Budget 2019

Fiji Budget 2019: Tourism, Consumer Demand

Key economists of the australia and new Zealand (ANZ) bank release outlook for Fiji
24 May 2019 14:49
Fiji Budget 2019: Tourism, Consumer Demand

Two of ANZ’s key economists – Kishti Sen, who is the Bank’s economist for Pacific Island Countries and Tom Kenny, who is their Senior International Economist – have released the bank’s quarterly outlook for Fiji.

“Fiji’s economy has performed remarkably well since the last recession in 2009. Despite impressive recent growth, we see activity moderating to 2.8 per cent in 2019 and 2.5 per cent in 2020.

“We anticipate fiscal repair will be the new order of the Government. Hence, after several years of budget deficits, we believe the Government will begin to unwind some of the stimulus and reduce expenditure (both recurrent and capital). Overall, we expect public demand will make a small negative contribution to growth this year and next.

“Tourism and consumer demand (underwritten by remittance flows) should support the economy. Liquidity management, however, will be crucial in steering the economy away from a sharp slowing.”



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