Tighten up spending on ongoing projects.
This is the advice from ADB South Pacific Sub-regional Director Keith Leonard who said the report compiled by the Asian Development Bank on the impact of the world financial crisis on Pacific Developing Member countries, raised serious concerns on Fiji's economic situation.
Leonard said Fiji can help itself by ensuring that projects are completed on time and within budget.
The report raised concerns on Fiji's economic situation stating with low tourist numbers, drop in remittances, low investor confidence coupled with the global financial downturn, there will be a drop in GDP for 2009.
Emma Ferguson of the Pacific Sub-regional Office said the low rate of economic growth partly reflects the impact of the coup, and the lack of progress toward elections has led to a reduction in assistance from traditional donors and multilateral agencies.
She adds a significant improvement in prospects depends on a return to elected government and on reforms to encourage investment.
Feature
Tighten up spending on ongoing projects-ADB
