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Fijis growth prospect likely to be affected: review

Friday, February 03, 2012

Taken from / By: Google

Fijis growth prospect for the economy this year is expected to be affected states the Reserve Banks latest economic review. This is due to the possible weakening in Fijis trading partner demand and adverse impact from the recent floods in the western division. Flooding has affected the agriculture, wholesale and retail, construction and - electricity and water sectors greatly. And the Eurozone economy is expected to enter into a mild recession this year while growth for both advanced and emerging economies are expected to slow down which will have an impact on the Fijian economy. The Reserve Bank says the latest data on sectoral performances in the last quarter of 2011 has shown mixed results. RBF says while output from the sugar industry and visitor arrival remains buoyant; gold, electricity generation and construction activity fell further in the review period.

Report by : Ritika Pratap

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