Prominent lawyer, Richard Naidu says Minister for Economy, Aiyaz Sayed-Khaiyum should listen to the legitimate concerns raised about Fiji’s economy and debt level by economists like Doctor Neelesh Gounder and Professor Wadan Narsey, and respond a little bit more rationally.
Naidu says Doctor Gounder did not say that Fiji was like Sri Lanka and was trying to point out the situation that Sri Lanka was now in and to say there were warning signs for Fiji and we needed to take corrective action accordingly.
He says he does not why Sayed-Khaiyum is so sensitive to other people commenting on his economic management.
Naidu says Sayed-Khaiyum and the FijiFirst Government has added $6 billion worth of debt to bring it close to $10 billion in the last 10 to 15 years. He says this was done to keep the economy going but that is not what you do.
The Suva lawyer says the economy was already going down in 2019 but everything is now being blamed on COVID-19.
Naidu says the particular problem with Government borrowing is if it is not well managed, you are throwing money away and leaving future generations to pay the debt back.
