23 Sep 2004

ADB predicts lower growth for Fiji

12:20 pm on 23 September 2004

The Asian Development Bank is predicting a lower growth rate for Fiji this year than the Reserve Bank of Fiji.

The ADB expects growth to be 4.1 percent this year compared with the RBF's estimate of 4.7 percent.

The ADB is predicting an even lower growth of 3.2 percent for 2005 - a level described as not sufficient to meet the rise in the number of people looking for work.

The Asian Development Bank also says the government's projected fall in the budget deficit next year is over-optimistic because the falls in spending the government is relying on will be difficult to achieve.