National budget will be the key driver: Dr Kishore
July 12, 2020 4:35 pm
Economist Dr Rohit Kishore
Numerous predictions are being made about the 2020/2021 National Budget to be announced on the 17th of this month.
Economist Dr Rohit Kishore says this budget will be the key driver for economic recovery from the effects of COVID-19.
Dr Kishore believes money should be put in the private businesses and government sectors to create revenue and reduce unemployment.
“Although we will be borrowing, we have to. We see big and better countries around us borrowing largely. We are quite heavily borrowed, reaching almost seven billion dollars. I see we have no other hope, no other way and we might probably have to borrow more.”
He adds much of the expenditure has been covered through the COVID-19 response budget including the partnership with the Fiji National Provident Fund.
“Take on the money from the budget and target it to the sectors where we going to generate revenue that’s the key, investment and revenue generation. It should not really go to the expenditure.”
Meanwhile, Permanent Secretary for Economy Makereta Konrote had earlier stated that the National Budget will focus on creating more economic activity.
She highlighted that one of the important aspects of the budget is to create an enabling environment for the private sector to be able to lead an economic recovery after COVID-19.