Business

Government hopes to address imported inflation

June 27, 2022 5:02 pm

Minister for Economy, Aiyaz Sayed-Khaiyum

The Government will ensure proper mechanisms are included in the formulation of 2022/2023 National Budget to help counter inflation.

Minister for Economy, Aiyaz Sayed-Khaiyum says they will also consider various ways to alleviate the hardships that will come from imported inflation.

“There are a lot of aspects, of course, that we need to look at. What we need to do is to be able to at least for the next six months or so. The fuel price is going to rise and if there is going to be an increase in imported inflation then we as a country will need to have some national-based policy around it.”

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Sayed-Khaiyum adds that collaboration is a critical factor in finalizing the next financial year’s national budget to ensure the needs of every Fijians are taken into account.

“We want to ensure there’s a close collaboration with CSOs in particular when we have these challenges that are completely out of our control and have a deleterious on society, in particular for food price rises. How it affects people on the ground is something we obviously intend to have a more nuanced approach through the budget consultation process and how do we address them?”

The 2022/2023 National Budget will be announced on the 15th of next month.