The economic reforms undertaken by the Government have produced positive mid-term results.
Fiji’s economic standing had been upgraded to B from B- by the credit-rating agency of Standard & Poor's last month
Prime Minister Commodore Voreqe said this improved rating is a result of the strong support of our development partners and the support from the private sector.
“This improved rating is also attributed to the strong support of all our development partners, including the private sector, who have worked closely with the Fijian Government. I wish to take this opportunity to thank them for their co-operation, assistance and collaboration,” Commodore Bainimarama said.
The agency has optimistically projected a 1.3% growth in the economy after contracting in three of the last four years.
Standard and Poor’s believes our situation will continue to improve, including in the level of foreign exchange reserves, supported by a continuing recovery in the tourism sector, with a 9.0 per cent increase in visitor arrivals for the first six months this year compared to the same period in 2010.
Currently, Fiji’s foreign exchange reserves stands at around $1.6 billion dollars.
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