Praneeta Prakash 
The economy is experiencing a notable rise in confidence, driven by recent fiscal reforms and strategic economic planning, says Deputy Prime Minister and Finance Minister Professor Biman Prasad.
He highlighted this while reflecting on achievements from the past two years.
Professor Prasad also stressed the government’s commitment to fostering sustainable growth, enhancing investor confidence, and prioritizing the welfare of Fijians through proactive economic policies.
He also highlighted key government initiatives designed to uplift various sectors, including agriculture, social welfare, and infrastructure.
“We are likely to revise our growth forecast. The macroeconomic committee is looking at it. But my gut feeling is that we would have a growth rate of close to 3.5%, 3.6%, 3.7%, or even 4% by the time we actually finish this year. So in 2024, we could be hitting a growth rate of close to 4%. And that shows the confidence in the country with respect to investors. That shows the trust we have built in terms of the formulation of the economic policies in the last two budgets.”
The Finance Minister also expressed optimism about Fiji’s economic performance this year, projecting an annual growth rate potentially reaching 4 percent.
He says this projection follows the government’s revised forecast of 2.8 percent, taking into account anticipated fluctuations in tourist arrivals.
He adds that recent data suggests tourist arrivals may exceed expectations, and the government may need to adjust its growth forecast upwards.
With almost two years in government, Prasad acknowledged that more work remains to be done, but he affirmed the government’s dedication to seeing through their initiatives in the coming years.
