Fiji aims to achieve high-income status by 2050, which would enhance the quality of life for its citizens, according to Deputy Prime Minister and Minister of Finance Professor Biman Prasad. During a recent statement in Parliament regarding the National Development Plan (NDP) for 2025-2029 and Vision 2050, he emphasized that reaching this goal necessitates significant reforms and addressing long-term challenges that have impeded economic and social advancement.
“A business-as-usual approach will not accomplish our vision,” Prof Prasad remarked. He identified several critical issues highlighted in the NDP that need to be resolved, including labor productivity, deficits in transportation and healthcare infrastructure, participation rates of women and youth in the labor force, business and investor confidence, skills mismatches, and ensuring political stability.
He urged a commitment to careful and effective planning during the execution of the NDP, stressing the importance of aligning resources with revenue projections to maintain financial stability and avoid overly ambitious goals coupled with insufficient funding.
The ministry is currently developing a comprehensive implementation plan that outlines clear resource allocations. Prof Prasad called for enhanced cooperation between the government and its development partners to optimize the use of resources.
He pointed out that a siloed approach to service delivery has hindered the effectiveness of program-oriented planning and execution within the government.
Implementation will be guided by a focus on results, transparency, and accountability, supported by a robust mechanism for monitoring and evaluation. This will involve the regular collection of data to track progress, timely reporting, and necessary corrective actions.
State capacity and the ability to coordinate efforts are also vital for the successful implementation of the NDP, he added. The government is dedicated to enhancing civil service capabilities in policy planning and execution to ensure effective implementation and achievement of NDP objectives.
Annual national budgets will reflect the development priorities outlined in the NDP, providing the financial resources required for implementation.