Fiji’s economy is demonstrating encouraging signs of recovery, as stated by Deputy Prime Minister and Minister for Trade, Manoa Kamikamica, during a recent address to Parliament. He reported that after 27 months of challenges, the nation is on a path to rebound to pre-pandemic economic levels. The growth forecast has been adjusted to 3.8 percent for 2024 and is projected at 3.4 percent for 2025. Kamikamica noted that the country’s foreign reserves currently stand at $3.7 billion, providing a solid import cover for 5.9 months. He also highlighted the financial system’s liquidity of $2.2 billion and a notable rise in private sector lending, which increased by 11.4 percent as of January 2025.
The Minister emphasized a strong investment pipeline estimated at $6 billion, with the potential to grow to $10 billion if current discussions lead to fruition. He stated, “Our prudent policies, pro-business stance, and commitment to fiscal discipline have effectively positioned Fiji as a leading trade, investment, aviation, logistics, and tech hub in the Pacific.” This outlook promotes a sustainable growth agenda for the country.
This discussion reflects the sentiments shared by Fiji’s President Ratu Naiqama Lalabalavu, along with other government officials, regarding the necessity for economic diversification to reduce vulnerabilities associated with external shocks, especially amid ongoing global uncertainties. The focus is on pivotal sectors including agriculture, tourism, and the essential contributions of micro, small, and medium enterprises (MSMEs) to enhance economic resilience.
Kamikamica outlined five key priorities within his ministry that aim to boost economic diversification, streamline business operations, support MSMEs and cooperatives, spearhead digital transformation, and improve legislative and regulatory standards in Fiji.
The collective aspirations of government officials aim to create a more inclusive and dynamic economy that seeks not only growth but also an improved quality of life for all Fijians. With strategic investments, a focus on infrastructure development, and support for local industries, Fiji is positioned for a hopeful and prosperous economic future.
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