The 2025-2026 National Budget is designed with the mantra of “hoping for the best and preparing for the worst,” according to Ram Bajekal, CEO of Golden Manufacturers Group, who spoke at the National Budget Forum organized by Dialogue Fiji in Suva. The budget, led by Deputy Prime Minister and Finance Minister Professor Biman Prasad, aims to tackle critical issues such as infrastructure deficits, the cost of living, and maintaining global economic competitiveness.
Bajekal highlighted the budget’s strategic framework, which adopts a nuanced approach to economic growth, centering on market conditions, operational effectiveness, and enabling environments. This multi-dimensional strategy is seen as essential in providing significant momentum for Fiji’s national economic growth.
He expressed a cautious stance on public debt, suggesting that if debt is used for capital investments that generate future income, it shouldn’t concern the private sector. Instead, the focus should be on the debt’s servability. Positive economic indicators, such as the presence of 177 ongoing projects valued at $5.8 billion and the commencement of 16 projects, bolster economic confidence and signal job opportunities. Furthermore, increased visitor arrivals are expected to enhance economic circulation, benefiting social welfare and creating new economic opportunities.
The discussions resonate with previous insights shared by various experts on the significance of a well-executed economic plan. For example, ANZ Pacific Economist Kishti Sen mentioned policy consistency and the current government’s focus on fiscal sustainability, aiming for budget surpluses while reducing the debt-to-GDP ratio in the coming years.
Bajekal emphasized the importance of monitoring how the budget effectively translates into tangible benefits such as economic improvements, job creation, and elevated living standards for citizens. The budget is not merely a fiscal document; it represents a strategic roadmap towards economic resilience and potential transformation for Fiji.
As various stakeholders watch these developments closely, the collaborative approach seen in earlier discussions between the government and citizens continues to inspire hope for a more prosperous future, showcasing a commitment to uplifting the quality of life for all Fijians.
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