22 Apr 2008

Fiji Retailers Association questions accuracy of growth forecasts

1:39 pm on 22 April 2008

The Fiji Retailers Association president, Himmat Lodhia, has criticised a recent forecast of economic growth by the Fiji Reserve Bank.

Mr Lodhia has told the Fiji Times that the Bank's forecast of a 1.1 percent growth in 2009 and 1.6 percent in 2010 failed to reflect what is happening.

He says there is no real sign of new developments or industry growth.

According to him, there has been either no growth or negative growth.

The Reserve Bank forecasts a 0.5 percent drop this year after forecasting 2.2 growth last year.

in 2007, the economy contracted by 4.4 percent.