Ritika Pratap 
[Source: Rotary Club of Suva/ Facebook]
Deputy Prime Minister and Minister for Finance Professor Biman Prasad says for the first time, the Coalition Government returned Fiji to a level of confidence that was not there for many years.
Speaking at the Rotary Club of Suva business lunch meeting Professor Prasad says since the last budget, he has seen this in discussions with the business community, nongovernmental organisations and development partners.
Prasad says when governments are funded properly, and project their expenditure, revenue, debt and deficit close to what is achieved, it gives confidence to everyone.
[Source: Rotary Club of Suva/ Facebook]
He highlights they have managed to bring the debt-to-GDP ratio down to 77.8 per cent in July.
The revenue measures, Prasad says that had been put in last year and this year, managed to create a very stable revenue situation for the Government.
“For the first time, and this is history for Fiji, our 2023-24 tax collection was recorded at $3.1 billion exceeding the forecast $68 million (2.3 per cent) breaking the $3 billion mark.”
Deputy Prime Minister and Minister for Finance Professor Biman Prasad [Source: Rotary Club of Suva/ Facebook]
Professor Prasad says two things are going forward, if they have ambitions of becoming a rich country in the next 25 to 30 years, then business as usual will not do.
“Look at the road trajectory of the 70s and the 80s and look at what has happened in the last 30 years. It has more or less been like business as usual where growth trajectory has remained below 5 per cent (between 3 to 4 per cent) at the most.”
Prasad says Fiji’s national development plan, which will be launched on Tuesday by the Prime Minister will provide more details on the government’s vision.
