There will be no stop and re-start budget measures, there will be no knee jerk investment measures – Prof. Prasad

Our national budget must be founded on two core principles – transparency and stability. There will be no hidden messages; there are no hidden resources. You must know and be able to see where we are on the fiscal recovery pathway. You must be able to see that all our policies and programs are as transparently costed as possible. Trust flows from that.

That is the message from Deputy Prime Minister and Minister for Finance, Professor Biman Prasad during the Annual Congress of the Fiji Institute of Chartered Accountants in Nadi. He says all their programmes arise from the deep conversations with citizens, businesses and communities.

Professor Prasad says there will be no stop and re-start measures, there will be no knee jerk investment measures, and their responses present what they think is the right balance between revenue, expenditure and their direction of travel in the difficult context.

He stresses that at the heart of the budget this year, as in the last will be investments that demonstrate their fundamental commitment to all the regional institutions, to our regional architecture.

Professor Prasad says the Blue Pacific region with its market size of nearly 20 million people combined offers a fantastic potential for growth and opportunity.

He says this is why Deputy Prime Minister, Manoa Kamikamica led trade missions to Tonga and to PNG recently.

Professor Prasad also invites and welcomes these countries to bring their trade missions to Fiji.

The Deputy Prime Minister says the growth of a Pacific centred economy will depend in part on how speedily we make progress on that.

He adds there is no reason why Solomon Islands logs cannot be processed in Fiji rather than in distant Asia.

Professor Prasad says when we pool our talent, financial and human resources as well as the combined market power, we will be able to grow whole new industries that are simply not possible at national levels.

He says we are beginning to see regional health facilities emerge – not because of deliberate Government policies but because health providers and entrepreneurs are solving a problem – of Pacific islanders being unable to afford specialist health care in Australia, New Zealand and elsewhere.

He adds a more regional approach to tertiary and specialist healthcare is such a win win zone for our region.

Professor Prasad says we need to build a fully integrated regional economy in which talent flows within the region – from Tonga to Fiji – from Fiji to PNG – from PNG to Solomon Islands.

He also says imagine if our importers were bulk-purchasing Panadol for the whole region – rather than the current practice of small importers buying small quantities for small markets.

Professor Prasad says imagine if as group of countries could secure better trade deals with other large Asian markets.

He says the benefits will flow.