Kirisitiana Uluwai 
The Coalition government states that the economy is in a recovery mode and is therefore positioned to rebuild its fiscal buffers through a strategically crafted fiscal consolidation plan.
The 2023 – 2024 national budget reflects governments focus towards enhancing fiscal sustainability by reducing fiscal deficit and putting the debt to GDP ratio on a downward trajectory.
The enhanced tax policies announced has been geared towards restoring revenues to pre-pandemic levels without introducing any new taxes but restructuring existing ones.
In the Financial Year 2023-2024, government revenue is budgeted at $3,700.7 million while its expenditure ceiling has been raised to $4,339.9 million to account for increased funding for social protection, prioritize maintenance and upgrade of public infrastructure, channel funding towards economic and resource-based sectors including tourism, trade, Micro, Small and medium enterprises, health and education.
The Coalition government is of the belief that that higher spending in key priority sectors will enhance the growth momentum while the reforms and the realignment of tax policies and incentives will provide a conducive environment for investment, rebuild confidence and ensure sustainable inflows of government revenues.
The increase in expenditures is inclusive of the reinstatement of the Fiji National Provident Fund contribution rates to 18% as per pre-COVID levels, increase in interest payments for governments external loans which are on flexible interest rates, restoration of the University of the South Pacific.
Government is also introducing changes in Value Added Tax expenditure.
