The primary news of Saturday, June 29 revolves around the declaration of our National Budget by Finance Minister Professor Biman Prasad. This coverage will be expanded on in depth within our publications and across our digital platforms.
The key focus of the main page involves the Supreme Court’s decision concerning the appointments of John Rabuku, Acting Director of Public Prosecutions, and Appeals Court judge Justice Alipate Qetaki. Attorney General Graham Leung urges patience in regards to next steps until the Court’s decision is finalized.
Yesterday, it was ruled that Mr. Rabuku was unfit for the DPP position, whereas Justice Qetaki was declared eligible.
The 2024/2025 National Budget, as delivered by Finance Minister Professor Biman Prasad, is notable for a rise in pay for civil servants and an increase in the minimum wage. In his parliamentary speech, Prasad stressed the necessity to ensure long term economic stability, security, and sustainability for Fiji.
He underscored the need for political consensus to tackle long term socio-economic issues, with a focus on national debt and infrastructure requirements, healthcare efforts, and the education system.
Moreover, Professor Prasad emphasized the need to combat poverty, non-communicable diseases, domestic violence and drug abuse, and inequality, as these problems continually persist. He pledged to remain dedicated to resolving these issues and repeated the importance of nurturing long-term consensus.
The Finance Minister also disclosed his plan to reduce national debt, create effective buffers against future economic rattlings, and smartly manage our resources and expend better!
Despite these challenges, tourist arrivals increased by approximately 7% during the first five months of this year, contributing to a thriving tourist sector with a record 929,000 visitors last year. This resulted in record profits for our national airline and hoteliers, which in turn stimulated domestic spending, employment opportunities, and revenue collections.
Professor Prasad also mentioned that while economic growth is promising, this year’s projected percentage was revised down from 3.4% to 2.8%, with an anticipated 3% growth for 2025. His ultimate aim, he said, was to elevate our growth potential to 5% through a concerted effort and firm actions.
It goes without saying that the national budget is a crucial determinant of our socio-economic progress. Nimble initiatives will be needed to balance debt reduction and deficit reduction while simultaneously supporting the economy and public infrastructure.
The budget debate is immensely anticipated, as it must address considerations on health, education, and labor shortage and retention effectively. All questions that arise over these challenges must be satisfactorily addressed.