Shania Shayal Prasad 
Fiji must maintain an average annual growth rate of 5.7 per cent to achieve high-income status by 2050.
This, according to the World Bank Group’s Fiji Growth and Jobs Report.
The report outlined job creation and workforce capability as the two central pillars for long-term economic transformation.
Prime Minister and Acting Minister for Finance Sitiveni Rabuka states the report is a defining moment for the country.
He adds that it provides a clear and candid assessment, offering practical direction for policy action.
“If we are serious about becoming a high-income country by 2050, we must decisively raise and sustain our growth performance.”
Rabuka said the recommendations would be translated into a sequenced, time-bound reform and investment program with accountability mechanisms to track delivery.
The report identifies five priority areas for sustained growth.
These include enabling businesses to operate more effectively, strengthening competition, promoting foreign direct investment, building a healthier workforce and increasing women’s participation in the labour market.
Rabuka acknowledges the World Bank Group’s continued support through financing, policy advice and recovery efforts following the COVID-19 pandemic.
With the findings now laid out, the government said its focus would shift toward implementing reforms aimed at generating more and better jobs, lifting productivity and securing long-term economic growth.
Stream the best of Fiji on VITI+. Anytime. Anywhere.
