Fiji’s Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, has indicated that the forthcoming National Budget will include provisions to assist Fijians grappling with rising prices potentially exacerbated by global tariff issues. During a recent address at the Fiji Institute of Chartered Accountants, he revealed the government’s plan for a slight increase in overall spending to enhance operational expenditure, particularly in areas like social welfare and agriculture.
Prasad stressed the government’s commitment to supporting local farmers and providing additional subsidies to encourage production. He acknowledged the challenges posed by ongoing global economic tensions but expressed hope that international tariff negotiations might alleviate some cost pressures. However, in the event that these global issues persist, the budget will include measures aimed at easing the financial burdens on ordinary Fijians.
Importantly, Prasad reassured the public that there will be no new taxes or alterations to existing tax policies in the upcoming budget; any adjustments will focus solely on compliance-related matters. The government aims to ensure that this year’s anticipated GDP growth remains unaffected by external pressures.
This upcoming budget, scheduled to be unveiled on June 27, reflects a continued focus on fiscal discipline and economic resilience. It aligns with previous budgets that prioritized strategic financial planning and citizen engagement, contrasting with public concerns regarding the cost of living and stagnating wages.
Drawing from earlier discussions, it’s evident that the government is committed to transparency and collaboration with citizens, aiming to foster economic stability and growth. The proactive strategies and planned investments indicate a hopeful outlook for Fiji’s economic future, aspiring to uplift all its citizens even amid external challenges.
By prioritizing support for social and infrastructural needs, the government hopes to navigate the complexities of the global economic landscape while strengthening the well-being of the Fijian populace.
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