National Budget is well designed: Economy Minister
June 19, 2019 12:45 pm
Economy Minister, Aiyaz Sayed-Khaiyum says the 2019/2020 National Budget is well-designed to ensure that the future of Fiji is safeguarded.
Sayed-Khaiyum says this budget will protect the development gains made under the Bainimarama Boom.
While giving his right of reply during the budget debate yesterday, Sayed-Khaiyum says the government held the economic growth even after TC Winston.
“We have had one of the strongest period of growth. The average growth from 2007 to 2018 is 2.7 percent and not 2.4 percent and that’s with the Green Climate Fund (GFC) and disasters like TC Winston. The average growth of 2010 to 2018 is 3.8 percent. The average growth from 2013 to 2018 stays at 4.5 percent and a much higher 4.9 percent if you exclude the growth in 2016 post TC Winston. This is the Boom Mr Speaker Sir.”
Sayed-Khaiyum says the government is on track to bring the debt to GPD ratio to around 45 percent in the next three years.
He adds the finance sustainability has been manageable as government has been borrowing to build assets to raise the productive capacity of the economy.