20 Oct 2009

Global financial crisis hits Fiji mainstays

8:35 pm on 20 October 2009

A new report looking at the impact of the global financial crisis on Fiji's economy highlights a drop in two of the country's lifebloods, tourism and remittances.

The Fiji Institute of Technology's Commerce and Tourism Studies dean Dr Mahendra Reddy led the research.

He says policy responses to cushion the impact of the crisis have had no significant impact so far.

"We already had a low and slow growth of the economy rising out of the political uncertainty. What happened was with the recession in America, New Zealand and Australia, things got worse."

Mahendra Reddy says this has a direct impact on people's wellbeing.