consumption and investment expenditure.

Whiteside said sectoral performances are generally positive with the sugar, tourism, timber and garment sectors experiencing increased output while the gold and fishing sectors show declines.

Whiteside said there is further improvement in business and investor confidence and there is expected to be a continuation of the strong economic activity well into next year.

Whiteside said inflation was noted at 1.9 percent in July while foreign reserves are around $1.834 billion today, sufficient to cover 5.1 months of retained imports of goods and non-factor services.


Story by: Sofaia Koroitanoa