Signs of economic boom

THE growth of the real estate sector is a good indication of a booming economy, says Industry, Trade, Tourism and Lands Minister Faiyaz Koya.

He made the comments at the inaugural annual general meeting of the Real Estate Association in Nadi over the weekend.

“The real estate industry is an important part of the Fijian economy and the growth of real estate is closely linked to the performance of the economy,” he said.

“A strong economy obviously leads to strong growth in the industry.

“The Minister for Economy delivered the 2017-2018 National Budget and that came at the backdrop of a very strong economic performance by Fiji with the Macro-Economic Committee revising economic growth forecast to 3.8 percent.

“This is the first time in Fijian history that the economy has grown positively for eight consecutive years and that, in a nutshell, is a promising and positive indication of our prospects as a country.

“It simply means that the stable and sound pro-growth policies of the Fijian Government have been bearing fruit and will continue to provide an environment that leads to employment and better livelihoods especially for our grassroots communities.

“This is not wishful thinking but it is backed by the International Monetary Fund’s regional economic outlook in their forecast for the Fijian economy.”

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