Growth forecast under review
October 28, 2012 6:15 pm
Fiji’s growth forecast of 2.7 percent is currently under review.
The Macroeconomic Policy Committee is reviewing its April growth forecast taking into account the domestic and international development.
In its October review the Reserve Bank of Fiji says the increase in the financial and debt crisis across the globe has prompted the IMF to downgrade its global growth projections.
Governor Barry Whiteside says the downside risks have worsened and subdued demand in Fiji’s major trading partners has the potential to negatively impact the Fijian economy.
However Whiteside says continued growth in consumption and investment related activities is expected to keep the economic expansion above two percent.