Fiji Time: 7:48 PM on Sunday 5 July

Fiji Times Logo

/ Front page / News

'All Fijians benefit'

Ropate Valemei
Friday, July 11, 2014

DURING the seven-year period from 2000 to 2006, the government had an average net deficit of 4.3 per cent of the gross domestic product (GDP).

According to the FijiFirst party, the largest deficit was 6.2 per cent in 2001.

In contrast, during the comparable seven-year period from 2007-2013 the Bainimarama Government recorded a lower average net deficit of 1.7 per cent of GDP.

Speaking at the party's campaign in Rewa on Wednesday night, party general secretary Aiyaz Sayed-Khaiyum said parties who once led the government borrowed money for operating expenditures such as wages, salaries and every day expenses.

Unlike the Bainimarama Government, he said, they borrowed funds for capital expenditure such as building assets such as roads, bridges, hospitals, jetties, rural electrification and schools.

"The question is how much money do you borrow? In the way that you measure how much money you borrowed is the percentage of deficit on your GDP.

"We have borrowed far less money. But even when we borrowed money, we borrowed it to build things."

In 2005, he said the Qarase government borrowed money by raising $150million bonds for operational expenses.

"For a government, if we build something everybody benefits."

He said another reason the Bainimarama government had less debt was because "the Prime Minister is very mamaqi (very controlling) and keeps a very sharp check on it".

He said the Fiji Revenue and Customs Authority also had been collecting more taxes.





Fiji Times Front Page Thumbnail

Kaila Front Page ThumbnailFiji Times & Kaila Frontpage PDF Downloads

Use the free Acrobat Reader to view.

Westpac
Code Inward TTs Outward TTs
JPY 59.845756.8457
GBP 0.30830.3003
EUR 0.43450.4225
CNY 3.00972.9097
NZD 0.72320.6902
AUD 0.63460.6096
USD 0.48390.4669

from

$0.00

Exchange Rate updated on 3rd July 2015

Today's Most Read Stories

  1. Rise of Naholo doesn't surprise Savea
  2. State drops pension age
  3. SARU fires referees boss
  4. Fish case causes a stink
  5. 2 from 2
  6. Army lacks health staff
  7. Help on the way
  8. 20 per cent of visitors return to Fiji
  9. 85,000 people visit trade show
  10. 15,415 forms completed

Top Stories this Week

  1. Ryder in jail Monday (29 Jun)
  2. Nude pictures warning Monday (29 Jun)
  3. Toxic cassava Monday (29 Jun)
  4. Education shocker Tuesday (30 Jun)
  5. The discovery of illegal weapons in Fiji Tuesday (30 Jun)
  6. Ratu Jope passes away Wednesday (01 Jul)
  7. Club sold for $14k Tuesday (30 Jun)
  8. Bainimarama challenges Flying Fijians ahead of Rugby World Cup Tuesday (30 Jun)
  9. 'Complicated' English Wednesday (01 Jul)
  10. New date Wednesday (01 Jul)