World Economy
0

Fiji Growth Expected to Grow 3.6%

Fiji Growth Expected to Grow 3.6%Fiji Growth Expected to Grow 3.6%

The Fijian economy is expected to achieve a broad-based growth of 3.6% in 2018, according to the Reserve Bank of Fiji on Friday, Xinhua reported. This is expected to be achieved through strong sectoral performances in tourism and anticipated higher manufacturing and industrial activity in the South Pacific Island state’s economy. The Reserve Bank of Fiji said it was adamant that several underperforming sectors such as gold and timber were expected to rebound this year. RBF Governor Barry Whiteside said the government’s expansionary policies should continue to support consumer and investor confidence. He said strong private sector credit growth predicated on the current low interest rate environment was also conducive to growth. On the downside, the governor said adverse weather conditions and the somewhat subdued performance in the primary industries represented risks to the domestic economic outlook while the recent increase in global crude oil prices have trickled into higher domestic energy costs. In December 2017, Fiji’s Prime Minister Voreqe Bainimarama pledged to continue to grow Fiji’s economy in 2018 and bring greater opportunity for Fijians.

 

Add new comment

Read our comment policy before posting your viewpoints

Financialtribune.com