The Finance Minister remains confident that the current fiscal year will lay the foundation for the foreseeable future of the economy.

Professor Biman Prasad notes that government ministries and stakeholders are gradually but steadily utilizing their respective allocations from the $4.3 billion fund.

Prasad says the government is projecting a revenue of $3.7 billion to be generated.

The Deputy Prime Minister emphasizes the importance of instilling confidence in the public, asserting that the measures and allocations outlined in the current budget chart the course for the country’s progress.

“To make sure that the economy grows, more jobs are created, salaries and wages are increasing, and we have also promised that the minimum wages would be reviewed, with the Ministry of Employment together with the Planning Office is working on it.”

Prasad suggests that the rising demand for labor in the formal sector will drive the momentum for a surge in wages and salaries, mirroring the current trend observed in the tourism industry.

“Other sectors are losing some of their workers to the tourism sector, so obviously if someone is moving from Suva or Ba to Nadi because they have got a better paying job, employers will have to think twice and some of them are increasing the salaries and wages.”

Prasad’s second in command says Fiji’s economic rebound is well on track overall.

The Finance Minister says the economic outlook is promising judging by the past three months with tourism sector continuing to pave the way forward, aiding sustainable growth and development while also assisting the most vulnerable in society.