Fijian economy on track: AG
September 14, 2019 7:00 am
The Fijian economy is on track for another year of growth but can be affected by some external global factors beyond our control.
Economy Minister Aiyaz Sayed-Khaiyum says the trade war between the United States of America and China will definitely have an impact on the economy.
Sayed-Khaiyum says while the Fijian economy will be affected by the trade war, the situation shouldn’t be taken out of context to spread misinformation that the economy is not doing well.
“The 25 percent tariff being imposed by the USA on Chinese products and then China retaliating and USA saying if they retaliate any more then they will put five percent more of tariff. It does have an impact on overall global confidence.”
Sayed-Khaiyum says as of now, the economy has been progressing as predicted.
“As of today our liquidity stood at 640 million dollars and foreign reserves stands at 2.2 billion dollars. So in that respect we are doing well.”
The International Monetary Fund and World Bank had earlier predicted a general slowing down of the global economy, but this is expected to further downgrade due to global issues.