The Reserve Bank of Fiji says in its December review of the state of Fiji's economy that the major economic impact of the military takeover is expected to be felt next year.
And given the slow down in the tourism sector, the closure of Emperor Gold Mine and the poor performance of the sugar industry in light of the national crisis, the central bank says it economic growth projection for next year would likely be revised downward.
The Fiji Times reports that visitor arrivals for 2006 have now been projected downward from 576,000 to 562,000 following significant cancellations of bookings and low visitor arrivals is also expected for next year.
It says in the report it released last night that the closure of the Mine and the laying off of casual and part-time employees of some hotels and resorts are threatening to undermine the gains realised in the labour market this year.
