Fiji’s consumption expenditure is displaying notable resilience with impressive growth figures, as highlighted by Barry Whiteside, the former Governor of the Reserve Bank of Fiji. In an interview with Fiji One News, Whiteside, who recently stepped down as Chairperson of Kontiki Finance, projected a positive 3 percent growth rate for the economy, primarily propelled by the investment sector and tourism.
Whiteside expressed optimism regarding the current economic climate, noting that while a growth rate of 3 percent is anticipated for this year, there is potential for growth to reach 4 percent in the coming year. This optimistic outlook stems from strong performance particularly in tourism, with aspirations to diversify into other sectors.
The influx of investment from both local and international entities has been a significant factor in bolstering Fiji’s economic framework, aiding in the development of essential infrastructure across various key sectors. Under Whiteside’s leadership, Kontiki Finance has contributed to this upward trend by providing consumer loans and backing business initiatives.
Looking ahead, Whiteside remains hopeful for a successful 2025, citing promising outcomes from the first quarter of the financial year. “We are seeing that there is progress,” he noted, reflecting a positive trajectory for the economy.
In summary, Fiji’s economic landscape appears to be on an upward trend, primarily driven by tourism and investment, and there are promising signs for continued growth in the coming years. This sets a hopeful tone for the nation’s economic recovery and diversification efforts.
Leave a comment