2 Nov 2012

Reserve Bank of Fiji gives upbeat assessment

4:11 pm on 2 November 2012

The Reserve Bank of Fiji says the economic outlook for Fiji appears to be bucking international trends with strong domestic growth.

In its latest review, the Bank says labour market conditions in Fiji continue to improve, with the Job Advertisement Survey showing an increase of 22.1 per cent in the number of jobs advertised in the year to the end of September over the same month last year.

It attributes this to the strong performance in the tourism sector, with tourism-related receipts increasing by 6 and a half per cent.

Other strong performers were gold production and sugar, with cane production increasing by 2.6 per cent, reflecting both improved milling efficiency and better cane quality.

The number of building permits issued increased by 7.8 per cent, which the Reserve Bank says is a direct indicator of the growth in investment activity in Fiji.

However, Consumer Prices continue to rise, driven by price increases in all sectors, but largely the transport sector.