Fiji’s economic recovery in 2022 will primarily be supported by the recommencement of tourism and its positive spillover effect on other sectors.
Minister for Trade and Commerce, Faiyaz Koya highlights the future is always uncertain, but Fiji has learnt a lot of lessons during the COVID-19 pandemic.
While there is an uneven recovery in different sectors of our economy, Koya says the overall trade performance has been strong and will continue next year.
“We remain optimistic that our path towards economic recovery will continue and in Fiji’s case there is a good demand for goods and services as a result of easing of pandemic restrictions etc. Domestically opening up of our borders and also from our economic stimulus packages.”
A number of sectors are dependent on the tourism industry, and its closure had a spillover effect.
However, Koya says the pandemic helped Fiji become more certain of the challenges it faces in terms of vulnerability and inter-dependence.
“Very optimistic and we are looking forward to countering the damage that has occurred as we begin to look forward to the rebound.”
The Reserve Bank has forecast that Fiji’s economy is expected to have a rebound of around 11.3% next year, following a 15% contraction in 2020 and a 4.1% decline in 2021.
Read More: Tourism industry will support recovery: Koya