Opposition Member of Parliament Sachida Nand has expressed concerns about the 2024/2025 budget, stating it falls short in fostering investment and growth in Fiji.
During a parliamentary debate on the budget, Nand highlighted the lack of incentives for local investments. “Banks are complaining of high liquidity as people are not borrowing to invest. Even when loans are approved, people are not drawing to invest,” he noted.
Nand also criticized the budget for failing to attract foreign investment. “I fail to see anything in the budget that attracts foreign investment in Fiji. This is not good as Fiji needs foreign investments to grow the economy.”
He emphasized that economic growth enhances public trust and confidence in the government, urging the Deputy Prime Minister and Minister for Finance to take action.
Addressing the nation’s debt, Nand stated, “I am sure the people of Fiji would like to know that the expected debt in the 2024/2025 budget is $10.91 billion, translating to a per capita debt of $12,000 to $12,800.”
Nand also critiqued the budget allocation for the Narcotics Bureau, arguing that $2 million is insufficient to combat a multi-billion dollar problem. “We are investing too little to fight an overarching issue. I urge the Honourable Minister to reconsider and increase the allocation.”
Furthermore, he pointed out the lack of new infrastructure projects in the budget. “Direct infrastructure investment is completely missing. The allocation is only for the maintenance of infrastructure developed by the previous government. My question is what new roads are being done by this government, and the answer is none.”
Nand concluded by warning against over-reliance on direct budget support from donor agencies, urging the government to focus on achieving a budget that doesn’t depend on potentially temporary external aid.