Growth ratings

THE mining and fisheries sector has had a very poor performance economically, says the Reserve Bank of Fiji governor Barry Whiteside.

Mr Whiteside said there were some other contributors to economic growth in 2013 such as the financial service sector, transport, construction, manufacturing, and information and communication sector.

He told the special 2015 Budget Forum in Suva yesterday that those sectors contributed heavily to growth last year.

On recent economic performance, he said Fiji has had four consecutive years of very good growth.

“Last year’s performance came out a lot better at 4.6 per cent then what we had forecasted which was at 3.6 per cent,” Mr Whiteside said.

“In 2014 the construction sector, manufacturing (wholesalers and retail) and agriculture contribute to the growth at 3.8 per cent.

“Sectors that can raise potential growth are tourism, mining, manufacturing, ICT and business and financial services, micro, small and medium enterprises, mining and agriculture and aquaculture.

“An important ingredient or key driver of the growth in the economy is consumption as well as investment and government spending.”

“Even free education has put more money into people’s pockets and there has been a strong rising level of inward remittances in Fiji with a record level for this year.”