The Coalition Government is poised to unveil its National Development Plan, which aims to guide Fiji towards becoming a prosperous nation within the next 25 to 30 years.
Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, emphasized this transition from a middle-income to a wealth-driven society. He noted that Prime Minister Sitiveni Rabuka will present the details of the plan on Tuesday.
Prof Prasad highlighted the government’s commitment to listen to and understand the concerns and aspirations of all sectors of the community. “The government has embarked on a journey of consultation, dialogue, and collaboration with our people, especially in the private and non-governmental sectors. We are very pleased with our progress in this area,” he stated.
He also praised the efforts of Deputy Prime Minister and Minister for Trade, Manoa Kamikamica, in setting the government’s agenda. “We aim to create an environment that fosters business growth and allows our people, workers, and communities to fully realize their potential and innovation,” he added.
The Ministry of Finance has conservatively projected that Fiji’s economy will grow by 2.8 percent this year. However, Prof Prasad is optimistic, stating that the government expects to achieve over three percent growth. He pointed out that recent budgets have focused on resetting the financial position of the government.
“We have implemented tax and fiscal policies that adequately fund the government and have managed to reduce our deficit from previously high levels of eight to nine percent to below four percent,” he explained. “Additionally, we have reduced the debt-to-GDP ratio from 90 percent to around 78 percent.”
The Deputy Prime Minister remarked on the substantial role of the tourism industry, which accounts for 40 percent of Fiji’s Gross Domestic Product. He reiterated the government’s commitment to fostering growth in other sectors linked to tourism.