Omcore Technologies founder and CEO Arvind Maharaj has urged a shift in the country’s economic thinking, saying Fiji cannot rely on higher taxes or increased borrowing to achieve sustainable growth.

Speaking at the Dialogue Fiji Budget Forum as the public sector representative, Maharaj says Fiji’s recovery and long-term development must be driven by the private sector, not government spending alone.

He adds that the current economic reality lower growth, high debt levels, and a widening deficit shows clear limits on the government’s ability to stimulate the economy through fiscal measures.

Maharaj says the government’s role is to create a stable and predictable environment that encourages businesses to invest, hire, and expand.

“So from a private sector perspective, the first positive is that the budget recognises the reality. Fiji cannot tax, borrow or spend its way into sustainable growth. Growth has to come from productivity, investment and private sector activity. The second positive is tax stability. For businesses, especially MSMEs, predictability and certainty matter the most. The decision not to increase corporate tax is important at a time when businesses are already facing higher fuel, freight, electricity, and wage, rent, and compliance costs. A further tax increase would have weakened confidence.”

He adds that while budget measures such as tax stability, reduced employee contributions, and support for skills and finance are positive, they will only deliver results if businesses have the confidence to act.

According to him, many of Fiji’s challenges including slow productivity, limited capital access, and skills shortages cannot be solved by government alone.

Instead, he says growth will depend on whether the private sector is empowered to take risks and expand operations in a supportive economic environment.

Maharaj emphasized that the real measure of success will not be the budget itself, but whether businesses, especially MSMEs, begin to feel real improvements in costs, cash flow, and investment conditions over the coming months.