November 23, 2012

A new budget for Fiji to improve roads

Updated 22 November 2012, 18:18 AEST

Commodore Frank Bainimarama announced an increase in the national deficit.

For 2013, the budget estimates total revenue of $2.1 billion Fiji dollars and a total expenditure of $2.3 billion.

That means the estimated net deficit for 2013 will be $218 million dollars or 2.8 per cent of Fiji's Gross Domestic Product a big increase on the current deficit of 1.9 per cent.

The interim prime minister said this was necessary in order to fix Fiji's roads.

Commodore Bainimarama insists the deficit increase is not reckless spending, but rather a focused and disciplined approach to building the nation's economic capacity.

And for reaction to the budget, we're joined by Peter Mazey, President of the Fiji Chamber of Commerce.

Presenter: Bruce Hill

Speaker: Peter Mazey, President of the Fiji Chamber of Commerce

No comments: