Independent Member of Parliament, Joseph Nand [left] has criticized the 2024/25 national budget saying it is inadequate and lacking in vision.

Independent Member of Parliament, Joseph Nand has criticized the 2024/25 national budget saying it is inadequate and lacking in vision.

While contributing to the debate Nand says despite great anticipation, this is a budget that does not offer much to mitigate the increasing and new cost of living.

Nand says the budget fails to provide significant relief for Fijians.

“On a more worrying note, this budget threatens our economic security and one may say it is delivering more deficit and so more debt. Mr Speaker said, the cost of groceries is up, rents and interest repayments are up too. Unable to maintain its fiscal financial competencies, the Government is borrowing more and generating less.”

He adds that insufficient funds have been allocated to support those struggling with the cost of living.

However, Employment Minister Agni Deo Singh says it is a well-structured and balanced budget

“It is a priority-based budget aimed at meeting challenges, reducing huge government debt, sustaining growth and enhancing resilience against future economic shocks.”

Singh adds that this is what is needed right now to improve the fundamentals of the economy.

Finance Minister Biman Prasad will give his right of reply tomorrow.