Govt Treads Carefully As U.S Is Likely To Enter Recession

Government will tread carefully to ensure the economy is protected should the United States (U.S) suffer a recession.

The Ministry of Trade is keeping tab on market movements in the U.S as indicators show ‘swamp’ recession, which may result in slow recovery.

It will add to the recession burdens from New Zealand and Australia.

Line minister, Manoa Kamikamica, said Fiji operated almost contradictory to some of the global trends.

“Tourism in Fiji comes at a high-end,” he said.

“We have to watch and be responsible.

We have to manage our funds well, but recession is not a new thing.”

He said recessions were part of the business cycle.

“We have to manage it with a long-term view,” he said.

While the impact maybe huge, Mr Kamikamkica said Fiji needed to stay on track with its investment plans.

“We need to ensure that we keep on building the investment pipeline.”

Feedback: josefa.babitu@fijisun.com.fj