National Budget 2016/2017 Updates

Aiyaz Sayed-Khaiyum says the government will redouble its efforts in the National Budget to rebuild and recover after Cyclone Winston on February 20th this year.

From next year, ministries will present 3 year and 5 year plans

It is not the Finance Minister's intention to review every budget line in the 2016/2016 National Budget

Macro economic growth for Fiji is expected to be 3 percent for this year despite Tropical Cyclone Winston

Government has a sound recovery plan after Winston.

Nine consecutive years of economic growth years expected for Fiji for the first time 

Inflation is expected to remain at 2 to 3 percent

FNPF is expected to credit members 6.25 percent interest despite paying out the Cyclone Assistance funds

2016/2017 National Budget projects 3.64 billion expenditure and 3.18 billion dollars revenue

Ministry of Finance will change its name to Ministry of Economy from 1st August.

Government’s Recovery Efforts for TC Winston

Government had to act and set up the Help for Homes Initiative. Government has spent $88 million so far to assist people living in cyclone affected areas. Another $20 million will be allocated in the 2016/2017 National Budget. $207 million allocated for rehabilitation efforts. $142.6 million has been allocated to rebuild education facilities.

38 schools for Adopt the School Program.

$5.2 million allocated for damaged primary schools.

Replanting of pine - $0.5 million allocation.

$8.7 million for water and sewerage systems damaged after Winston.

Insurance companies need to do more. 

Public consultations will be held soon on insurance services and those who are under-serviced at the moment.

$527 million allocated for the Fiji Roads Authority in the 2016/2017 National Budget.

Rural roads have been allocated $95 million.

$4.5 million has been allocated for high priority bridges.

$0.5 million allocated for urgent repair of Ellington Wharf.

$200,000 allocated for preliminary works for the development of a new airport in Seaqaqa.

$308.6 million has been allocated to the Water Authority of Fiji, $229.4 million has been allocated for capital works.

Increased salaries for Early Childhood teachers in the 2016/2017 National Budget.

Grants for Early Childhood Schools increased by 33 percent.

30 more scholarships available under the National Toppers Scheme in the 2016/2017 National Budget.

Fiji National University to begin construction of its new campus in Labasa.

FNU will begin to offer graduate medical programs from next year. This will increase the pool of doctors in the country.

200 percent deduction for employers who take in graduating students for practical attachment, work placement or part-time jobs.

$1 million allocation to build a world class pilot training academy in Nadi.

Fiji Airways working with Airbus and Boeing to set up this academy which includes world class pilot simulators.

Fiji National University may be involved in this academy.

New Births, Deaths and Marriages offices to be set up Nabouwalu and Navua.

Legal Aid offices to be opened in other areas.

$3 million allocated for the extension of the CWM Hospital Maternity Unit.

New remand centre to be constructed in Lautoka.

New police station to be built in Nakasi.

Construction of all police stations will now be standardized.

$7.5 million allocated to RFMF to get specialized vehicles. This is to assist in recovery efforts after natural disasters.

New vacuum street cleaners to be introduced in some areas including Suva from next year.

National Micro Small Enterprise Council to be set up. This will be chaired by the Prime Minister. The council will provide funding, training, collect data, support and evaluate data.

Tourism industry budget allocation increased to $36 million.

Departure Tax eliminated for those visitors who stay in Fiji for less than 72 hours.

Investment Fiji allocation increased to $2.2 million.

New bill to be presented in parliament to have new retail hours. There will also be protection for shop assistants.

Govt will relax the requirement for car park spaces for new buildings.

24 hour Domestic Violence Helpline to be set up.

Food voucher program will continue.

300 percent tax deduction on wages paid to disabled employees for the first 3 years.

Govt will pay for the vocational teachers teaching at the centres for the people living with disabilities.

New regulation to be put in place tomorrow for the first two seats in buses to be reserved for people living with disabilities.

Revenue collection - machines linked to cash registers will be deployed this year to ensure that there is tax compliance.

All new hybrid vehicles will continue to enjoy duty free for the next two years.

A modest duty will be charged for second hand hybrid vehicles from next year.

FRCA will publicize details of vehicle prices when they are landed in Fiji and the price set by individual car dealers.

Cigarettes and alcohol - fiscal and import tax increased by 15 percent. This rate will continue for 3 years.

Excise tax for sugar sweetened drinks has been increased by 20 cents per litre.

$14 million set aside for doctors’ salaries.

FICAC allocated $8.5 million. 

Police constable salaries increased by 20 percent.

Police budget - $131.7 million. This is an increase of $5.5 million.

World Weightlifting Championships may be held in Fiji in 2018.

Cash rewards of $30,000 has been allocated for any Olympian who brings home a medal after the Rio Olympics. $0.5 million has been set aside for this.

More Details Soon.