February 03, 2012

Growth prospects downgraded

As usual, the illegal and treasonous military regime will cue their minions to to push every angle except the truth.

Now the elements are being fingered as responsible for our economic woes.

Fiji’s growth prospect likely to be affected: review
Friday, February 03, 2012

Fiji’s growth prospect for the economy this year is expected to be affected states the Reserve Bank’s latest economic review.

This is due to the possible weakening in Fiji’s trading partner demand and adverse impact from the recent floods in the western division.

Flooding has affected the agriculture, wholesale and retail, construction and - electricity and water sectors greatly.

And the Eurozone economy is expected to enter into a mild recession this year while growth for both advanced and emerging economies are expected to slow down which will have an impact on the Fijian economy.

The Reserve Bank says the latest data on sectoral performances in the last quarter of 2011 has shown mixed results.

RBF says while output from the sugar industry and visitor arrival remains buoyant; gold, electricity generation and construction activity fell further in the review period.

Report by: Ritika Pratap

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