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Fiji Time: 9:49 PM on Friday 1 August

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2.2pc rise in 2013

Ropate Valemei
Saturday, November 24, 2012

THE Australia and New Zealand Banking Group has forecasted a 2.2 per cent economic growth in Fiji in 2013.

The ANZ Pacific quarterly review reported a growth from 2.1 per cent this year.

"We see moderate headwinds in 2013 as the global economy continues its steady recovery weighed down by ongoing uncertainty over Europe," the review said.

ANZ predicted the growth in the Pacific should decline somewhat next year with the usual pattern of out performance by the hard/precious commodity and energy exporters.

It stated the policy will favour supporting growth over fighting inflation.

The Pacific region is likely to face moderate headwinds in 2013.

"Commodity prices for the Pacific are forecast to be relatively unchanged through 2013," the review said.

"For most of the traditional soft commodity exporters, there are few dynamics currently in the market which would spark a strong rebound in prices.

"Our forecasts for energy prices are relatively flat from 2012," it added.

ANZ has forecasted that growth in this group would decline from 8.1 per cent in 2012 to 6.9 per cent in 2013.


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