Fiji targets high-income status by 2050: PM

Government aims to lift Fiji’s economic growth target to six per cent annually by 2050 as part of plans to transition the country from a low-income to a high-income economy.

Speaking in Parliament, the Prime Minister said the ambition forms part of the National Development Plan 2025–2029 aligned with Vision 2050.

He said Fiji currently records an average growth rate of 3.4 per cent, but the Government intends to significantly raise this.

“Government is equally mindful that sustaining our national development ambitions requires a step-change in our economic performance.”

“While Fiji has maintained a steady growth trajectory, our strategic objective is mobilising Fiji to move from a low-income nation to a high-income Nation status – by lifting the national growth target to 6 percent annual growth by 2050, from the 3.4 percent we now have.”

He said achieving this would expand job opportunities and strengthen government’s ability to invest in infrastructure and social services.

“To realise this ambition, Government will pursue a coordinated strategy focused on productivity-led growth, targeted investment in key sectors such as tourism, agriculture, fisheries, manufacturing and the digital economy, improved ease of doing business, and stronger public–private partnerships.”

The Prime Minister said investments in human capital and infrastructure would also be critical.

“Equally important will be investments in human capital, innovation, and modern infrastructure that enable our people and enterprises to compete in an increasingly dynamic global economy.”