We are specifically putting resources in this budget to ensure that the Ministry of Finance has a very strong strategic planning economic intelligence unit to be able to inform the Government and the Minister of Finance of the policy choices.
This was stated by Deputy Prime Minister and Minister for Finance Professor Biman Prasad during the post-budget talanoa session at the Grand Pacific Hotel in Suva.
Prof. Prasad says while a certain level of decisions is made by the politicians, a large extent is the evidence-based policy making that would take the country forward.
The post-budget forum provided an opportunity for the participants to engage directly with the Minister for Finance and raise questions on how the budget would address the country’s major issues.
Some of the questions asked by the participants were regarding the allocation of funds for seaweed farming and climate change mitigation within the Ministry of Agriculture, the proportion of national debt borrowings internationally and domestically, expenditure on the Lautoka swimming pool, reviewing of the national minimum wage rate and its impact on businesses, documentation of the national strategic plan, incentives on renewable energy and the strategies to improve the delivery of service within the civil service.
Prof. Prasad clarified questions raised by the participants and highlighted that the Ministry of Finance is working on strengthening its planning which was one of the things completely broken down over the years.
The post-budget forum was a joint event between the Fiji Commerce and Employers Federation, Fiji Australia Business Council and Fiji and New Zealand Business Council where hundreds of private stakeholders gathered to seek clarifications on the 2023-2024 National Budget.
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