Finance Minister, Professor Biman Prasad says he is discovering areas of wastage, some even bordering on financial negligence and abuse of authority.

During his maiden speech in parliament this morning Prasad says more will be revealed soon.

The Deputy Prime Minister and Finance Minister says economic growth and financial stability are dependent on accountability and transparency.

However, he says the two vital features of good governance was sorely lacking in the last sixteen years.

“We are not daunted by the ten-billion-dollar debt because we assured the nation that we will fix it. During the last 16 years, the regime and the FijiFirst government put together a borrowed a whopping $7 billion.”

Prasad says the coalition government will soon hold an economic summit to outline plans for the future.