The global pandemic COVID-19 has had a devastating effect on the small, micro and medium enterprise sector.

In the country SME’s employ sixty percent of the labor force.

Minister for Trade and Tourism, Premila Kumar says the SMSE sector which contributes 18 percent to the GDP is amongst the ones which have been hit the hardest.

Kumar says they support the sixty million dollars allocated for workers in the tourism sector.

“These incentives will keep our businesses afloat and carry us through these testing times. This budget is not only about businesses but consumers as well. Fijians who have taken mortgages will be able to defer their mortgage repayment in the event they are not able to repay.”

During the COVID- 19 Response Budget it was announced that the Reserve Bank will make $60m worth of loans available to banks at an interest rate of one percent which can then be loaned to small and medium-sized businesses and customers at a maximum rate of five percent.