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FijiSavenaca-narubeMohammed-khanBank-governor-ariff-aliCentral-bankFiji-leader-savenaca-narubeReserve-bank-governor-ariff-aliReserve-bankFiji-actMarch 1, 2021 5:55 am
Reserve Bank of Fiji, Suva. [File Photo]
The economic recovery remains contingent on the resumption of international travel at least with major markets.
Reserve Bank Governor Ariff Ali says this includes Australia and New Zealand.
Ali says the economy could contract further if borders do not open this year, however, a marginal economic recovery could eventuate if borders open towards the end of the year.
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In addition, Ali says economic recovery will also depend on the level of fiscal support provided by the Government in the 2021-22 national budget.
On a positive note, the RBF’s December Business Expectations Survey shows that overall business confidence has improved slightly from six months ago, possibly reflecting the successful containment of the virus locally, businesses adjusting to the new norm and concrete steps towards immunisation across the globe.
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