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Fiji’s debt has jumped by $3.48 billion in four years, says Opposition Leader Inia Seruiratu. He warns the rapid rise in borrowing raises concerns over the country’s financial future.

Responding to the 2026–2027 National Budget in Parliament, Seruiratu said the current Government had accumulated almost the same level of additional debt in four years that took about 15 years to build up from 2006.

“From 2006, it took approximately 15 years to accumulate that level of debt. You accumulated that level of debt just within four years.”

Seruiratu said public debt had increased from around $9.1 billion when the Coalition Government came into office to a projected $12.5 billion by mid-2027.

Seruiratu also  warned that rising debt levels would place greater pressure on government finances, with more public funds being directed towards repayments instead of services and development programs.

He said debt interest payments alone were around $600 million, while additional funds would be required for principal repayments.

The Opposition Leader said government must develop a clear strategy to reduce debt and strengthen fiscal responsibility.

He said Fiji’s long-term economic stability would also depend on creating new sources of growth, warning that the country could not continue relying heavily on tourism as its main economic driver.

Seruiratu called for greater investment in agriculture, manufacturing, renewable energy, the blue economy and digital industries, saying economic diversification was critical to creating jobs, increasing exports and protecting Fiji from future global shocks.

“These outcomes must be factored as key performance indicators or KPIs for those responsible for utilizing and managing those funds. Just as important, Honorable Speaker Sir, I am aware that a number of major government projects funded through the national budget have faced implementation delays over the years. Some are still yet to be implemented.”

Seruiratu also questioned how effectively the Government had used $18.5 billion allocated through national budgets over the past four years, saying taxpayers deserved clearer answers on what those funds had delivered.

He said government budgets should not only focus on how much money was spent but whether that spending achieved measurable results for communities and improved the lives of ordinary Fijians.

Seruiratu said Parliament needed more information on the outcomes of major government projects, including whether they were completed on time, whether funds were fully utilised and what benefits they delivered.

He raised concerns over delays in implementing government-funded projects, saying slow delivery affects public services and reduces the value gained from taxpayer money.

The Opposition Leader said agencies responsible for implementing projects should be held accountable through clear performance targets, particularly when delays affect national development priorities.

He also questioned the movement of funds between ministries and programmes after the national budget had been approved by Parliament.

Seruiratu said while budget adjustments may sometimes be necessary, the public and Parliament should be informed about why funds are being transferred, which priorities have changed and how those decisions affect service delivery.

He said greater transparency around budget reallocations was needed to strengthen accountability and public confidence in government spending.

Seruiratu also challenged the Government to show how the national budget aligns with Fiji’s long-term development plans.

He said budget decisions must clearly support national priorities and deliver sustainable outcomes, rather than focus only on short-term measures.

The Opposition Leader said stronger monitoring, reporting and accountability systems were needed to ensure every dollar spent through the national budget delivers meaningful benefits for Fijians.