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Floods to slow recovery: RBF

April 11, 2012 1:22 am

Damage from the recent flooding is expected to slow recovery in Fiji’s major sectors says the Reserve Bank of Fiji.

Reporting after its monthly meeting the RBF has stated that slow recovery in agriculture and sugar will impact this year’s growth forecast of Fiji’s economy.

However, Governor Barry Whiteside says reconstruction and rehabilitation works should provide some positive impetus to the economic recovery.

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Whiteside says while domestic growth is expected to remain positive this year, partial indicators suggest continued negative performance in the labour market.

He says this is due to subdued investment in the economy.

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