7 Oct 2008

Fiji government records net surplus to June this year

11:12 am on 7 October 2008

The Reserve Bank of Fiji says the government recorded a net surplus of just under 46 million US dollars for the 12 months to June this year.

However, Australia-based economist Professor Paresh Narayan told Fijilive the surplus was only a "mathematical outcome" if it was achieved on the back of declining capital expenditure.

The RBF said this figure represented 1.3 per cent of gross domestic product and was underpinned by a decline in operating expenditure and higher revenue collections.

It said Government's capital expenditure for the first six months of the year was higher by 5.4 per cent on an annual basis.