Xinhua, Suva :
The International Monetary Fund (IMF) has projected a 4.3-percent growth for Fiji in 2015 and highlighted risks to its economic growth momentum, the Fiji Broadcasting Corporation (FBC) reported Thursday.
Roberto Guimaraes, IMF’s mission chief to Fiji said that the growth momentum that the Fijian economy is going through has been exceptionally strong, and the trend will continue in the years to come.
“Economy will enter its third year of growth above 4 percent – last year the revised GDP number came up at above 5 percent – this year we expect growth to be at 4.3 and we also see some moderation going on into next year – but growth will also remain very strong next year,” Guimaraes said.
Fiji’s economic growth in 2015 is propelled by several factors, including high levels of public investment, strong tourism earnings, sturdy remittances, lower oil prices and robust credit growth, he added.
Meanwhile, according to Guimaraes, risks to Fiji’s growth momentum are broadly balanced and largely related to external developments, and the growth is subject to the growth of Fiji’s trading partners. Also, exposure to natural disasters impacts Fiji’ s economy.
“But in terms of the numbers that we look at – the fiscal cost associated with natural disasters have been quite significant in Fiji given its geographical location and given some of the trends that we’re observing including climate change, El Nino.
The International Monetary Fund (IMF) has projected a 4.3-percent growth for Fiji in 2015 and highlighted risks to its economic growth momentum, the Fiji Broadcasting Corporation (FBC) reported Thursday.
Roberto Guimaraes, IMF’s mission chief to Fiji said that the growth momentum that the Fijian economy is going through has been exceptionally strong, and the trend will continue in the years to come.
“Economy will enter its third year of growth above 4 percent – last year the revised GDP number came up at above 5 percent – this year we expect growth to be at 4.3 and we also see some moderation going on into next year – but growth will also remain very strong next year,” Guimaraes said.
Fiji’s economic growth in 2015 is propelled by several factors, including high levels of public investment, strong tourism earnings, sturdy remittances, lower oil prices and robust credit growth, he added.
Meanwhile, according to Guimaraes, risks to Fiji’s growth momentum are broadly balanced and largely related to external developments, and the growth is subject to the growth of Fiji’s trading partners. Also, exposure to natural disasters impacts Fiji’ s economy.
“But in terms of the numbers that we look at – the fiscal cost associated with natural disasters have been quite significant in Fiji given its geographical location and given some of the trends that we’re observing including climate change, El Nino.
