Prime Minister Sitiveni Rabuka

Prime Minister Sitiveni Rabuka this morning stressed the impact of Fiji’s national debt on creating opportunities for Fijians.

In his address in the budget debate, the Prime Minister says the budget includes measures to address the high debt level, minimize wastage, direct resources to priority areas of government, and allow people access to basic services.

He says Fiji’s current debt portfolio is around $10 billion.

Rabuka says this means that with the current commitment, Fiji has to pay $1 billion annually to service the debt, which consists of $536 million in interest alone and $516 million in principle to be repaid annually.

He further adds that this simply means there is no fiscal space.

Rabuka says that there is no room or very limited capacity for the government to expedite and implement capital projects that are critical for investment and generate employment opportunities for the people.