Fiji Time: 11:15 PM on Wednesday 29 March

Fiji Times Logo

/ Front page / News

Key factors

Ropate Valemei
Friday, August 29, 2014

AS Fiji prepares for a return to a democratically-elected government, progress towards the election has led to increasing confidence in the economy, the International Monetary Fund has revealed.

According to IMF Asia and Pacific Department assistant director Chikahisa Sumi, this will also be supported by increased disposable income and credit expansion.

An IMF mission was in the country last month to conduct discussions with Fijian authorities.

Mr Sumi said GDP growth was projected to accelerate to 3.8 per cent this year, well above the average growth rate over the past decade.

"There are both domestic and external risks to the outlook. Domestic risks are focused on the complex political situation," he said in a statement.

"On the upside, successful election and a smooth transition to reform-oriented democratic government could result in stronger confidence in the economy and higher capital inflows," he said.

On the external risks, he said Australia and New Zealand, the two most important tourism markets for Fiji, could be adversely affected by lower commodity demand from China and elsewhere.

IMF said inflation had remained low partly because of low import prices but pervasive price controls clouded inflation assessment. And while good progress had been made in recent years, it stated structural reforms needed to continue for the country to achieve sustainably high growth and increase resilience to external shocks.

The IMF executive board is expected to discuss the 2014 Article IV consultation in October, this year.








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
CAD 0.65260.6336
JPY 54.821351.8213
GBP 0.39010.3821
EUR 0.45060.4386
NZD 0.70180.6688
AUD 0.64210.6171
USD 0.48960.4726

from

$0.00

Exchange Rate updated on 29th, March, 2017

Today's Most Read Stories

  1. Mothers raise concerns on hospital service
  2. Police recover body
  3. 'Minimum wage' for no skills
  4. 91,000 hits
  5. $1.16m write-off
  6. Brother recalls fatal night
  7. Labasa Police recover another child's body
  8. Election tactics
  9. ATH buys Vanuatu firm
  10. Clark: Mill closure to increase economic activity

Top Stories this Week

  1. Siblings perish Sunday (26 Mar)
  2. Family hopes to raise $60,000 Monday (27 Mar)
  3. 7s star told don't reoffend Friday (24 Mar)
  4. 'Sims' the star barber Sunday (26 Mar)
  5. Mothers raise concerns on hospital service Wednesday (29 Mar)
  6. Police recover body Wednesday (29 Mar)
  7. Shrea wins modelling title Sunday (26 Mar)
  8. Landowners demand $20m compensation from State Thursday (23 Mar)
  9. Explicit photos online Monday (27 Mar)
  10. Former 7s stars win Oldies Saturday (25 Mar)