The 2025-2026 National Budget of Fiji is set to adopt a slightly increased expenditure policy as a proactive measure against the challenges posed by ongoing global trade tensions, according to Deputy Prime Minister and Minister for Finance, Professor Biman Prasad. Speaking at the Fiji Institute of Chartered Accountants Annual Congress, Prasad outlined the anticipated impacts of the trade war on global tariffs and its ripple effects on Fiji’s economy.
Prasad emphasized that a continuing global trade conflict could lead to reduced disposable income in key tourist source countries, potentially affecting Fiji’s tourism sector and remittances. To mitigate these challenges, the government intends to adjust its budget towards operational expenditures, with particular focus on social welfare, support for local farmers, and infrastructure development designed to stimulate spending.
Prasad assured the public that despite the proposed increase in spending to bolster economic resilience, there would be no new taxes introduced in the upcoming budget. This decision reflects the government’s commitment to maintain fiscal discipline while providing necessary support to citizens facing rising living costs due to external factors.
In aligning this budget with previous fiscal strategies, it draws from a foundation of responsible governance, focusing on enhancing key sectors such as agriculture and infrastructure. The aim is to not only respond to immediate economic pressures but also to foster long-term growth and stability within Fiji.
Prasad’s optimistic outlook reflects a hopeful vision for Fiji’s economic future, highlighting the government’s dedication to transparency and community engagement. By prioritizing investments in social welfare and infrastructure, Fiji is positioning itself to navigate the complexities of the global economic landscape while improving the quality of life for all its citizens.
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