No major impact says Finance Minister

June 8, 2024 7:43 am

Finance Minister Professor Biman Prasad

Finance Minister Professor Biman Prasad says the economic situation in New Zealand will not have any significant impact on Fiji.

New Zealand’s government recently outlined a soft economy, rising unemployment, and a weaker balance sheet as it delivered modest tax relief but lowered new spending and faced criticism for neglecting the country’s Indigenous population.

Prasad says New Zealand has a big economy and is expected to recover soon.

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The Minister, however, says the high cost of living in New Zealand can be reflected in some of the products Fiji imports from there.

Prasad says he does not think New Zealand’s current situation will affect Fiji’s overall economy.

He says Fiji is not going to go into recession, and it’s expected that Fiji’s economic growth rate will be at three percent or more.

He states that tourism is performing well along with other sectors.