The Consumer Council of Fiji is elated with the fact that the 2022/2023 Budget largely focuses on policies to address the growing cost of living, rebuilding national resilience and catalyzing reforms to drive socio-economic recovery activities and the national development agenda.
They have commended the initiatives announced in the budget and CEO, Seema Shandil says once implemented, the budget will promote spending and consumption by both consumers and businesses.
Shandil says incentives and policies such as $180 payout to pensioners over the next 6 months, 10% bus fare subsidy across the board and around $30 a month per child for a 6-month period will provide the much-needed buffer and relief to consumers –effectively ensuring consumers have more disposable income on hand.
She further says consumers are already feeling the brunt of global inflationary pressures which are forcing them to cut back spending, even on some essentials.
Shandil says they continue to encourage consumers to maintain basic budgeting principles and prudence.
She also says there is an incentive to spend, but there is equally a greater incentive to save.
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