Fijian economy on path to recovery despite challenges posed by COVID-19
Jul 20, 2022
Suva [Fiji], July 20 (ANI/Xinhua): The Fijian government has stepped up efforts to accelerate the economy despite challenges posed by the COVID-19 pandemic, said Fiji's Prime Minister Voreqe Bainimarama on Wednesday.
Bainimarama made the remarks in his opening address at the provincial council meeting of Ba, one of the South Pacific island country's 14 provinces, which is located on the main island of Viti Levu, according to a Fiji Broadcasting Corporation (FBC) report.
He said the Fijian government has injected money to revive economic activities, helping many businesses avoid shutting down.
After the successful reopening of its borders, Fiji's economy is projected to grow 12.4 per cent this year, up from 11.3 per cent predicted earlier, he said, adding that over 10,000 Fijians have retained their jobs.
Fiji revised up this year's economic outlook last month as its economy has been on the path to recovery after being severely affected by the COVID-19 pandemic in the past two years.
An earlier statement by the Reserve Bank of Fiji (RBF), the country's central bank, said that Fiji's economic recovery is being fuelled mainly by the resumption of international tourism and the significant easing of pandemic-related restrictions.
The Fijian economy contracted 15.2 per cent in 2020 and 4.1 per cent in 2021. (ANI/Xinhua)
