Jale Daucakacaka 
[File Photo]
The Association of Banks in Fiji welcomes the budget and recognizes the balancing act required between managing the high debt levels and also focusing on growing the economy for the benefit of all Fijians.
ABIF chair, Haroon Ali has complimented the coalition government for the open, transparent, and consultative approach undertaken in the lead-up to the 2023–2024 National Budget announcement.
Ali says it was a tough but necessary budget, adding that tough decisions were crucial to improving the country’s financial standing, even though it will hurt some people, especially those in the lower income bracket or the government’s social welfare payments.
He says the approach taken by the government softened expectations in most sectors and eliminated the element of surprise and shock from the many proposed changes to better manage the country’s finances.
The chair commends Deputy Prime Minister and Minister for Finance Professor Biman Prasad for the various initiatives towards reducing the fiscal deficit to below 3.5 percent of Gross Domestic Product by the financial year 2024-2025.
Ali reaffirms ABIF’s commitment to collaborate with the government and relevant stakeholders to promote an efficient and effective banking system for the benefit of the Fijian people.
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