Eight Percent Growth: RBF
Uncertainty surrounding tax policies coupled with the extent of fiscal consolidation in the upcoming National Budget are among domestic headwinds identified by the central bank, in its most recent macroeconomics projections.
Reserve Bank of Fiji Governor, Ariff Ali, said despite the upward revision to the growth projection for this year, risks to the outlook tilted to the downside.
“Global headwinds are from the continued geopolitical tensions, rapid interest rate hikes in advanced economies and the possibility of global recession,” he said.
“Domestic headwinds include uncertainty surrounding tax policies and the extent of fiscal consolidation in the upcoming national budget, high emigration, climate change, and natural disasters.
“The next review of macroeconomic projections is scheduled for the last quarter of 2023.”
Story By: frederica.elbourne@fijisun.com.fj
