[Source: Parliament of the Republic of Fiji/Facebook]

Fiji is in the midst of a financial crisis requiring urgent action, Prime Minister Sitiveni Rabuka stated in response to President Ratu Naiqama Lalabalavu’s Parliament-opening speech.

Rabuka’s address placed economic recovery front and center, emphasizing the urgent need to tackle the nation’s rising debt and escalating fiscal deficit.

The Prime Minister painted a stark picture of Fiji’s economic challenges, sweeping inflation, a stagnant domestic economy, and unsustainable public debt that threatens to derail future growth.

Rabuka spoke about the importance of fiscal discipline, warning that without swift action to reduce the national debt and rein in the fiscal deficit, Fiji faces prolonged instability.

This instability, he said would severely hinder efforts to improve the livelihoods of everyday Fijians.

“Our nation’s progress is measured not only by its economic achievements but also by the well-being of its people. We will ensure that there is equity to minimize the risk of our people falling into a vicious cycle of poverty.”

Rabuka’s speech outlined a clear course of action; strict fiscal measures including reducing government spending and prioritizing long-term investments.

He reiterated the need to ensure that taxpayer funds are used efficiently, with a focus on improving public services that directly benefit the population.

The Prime Minister also pointed out the need to overhaul inefficiencies within public institutions to regain domestic and international trust in Fiji’s financial management.

Beyond fiscal reform, Rabuka highlighted the necessity of revitalizing key sectors like agriculture, tourism, and manufacturing, which have been particularly vulnerable in the wake of global economic pressures.

These sectors, he argued, are the cornerstone of Fiji’s recovery and long-term prosperity. Significant investments in infrastructure and workforce development will be essential to make these sectors competitive in a rapidly evolving global marketplace.

While foreign aid remains a crucial aspect of Fiji’s development strategy, Rabuka noted that the country’s dependence on external assistance must be reduced.

He states that true economic growth will come from strengthening domestic capabilities and fostering sustainable practices.

In response, Opposition Leader Inia Seruiratu particularly criticized the government’s failure to address pressing national issues, including the state of the economy and the rising cost of living.

In his response, Opposition Leader Inia Seruiratu outlined the government’s inability to deliver on promises made to the people, calling attention to the widening gap between the government’s rhetoric and the challenges faced by ordinary Fijians.

“What Fiji needs is change, Mr. Speaker, sir, and we should start with fundamental policies that had worked well in the past but would require a re-examination to enhance their effectiveness in the social, business, and political environment of today.”

According to Seruiratu, while the President’s speech focused on broad statements of progress, it lacked concrete plans to tackle the deepening economic crisis, which continues to put immense strain on families, businesses and communities.

The MP’s will continue to give their right of reply to the President’s speech until the end of this week.

Stream the best of Fiji on VITI+. Anytime. Anywhere.