Upcoming budget to focus on strategic financial management

May 28, 2024 12:20 pm

[File Photo]

Minister for Finance Professor Biman Prasad states that the coalition government is focusing on re-strategizing and re-aligning their objectives in the upcoming National Budget for the betterment of all Fijians.

He adds the extensive consultations across the country have helped them collect valuable feedback from citizens.

Prasad says they will be allocating funds appropriately to key priority areas to address the needs of the people.

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The Finance Minister emphasizes that while each ministry has submitted its budget proposals based on its specific requirements, its goal remains to achieve sustainable economic growth.

“To bring government’s priorities together, restore financial discipline, re-build fiscal buffers, put the public debt situation on a path of sustainability and reorient economic policies for sustainable economic growth.”

Prasad has also signalled that there will be no changes to certain taxes.

“We know that there was a negative response to the 3% import duty imposed on raw materials. We are looking closely at the arguments to take this back to zero. We are not planning any changes in rates of personal, corporate or consumption tax.”

The National Budget will be announced on June 28th.