Fiji’s 2013 budget projects a net deficit equivalent to 2.8% of GDP,
wider than the 1.6% recorded in 2012 (Figure 3.32.5). The government plans
expansionary fiscal policy this year, with capital exp...
to 32% of total spending, up from 29% in the previous year, to improve
roads, water supply and sanitation, and information and communication
technology infrastructure. This will entail deficit spending financed with
domestic borrowing and loans from the export–import banks of the PRC
and Malaysia. It will further tax the government’s capacity to implement
The central bank plans to keep interest rates low to support domestic
economic growth. The current account deficit is projected to widen to
22.5% of GDP in 2013 on the back of worsening terms of trade. Imports
are expected to increase substantially as the national airline buys three
new Airbus A330 aircraft this year, hoping to improve fuel efficiency,
cargo capacity, and ultimately profitability. These developments are likely
to put pressure on the country’s foreign reserves.
Source: Fiji Ministry of Finance.
Economic and Fiscal Update:
Supplement to the 2013 Budget Address ( http://www.mfnp.gov.fj/)
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