$50b development program to benefit country
16 November, 2017, 12:00 am
THE Government believes the 20-year $50 billion National Development Plan (NDP) will benefit the country a lot, one in particular the Gross Domestic Product per capita.
According to the NDP website, “the implementation of the entire plan is expected to inject over $50 billion of government investment over the next 20 years.”
This includes both funding for capital expenditure and expenditure for provision of social services.
The website added that “To finance this, government will mobilise its domestic revenues, both tax and non-tax, and access international financial resources, including funding from multilateral development partners. Self-funding of projects undertaken by State owned enterprises (SOEs) and municipal councils will complement funding from the central government.”
Attorney-General and Minister for Economy, Aiyaz Sayed-Khaiyum said the NDP would boost the country’s economy.
“We looking at increasing GDP per capita fourfold. At the moment per capita is $10,000 and we want our GDP per capita to be $40,000,” he said in Bonn, Germany.
“We believe it is achievable with the current growth of which average around 4-5 per cent.”
While launching the NDP, Prime Minister Voreqe Bainimarama said the NDP would see reduction in unemployment at less than four per cent, thus eliminating extreme poverty and reducing the number of Fijians living below the country’s poverty line to less than 10 per cent of the population.
“While we are on the frontlines in dealing with the threat of climate change, Fiji’s economy is strong and expanding. Our institutions, infrastructure and skills in the labour force are improving, and we are expanding our digital connectivity,” he said.