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RBF forecasts Fijian economy to grow by 3%

January 4, 2019 5:45 am

The Fijian economy is estimated to grow above three percent over the medium term says the Reserve Bank.

The RBF says growth will continue to be supported by robust consumption and public spending and further improvement in private investment and post-election spending.

It says sectoral performance was generally positive last year.

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Amongst the major industries, cane production increased annually by over three percent as of December 17th, but sugar production declined due to low cane quality.

Sawn timber and woodchips advanced further until November while mahogany production rose cumulatively to October despite accessibility issues.

Industrial production declined marginally in the first half of the year.

However, excluding sugar, it noted a growth of two point five percent.

 

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