Sivaniolo Lumelume 
The Ministry of Finance is intensifying its efforts to cut the national deficit and optimize government spending.
This strategic approach aims to invigorate investment, propel GDP growth, and gradually lower the debt-to-GDP ratio to sustainable levels.
Deputy Prime Minister and Minister for Finance, Professor Biman Prasad says the government remains committed to fiscal responsibility.
He states that this commitment is manifest in a two-pronged strategy: augmenting revenue streams and decisively reducing the deficit.
This dual approach will create the necessary fiscal space for critical development initiatives.
Deputy Prime Minister and Minister for Finance, Professor Biman Prasad
Prasad highlights that newly implemented government policies have significantly contributed to increasing revenue, laying the groundwork for economic expansion.
“We reduced the deficit, we looked at the revenue side, we strengthened the revenue side, and we have put in policies that are expanding our GDP, and through those three policies, we have reduced the debt-to-GDP ratio now below 80 percent.”
The Fiji Revenue and Customs Service has already reported a net revenue collection totaling $1.169b at the end of the first four months of the 2024-2025 fiscal year, exceeding its forecast by $105m.
Professor Prasad further adds that adopting sound fiscal policies and strategies enhances the government’s capacity to secure financing when necessary.
