The 2023/2024 National Budget will be announced today and based on what both the Prime Minister and Finance Minister have said, Fijians can expect all 21 essential items to remain zero-rated.
However, goods with a 9 per cent VAT rate are likely to increase.
The other good news is that the most vulnerable — especially those receiving social welfare benefits — can expect some respite as their allowances are set to increase.
Other things to expect
- Projected government revenue of about $3.7 billion
- Increase in total government spending (including capital expenditure) to a little over $4 billion
- Infrastructure spending to be maintained with a 30:70 ratio for capital and operating expenditure
- Upgrade of rural roads
- Increase in allocation for the health sector
- Investment in utilities such as water and electricity
- Retention of existing education commitments
- Reduction in delays from agencies such as Department of Environment
- Simplification of tax processes
- Possible immigration law reforms
- Review of Land Sales Act and State Lands Act processes
