Fiji’s consumption expenditure is demonstrating resilience with promising growth figures, as highlighted by former Reserve Bank of Fiji Governor Barry Whiteside. In an interview with Fiji One News, Whiteside, who is also the outgoing Chairperson for Kontiki Finance, revealed that the economy is projected to experience a robust 3 percent growth this year, driven primarily by investment and the tourism sector.
Whiteside expressed optimism about the ongoing economic developments, noting that this positive trend could continue, potentially reaching around 4 percent growth next year. He emphasized that tourism is currently a significant driver of this growth, alongside aspirations to expand into other sectors.
Furthermore, he highlighted the importance of investment from both local and international sources, which has bolstered Fiji’s economic foundation and facilitated essential infrastructure and development across various key areas. Under Whiteside’s leadership, Kontiki Finance has contributed to this economic momentum by providing consumer loans and supporting business initiatives.
Looking ahead, Whiteside expressed excitement for the future, particularly for 2025, as he announced the release of the first-quarter financial results for the fiscal year, showcasing encouraging progress.
This perspective sheds light on a hopeful trajectory for Fiji’s economy, signifying the potential for continued growth and development in the coming years. With a focus on strengthening various sectors, Fiji appears well-positioned to harness its resources and drive further economic advancements.
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