25 Nov 2014

ANZ report has Fiji growth rate at 4%

3:30 pm on 25 November 2014

The ANZ bank says Fiji's economy is due for four percent growth this year and next, based mainly on its investment activity.

Fiji Broadcasting Corporation reports the bank's quarterly review has dropped the inflation forecast rate to 1.3 percent from 2.3 percent.

It also says the Reserve Bank of Fiji should act pre-emptively and tighten policy in a measured manner to moderate demand pressures, particularly credit growth.

ANZ says the tourism sector, as the main source of foreign exchange, has registered a strong performance, increasing to four percent in the first half of this year.