Riya Mala 
[Photo: FILE]
National Federation Party Leader and former Finance Minister Professor Biman Prasad says continued investment in infrastructure projects could help the country achieve economic growth of more than 2.5 percent this year, despite the recent fuel crisis.
Prasad says while the revised growth forecast of 1.5 percent is cautious, ongoing investments in roads, bridges, water supply, renewable energy, agriculture, hotels and construction are expected to strengthen economic activity and boost investor confidence.
He says the government also wants to increase capital spending in future budgets, as infrastructure investment creates jobs, improves productivity and supports long-term economic growth.
“So the last budget, this budget, aligns itself to the targets and the mission, or the vision that we have in the National Development Plan, the five-year and the three-year and five-year plan, as well as Vision 2050, where for the first time as a country, we are saying where we want to go, where we want to be in the next 24 years.”
Prasad says Fiji has recorded three consecutive years of economic growth, and if fuel prices continue to ease, the country could exceed 2.5 percent growth this year, with the potential to reach 3 percent.
He adds that the National Development Plan and Vision 2050 aim to make Fiji a high-income country, and reaching that target will require greater productivity.
Professor Prasad adds that this includes stronger collaboration between the government and the private sector, and continued investment in projects that drive economic growth.
