Fijian economy could grow more than revised forecast
April 14, 2015 6:34 pm
Economist Dr Chandra Dulare says the economy will grow more than the revised forecast released by the Reserve Bank last week.
He says growth last year was driven by finance, insurance and manufacturing, however, this year a lot of other sectors have come into play.
While the Reserve Bank has forecast a revised growth rate of 4.3%, Economist Dr Chandra Dulare has a more ambitious forecast of a five percent if not more.
“We’ve got more sectors growing as opposed to last year and that coupled with a very expansionary budget and I think that will lead to much more than 4.3%.”
Dr Dulare says the government’s policies for development and higher expenditures budgeted for 2015 incorporates the revised forecast.
“I am looking at the forest not the trees at the moment – on a macro level I think the fundamentals are right the government is in fact trying to work towards higher growth – it is very clear from the budget and governments public expenditure.”
Dr Dulare says the consumer spending and investment is strong and that is something leading the growth.