Fiji is experiencing robust consumption expenditure growth, according to Barry Whiteside, the former Governor of the Reserve Bank of Fiji. In an interview with Fiji One News, he highlighted a projected economic growth rate of 3 percent for the current year, largely fueled by investment and tourism.
Whiteside expressed optimism regarding the current economic climate, noting that this growth is expected to continue into the next year, with potential increases up to 4 percent. He attributed this positive trend primarily to the tourism sector, while also emphasizing the need to explore growth opportunities in other industries.
He also pointed out that both domestic and foreign investments have bolstered Fiji’s economic stability, leading to critical advancements in infrastructure and various sectors. Under Whiteside’s guidance, Kontiki Finance has contributed significantly to this economic momentum by providing consumer loans and backing business initiatives.
Looking ahead, Whiteside is enthusiastic about prospects for 2025, referencing the promising first-quarter outcomes of the financial year. He remains hopeful for ongoing progress in Fiji’s economy.
This positive outlook reflects the resilience of Fiji’s economy and suggests that continued investment in key sectors can foster long-term growth, benefiting the nation as a whole. The dedication to improving infrastructure and supporting local businesses indicates a proactive approach that could help sustain this upward trajectory.
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