IMF says Fijian economy expected to grow by around 3.2% in 2018

The International Monetary Fund says the Fijian economy is expected to grow by around 3.2% in 2018.

This is supported by strong consumption and high public investment.

IMF’s Pablo Murphy says they expect the economy to continue growing in the coming years.

However, Murphy says they think that the external conditions that the country faces is less favourable than what they were 12 months ago.

He says this is due to three reasons which include the price of oil being higher than it was last year, sugar prices being lower than last year and they have also noticed a slow down in growth for Fiji’s major trading partners.

Murphy says although Fiji’s growth in the last few years has been quite strong compared to the previous decade, they think there is a significant scope for improving growth performance.

Murphy says they think the current level of borrowings for Fiji  is manageable.

He also says they think the level of borrowing should decline overtime to keep it manageable.