March 29, 2013

Economy projected to grow 2% this year

Publish date/time: 27/03/2013 [16:05]

Projected recoveries in tourism and increased public capital expenditure are expected to help grow Fiji’s economy by 2.0% this year.

This is according to the Asian Development Bank Pacific Economic Monitor Growth Outlook March 2013.

The report states post-flood and post-cyclone rehabilitation of infrastructure, and an ambitious program for construction of new transport infrastructure, are expected to spur growth and result in a net budget deficit of 2.8% of Gross Domestic Product.

ADB projected that growth will accelerate to 2.3% next year due to public infrastructure works, election-related expenditure, and further expansion in tourism in line with an improving global economy.

Story by: Sofaia Koroitanoa 

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