I’m discovering wastage, some even bordering on financial negligence and abuse – Prof.Prasad

As the Coalition Government’s Finance Minister, Professor Biman Prasad says he is discovering areas of how wastage was happening during the previous government’s term, some even bordering on financial negligence and abuse of authority.

While responding to the President’s speech in parliament, Professor Prasad says the cases of wastage, negligence and abuse will be revealed in the near future.

He says economic growth and financial stability are dependent on accountability and transparency, the two vital features of good governance sorely lacking in the last 16 years.

The Deputy Prime Minister says the Coalition Government will soon hold a National Economic Summit and outline its plans for the future.

Professor Prasad also says they are not daunted by the $10 billion debt because they assured the nation they will fix it.

He says during the last 16 years, the regime and FijiFirst Government borrowed a whopping $7 billion.

Professor Prasad says over the next 4 years, the Coalition Government will secure $1 billion worth of investments in our tourism sector, grow the sugar and agriculture industry into a billion dollar industry, target $1 billion worth of investments in climate and into our blue economy, secure a billion dollars in manufacturing and food processing, work with banks to reduce transaction costs and keep our remittance above $1 billion annually, cut government expenditure by $1 billion and reduce our debt by $1 billion.

The Deputy Prime Minister says they will grow our economy; share the prosperity and reduce the national debt.