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Fiji Time: 11:03 AM on Thursday 17 April

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Borrowing increases

Luke Rawalai
Tuesday, December 03, 2013

THE Reserve Bank of Fiji has noticed an increase in borrowing from banks, says Attorney-General Aiyaz Sayed-Khaiyum.

He said this was a positive sign of the economy recuperating as people confidently borrowed money from banks.

"As the economy recuperates the standard of living betters and people become more confident to take loans from banks," he said.

"The country recently experienced an economic growth of 2.6 per cent.

"We have reduced corporate taxes and in return we have had an influx on the flow of investments bringing in more money."

Mr Sayed-Khaiyum said the government was keen on improving infrastructure to increase investment.

"Government is the provider of enablers and we are ensuring that this is done for the advantage of our local people.

"Take for instance the construction of the Dreketi Nabouwalu highway; we are eager to see that the doorways of development are opened up to our population.

"There has been an increased cash flow in the rural settlements along these corridors and we promise them that more is yet to come when the project is completed."