The central bank says domestic economy recovery this year remains contingent on the resumption of international travel and the pick-up in tourism activity locally, along with the level of fiscal support by the Government in the 2021-22 National Budget.
In its February economic review released today, the Reserve Bank of Fiji says the International Monetary Fund projected a 5.5 per cent expansion in global economic activity this year, in its January World Economic Outlook, however it adds that the recovery will be uneven as oil
exporters and tourism-based economies will continue to face pressures as scars from the crisis will be long-lasting.
Meanwhile the RBF also highlights that on the domestic front sectoral performances noted mixed outcomes in January compared with the same month a year ago, adding that visitor arrivals fell by a significant 98.5 per cent as international borders remain closed.
