Fiji’s economy is displaying remarkable resilience, with strong growth figures in consumption expenditure, according to Barry Whiteside, the former Governor of the Reserve Bank of Fiji. In an interview with Fiji One News, Whiteside, who is also the outgoing Chairperson of Kontiki Finance, highlighted that a positive growth rate of 3 percent is anticipated for the current fiscal year, largely driven by the tourism sector and investment activities.
Whiteside expressed confidence in the ongoing economic progress, stating, “We’ve seen good growth now, we’re quite happy with what’s happening in the economy.” He noted the potential for continued growth, possibly reaching around 4 percent in the coming years, supported by both local and international investments that have bolstered Fiji’s economic infrastructure and development in essential sectors.
Under Whiteside’s stewardship, Kontiki Finance has contributed positively to this economic upsurge by providing consumer loans and backing various business ventures. He conveyed optimism about the outlook for 2025, saying, “We just released our first quarter financial year 2025 outcome. We’re seeing that there is progress.”
This optimistic economic outlook is encouraging for Fiji, suggesting that the country is on a path to recovery and growth, driven by key sectors like tourism and robust investment activities.
In conclusion, Fiji’s resilience demonstrates the potential for economic recovery and growth, driven by strong consumer spending and effective investment strategies. This optimism not only gives hope for 2025 but also reflects the importance of sustainable economic practices in ensuring long-term stability.
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