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Getting Those Figures Right

The NFP’s expert on finance appears to have a few problems. In his recent report in his favourite newspaper (NOT this one) he is saying some things which are not
10 Oct 2015 11:51
Getting Those Figures Right

The NFP’s expert on finance appears to have a few problems.

In his recent report in his favourite newspaper (NOT this one) he is saying some things which are not really true.

The RBF never said six per cent growth for 2016. The other newspaper got it wrong when it was said 6th consecutive years of economic growth (all other media organisations got it right).

The fiscal position for Fiji is much better now than six years ago. Debt has fallen to 47 per cent from above 50 per cent. There has been more employment created in 2015 than before.

Just like this fellow appeared confused in claiming:

1 Fiji took a Standby Bond arrangement  when there is no such thing;

  1. The bond raised by SDL had an interest rate of 6.00 per cent when it was actually 6.875 per cent.

And he has the audacity to say there is no difference between 6.00 per cent and 6.875per cent.

As a longtime Professor of Economics, he should know that the difference in interest paid between 6.875 per cent and 6.0 per cent on US$150 million is F$13 million over the life of the bond. Yes,  $13,000,000. Is he a not so right academic?

 

MARAMA WAY

Interestingly the Marama calls for every patriot to be honoured and not to let politics get in the way.

But were they practising what they preached when the Opposition was conspicuously absent at Burkhurst ground to take part in Fiji Day celebrations?

 

Feedback:  jyotip@fijisun.com.fj

 




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