The Coalition Government is poised to unveil its National Development Plan, which aims to steer Fiji towards becoming a prosperous nation over the next 25 to 30 years. Deputy Prime Minister and Finance Minister Professor Biman Prasad emphasized that the plan marks a shift from a middle-income economy to a wealth-driven society.
Professor Prasad announced that Prime Minister Sitiveni Rabuka will detail the plan during a presentation on Tuesday. He highlighted the Government’s commitment to listening to and understanding the concerns and aspirations of various sectors within the community.
He stated, “The Government has embarked on a journey of consultation, dialogue, and collaboration with our citizens, especially within the private sector and non-governmental organizations. We are pleased with the progress we have made in this regard.”
Professor Prasad commended the efforts of Deputy Prime Minister and Minister for Trade, Manoa Kamikamica, in steering the Government’s agenda. He underscored the importance of creating a supportive environment for businesses, workers, communities, and farmers to unlock their potential and innovation.
The Ministry of Finance has conservatively projected a 2.8 percent growth for Fiji’s economy this year. However, Professor Prasad expressed confidence that actual growth could exceed three percent. He noted that the last two budgets have effectively reset the nation’s financial standing.
“We have implemented tax and fiscal policies that ensure proper government funding, successfully reducing our deficit from previous levels of eight to nine percent to below four percent,” he stated. “Additionally, we have decreased our debt-to-GDP ratio from 90 percent, which we inherited, to approximately 78 percent.”
The Deputy Prime Minister also acknowledged the tourism industry’s significant contribution to Fiji’s economy, accounting for 40 percent of the country’s Gross Domestic Product. He affirmed the Government’s commitment to fostering growth in additional sectors interconnected with tourism.