Whiteside: Consumption key ingredient to growth
7 October, 2014, 12:00 am
RESERVE Bank of Fiji Governor Barry Whiteside believes a range of policies have supported the positive growth outcomes and improved business confidence in the country this year.
He highlighted this during the special 2015 budget forum at the Grand Pacific Hotel in Suva on Saturday.
He said in terms of RBF’s policies, the monetary policy had been accommodative and was working with expansionary fiscal policy.
“Higher fiscal spending on infrastructure, education, health and social transfers has also contributed to the positive growth outcomes,” Mr Whiteside said.
“Increased incentives by government for investment and consistent year to year policies are important in economic growth.
“Higher disposable incomes such as lower tax rates, free education have put more money into pockets and there has been a strong rising level in remittances.”
He said an important ingredient or key driver on growth was consumption, government spending and investment.