Kreetika Kumar 
The government welcomes the recent credit rating assessment by S&P Global.
Finance Minister Professor Biman Prasad says the sovereign credit rating of B+/Stable/B reflects the stability provided by the government in the last 10 months.
He emphasized the government’s strong and collective effort to rebuild the nation, drive economic recovery, and put the debt situation on a path of sustainability.
The Finance Minister says the assessment applauds Fiji’s impressive tourism-led recovery, with the economy returning to pre-pandemic levels this year.
The report also highlights the government’s strong commitment to rebuild fiscal buffers in light of the elevated debt levels and acknowledges Fiji’s credible and decisive fiscal consolidation efforts.
He has agreed that the process of fiscal repair must be gradual, as any premature adverse fiscal tightening may negatively impact the economic recovery that is currently underway.
Professor Prasad says they are now focused on a major economic reset to support a private sector-led economic rejuvenation with inclusivity, fiscal discipline, and freedom at the heart of the development philosophy.
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