Biman: Economy still in recovery mode

New Finance minister, Professor Biman Prasad address his ministry staff during his official welcome at Ro Lalabalavu House in Suva, on Wed 28 Dec 2022. Piocture: ELIKI NUKUTABU

Fiji’s economy is still in recovery mode. While speaking in Nadi on Friday, Minister of Finance Professor Biman Prasad said certain sectors had been contributing heavily to Fiji’s economic recovery.

“We see that the tourism industry is already leading recovery,” he said.

“I was told two days ago by the Reserve Bank of Fiji, that in 2022, we had exceeded the $1 billion mark in terms of remittances although we don’t want to build an economy based on remittances.

“But for our recovery, I think it has been a very, very strong contributor in terms of consumption and of course, that drives the economy as well.”

He said Government would continue to play its part in the recovery process.

“Government will do its utmost to ensure that all the bottlenecks like the ease of doing business, the ease of investment, doing investment in this country is one of the best and that is our objective.”

The Deputy Prime Minister added that they would need every stakeholder to be involved in their work towards improving Fiji’s economy.

“We believe that Government cannot do everything and government should not do everything alone.

“Our job is to work with the people, with the investors, facilitate investment and facilitate business.

“And therefore we can all collectively achieve high levels of economic growth and sustained levels of economic growth.”

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