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Fiji's growth revised upward to 4.3 percent

Staff writer |
Fiji's domestic economy is expected to expand by 4.3 percent this year, an upward revision from the previous forecast of 4 percent, which was announced in the 2015 Budget.

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If achieved, Reserve Bank of Fiji governor Barry Whiteside said, this would be Fiji's sixth consecutive year of positive growth and third consecutive year of growth above 4 percent, The Fiji Times reports.

"The revised forecast incorporates the higher Government expenditure budgeted for 2015, particularly the larger-than-expected allocation for capital expenditure," said Mr Whiteside, who is also the chairman of the macroeconomic policy committee.

He said this year's growth was projected to be broad-based with positive contributions from all sectors of the economy.

In terms of last year's growth, he said, the estimated forecast had also been revised upwards to 4.5 percent from 4.2 percent.

He said the revision was largely attributed to better-than-expected performances in a number of sectors such as finance, insurance and services sectors.


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