Ritika Pratap 
[File Photo]
Dialogue Fiji Executive Director, Nilesh Lal has commended the national budget’s balanced approach to fiscal management, highlighting the government’s commitment to driving the economy while addressing the needs of various sectors and stakeholders.
Lal says contrary to speculation, the government has generally refrained from implementing extensive austerity measures to bolster revenue generation, apart from the increase in VAT to 15% and the increases in corporate tax.
He adds by avoiding significant spending cuts, the government has recognized the importance of proportionate state spending in a state-driven economy like Fiji’s.
However, Lal stresses it is very integral that spending efficiency is increased, to maximise returns on every taxpayer dollar spent.
He says the budget is an articulation of the new government’s economic management approach, taxation philosophies, and development approach, and it should dispel the uncertainties in the market that have cost our economy dearly in recent months.
The Executive Director stresses it should put an end to the negative speculation and there is also a need to end the negative, often politically motivated rhetoric surrounding the sustainability of Fiji’s sovereign debt, as well as the doom and gloom scenarios that have hindered investor confidence.
