SUVA, March 12 (Xinhua) -- The Fijian economy is expected to grow by 3 percent this year, local media cited an International Monetary Fund (IMF) official as saying on Tuesday.
After a strong rebound from the COVID-19 pandemic, Fiji's economic growth is returning to its historical trend, Marshall Mills, the IMF mission chief for Fiji, Asia and the Pacific, was quoted by the Fiji Broadcasting Corporation news website.
Mills noted that Fiji's fiscal position and debt-to-GDP ratio have continued to improve significantly, adding that inflation is expected to fall to around 3 percent by the end of this year.
In order to promote strong growth, Mills said Fiji needs to continue a gradual reduction in the deficit and its fiscal consolidation.
The government's focus on financial empowerment programs is also expected to further support Fiji's economic growth and stability in the coming year, he added. ■