Fiji Time: 3:22 PM on Monday 24 October

Fiji Times Logo

/ Front page / News

Growth crucial

Repeka Nasiko
Thursday, March 06, 2014

PACIFIC Island countries with the exception of Papua New Guinea have faced numerous economic challenges in the past 20 years, says Pacific Island Private Sector Organisation CEO Mereia Volavola.

Speaking in Nadi yesterday, Ms Volavola said over the past 20 years, PNG had registered very high economic growth although other regional countries had not fared so well.

"The most immediate and widespread are high unemployment and joblessness which is leading to poverty, frustration and social instability," she said.

"A number of countries suffer from political instability or serious breakdown in law and order.

"The region also faces serious and worsening health problems, environmental challenges such as climate change and rapid urbanisation."

Ms Volavola said many reports had revealed that if Pacific Islands were to resolve these problems, it would be good for their economies.

"Economic growth creates wealth, which are driven largely by the private sector and supported by the public sector.

"With growth in business and employment, this will be the only revenue that the public sector will receive in order to meet other challenges such as environment and public health.

"Economic growth will not resolve all the problems facing the island economies, however, it is necessary."

Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Code Inward TTs Outward TTs
CAD 0.65020.6312
JPY 51.786748.7867
GBP 0.39950.3915
EUR 0.44950.4375
NZD 0.68980.6568
AUD 0.64760.6226
USD 0.49350.4765



Exchange Rate updated on 21st October, 2016

Today's Most Read Stories

  1. Drop in roll
  2. Hunt on for sex assault suspect
  3. Villagers fear for safety
  4. Abuse on the streets
  5. Fiji pearls make history
  6. Village diving expedition turns tragic
  7. Teenager finds body in a creek
  8. Villagers turn to sea cucumbers for income
  9. Year 13 exam starts
  10. Farmers harvest cane despite challenges

Top Stories this Week

  1. Former flight attendant invests in farming business Wednesday (19 Oct)
  2. Calls for USP vice chancellor to step down Tuesday (18 Oct)
  3. 'I heard Soko screaming in pain' Friday (21 Oct)
  4. A daughter's sacrifice Thursday (20 Oct)
  5. Dad's cry for justice Tuesday (18 Oct)
  6. 'I never knew Soko' Thursday (20 Oct)
  7. Hero's welcome Wednesday (19 Oct)
  8. 18 workers on the run Tuesday (18 Oct)
  9. Death probe Sunday (23 Oct)
  10. Fijians at heart Wednesday (19 Oct)