JYOTI PRATIBHA
Fiji’s foreign reserve remain at an all-time record of $1.8billion.
Attorney-General Aiyaz Sayed-Khaiyum said this was a clear indication of the how good the country is doing.
Mr Sayed-Khaiyum also said that Fiji had seen consistent economic growth just three times over its brief independent history.
“There are only three times in Fiji’s history when the economy has grown consistently over four years. One was after independence when Monasavu was being built, one was between 1992 and 1996 when a couple of the bigger hotels were being built and one is now.
“Under the Bainimarama Government, for the past four years, we have had sustained economic growth.
“Also, for the first time, our foreign reserves are very high. It is $1.8billion, a record.”
The foreign reserves would touch the $2billion mark, if all the off shore funds that were sitting for FNPF and the sinking funds were taken into account.
“We are obviously positioned very well in terms of economic growth rate,” he said.
“What you need to understand is that the economy is growing at a good rate, there are opportunities for people and at the same time, we are putting in place infrastructural changes.”
While addressing members of the Fiji Van and Carriers Association at Fun World Plaza in Nadi, Mr Sayed-Khaiyum said people in the transport industry had also benefitted greatly from the investment Government had made in infrastructure.
“Some of you would have benefitted from the roads. Obviously, we cannot fix up all the roads in one year.
“The neglect of roads goes back 30 to 40 years. Road maintenance has been neglected and a lot of money has been wasted. Now when we are trying to rebuild the roads, we are ensuring it is done in proper way.”
He said with free education, the country could be assured of a smarter generation in coming years, which would mean a smarter country.
“We are focused on the future. Interest rates in banks have been one of the lowest ever. In the past year, banks have lent $1.2billion and a good number of this lending has been made to the private sector.”