August 5, 2019

Liquidity levels are healthy: Fiji Economy Minister

Fiji's Economy Minister Aiyaz Sayed-Khaiyum today revealed Fiji’s latest liquidity status in Parliament after Opposition members claimed that the government has no money and the economy is in a financial crisis.

While debating the Fiji Revenue and Customs Service 2016/2017 annual report, Sayed-Khaiyum confirmed recent figures from the Reserve Bank of Fiji show a healthy economy.

“The liquidity in Fiji as of last week Friday stands at $550 million (US$254.2 million) And the foreign reserves as of last week Friday stands at $2.1billion (US$970 million). And the inflation rate as of last Friday was 0.7 percent.”

Opposition member Niko Nawaikula claims there is no growth in the economy and that the government cannot admit it.

“The problem that we have is that our financial status is bad. The government is broke. The economy is in crisis but they won’t admit it and that is the problem with this report – financial honesty. We should come here and tell the public the real situation we are in.”

NFP Leader Professor Biman Prasad also shared similar sentiments.

“I am very suspicious now about the government’s projection of its GDP figures. I would go to the extent now to say it appears these figures are cooked.”

Meanwhile, the FRCS report which was tabled on 14th May 2018 was agreed to unanimously.

SOURCE: FBC NEWS/PACBNEWS
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