World Bank report recommends rebuilding fiscal space

A NEW report released by the World Bank has strongly recommended that the Fiji Government starts rebuilding fiscal space to respond to future shocks.

Managing Headwinds, the April 2019 edition of the World Bank East Asia and Pacific Economic Update, released in Bangkok on Wednesday said natural disasters and rising expenditures have eroded Fiji’s fiscal space in the past five years.

According to the report, Fiji’s fiscal policy was expansionary over the past few years and as Fiji’s external environment weakens and Fiji remains exposed to frequent and costly natural disasters, building fiscal space through expenditure-based fiscal consolidation remains the key policy priority.

Read the full report in today’s edition of The Fiji Times.

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