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RBF looks to positive investment

Ropate Valemei
Saturday, February 16, 2013

THE Reserve Bank of Fiji is looking forward to investment fronts such as new lending for investment purposes and building permits issued suggest a positive outlook for investment activity this year.

The central bank's January 2013 Economic Review revealed new lending for investment purposes rose annually by 28.1 per cent to $120.4 million in 2012, while the value of building permits issued cumulative to September noted a yearly increase of 249.5 per cent.

"Indicators for the labour market suggest improved conditions consistent with rising business and investment activity," the review said.

RBF's Job Advertisement Survey also noted an increase in the number of jobs advertised in 2012 by 24.6 per cent compared to 2011.

"Employment prospects generally look positive for 2013 on the back of favourable tax policies and the general improvement in economic activity anticipated this year," RBF said.

The bank also revealed a growth in broad money supply slowed to 5.5 per cent in December 2012, following an expansion of 6.6 per cent in November.

"This was driven by a deceleration in net foreign assets, which slowed to a 3.7 per cent growth in December," the review said.

For the same periods, the bank said the growth in net domestic credit remained unchanged at 2.9 per cent.