Fiji’s Minister of Finance, Biman Prasad, has conveyed optimism regarding the upcoming National Budget for 2025-2026, which he assures will be notable for its positive news for all citizens, albeit without major surprises. Speaking at a ceremony at Vunimono High School, he emphasized that preparations for the budget are well underway, focusing on enhancing stability and resilience in an economically challenging global environment influenced by conflicts in the Middle East and Europe.
Prasad highlighted that Fiji’s economy is projected to grow at approximately 4 percent in 2024, exceeding prior forecasts. This growth is attributed to sound fiscal management, increased revenue, controlled deficits, and a reduced debt-to-GDP ratio, positioning the government to responsibly manage expenditures while delivering benefits to the citizenry.
The Minister underlined the importance of community consultations in budget planning, building on past initiatives that included substantial increases in minimum wages and support for essential sectors like agriculture. He reiterated the government’s commitment to listening to citizen feedback and shaping the budget to address concerns around rising living costs and infrastructure challenges.
Prasad’s emphasis on a budget without new taxes, focusing instead on enhancing operational spending in critical sectors, aligns with previous discussions about economic strategy and collaboration between government and the private sector. Building upon the strong foundation laid by earlier budgets, this upcoming fiscal plan aims to foster economic resilience while also meeting immediate social needs.
The inclusive approach to budgeting promised by Prasad not only strives to tackle pressing economic issues but also reflects a commitment to creating a more responsive governance structure, with transparency and citizen engagement at its core. This proactive strategy signals a hopeful future for Fiji’s economy, aiming to uplift the populace amidst potential global economic headwinds.
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