Cabinet endorses Fiscal Strategy

February 9, 2024 6:37 am

The Cabinet has endorsed the financial year 2024-2025 Fiscal Strategy.

Section 12 of the Financial Management Act 2004 requires the Minister responsible for Finance to table a medium-term fiscal strategy to Cabinet, before tabling in Parliament, thus the Fiscal Strategy was considered and approved.

The Coalition Government after it was sworn into office in December 2022, is following through on its objective to restore financial discipline, rebuild fiscal buffers, and put the public debt situation on a path of sustainability while reshaping Fiji’s economic policies.

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Apart from addressing the fiscal situation, the Coalition Government must carefully balance supporting economic recovery and investing in infrastructure maintenance and development.

While doing this cabinet has to be mindful of its obligation to provide improved public services such as health, water, sanitation, social protection, education and national security.

The 2024-2025 Fiscal Strategy will be tabled at the next sitting of Parliament.