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Fijian Economy grew by 4.2% last year: Ali

May 11, 2018 1:13 am

The Reserve Bank has estimated the Fijian economy grew by 4.2 percent last year, with some slight changes to growth contributions.

Governor Ariff Ali, says the initial forecast for this year was 3.6 percent but this has been revised downwards to 3.2 percent due to Tropical Cyclones Josie and Keni.

Ali says the two natural disasters impacted the Agriculture sector and as a result the economy will grow at a slower pace.

“Forecast for next year initially was three point two percent but we’ve upgraded that to three point four percent and for 2020, we’re expecting the economy to grow at three point two percent and we’ve never had nine years of consecutive growth now we’re projecting eleven years of consecutive growth bearing any natural disaster and risk.”

Ali was speaking at the Franco-Fiji Business Dialogue in Suva yesterday aimed at strengthening economic relations with France.