A lively debate regarding the government’s performance unfolded in Parliament with Opposition MP Faiyaz Koya criticizing the Coalition Government for failing to uphold economic stability and unity. Koya stated that the Coalition, which came into power in December 2022 amidst a recovering economy, has since led the country backward with poor management and indecision.
During his end-of-week statement in Parliament, Koya emphasized that the stable economy inherited by the Coalition in 2022 had been significantly undermined over the past three years, remarking, “There was stability, investor confidence, and a clear path to recovery.” He asserted that families are now struggling under the weight of rising food prices and utility costs.
In response, Finance Minister Esrom Immanuel defended the government’s record, arguing that the economy is currently stronger than when the Coalition took over. He pointed out that the Coalition inherited an economic landscape tarnished by reckless management and the impacts of the pandemic, as well as longstanding infrastructure neglect and social issues. He underscored the reduction of Fiji’s debt-to-GDP ratio from 90% to 80%, an increase in civil service pay, and the maintenance of zero VAT on 22 essential items.
Immanuel highlighted encouraging statistics that show negative inflation for nine consecutive months, a significant rise in tourism, and a projected consistent increase in foreign reserves, alongside a robust investment pipeline now valued at $6 billion, compared to $3 billion previously.
This exchange in Parliament highlights the pivotal viewpoints on Fiji’s economic trajectory. While the Opposition paints a picture of decline and hardship, the government asserts that it is building a foundation for long-term recovery and sustainability despite facing global uncertainties and climate challenges. The government aims to bolster public trust and engagement through transparency and stability, and these discussions are vital as Fiji navigates its path toward economic resilience.
As the government continues to prioritize fiscal sustainability and a diverse economic strategy, there is optimism that the efforts may lead to a stronger, more inclusive economy in the long run. The ongoing focus on improving essential services and infrastructure could prove essential as the nation strives to ensure that all Fijians benefit from economic successes in the future.
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