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Political stability is important to support economic growth.
The International Monetary Fund (IMF) says Fiji’s economy is at its best in several decades and continues to achieve its targets.
IMF Deputy Divison Chief for Asia and Pacific Department, Pablo Murphy says growth is expected to pick up to about 3.2 percent in 2018.
Murphy says the growth momentum is also projected to continue in the coming years.
He said Fiji has come a long way and the Fund is happy that elections were held this year.
"The best example you can look at is Fiji’s recent performance. If you compare what was the growth performance when democracy came back with the previous years in which there was not much political stability, you will see a striking contrast. So we are happy that there was elections in 2014 and now that we have election again in 2018, we think that this consolidates the Fijian democracy and this is good news for the Fijian economy.”
Applauding Fiji’s economy, Murphy says external factors are detrimental for the country in continuing on the great path.
The IMF says the external factors are becoming less favorable and Fiji will soon have to re-look at its policies to offset the factors with its growth.
Meanwhile, the Fund completed an Article IV consultation to Fiji with the government, the private sector and developing partners in Suva.
SOURCE: FBC NEWS/PACNEWS
Pacific Islands News Association
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