The Fiji economy is now forecast to grow by 3.8 percent in 2024, an upward revision from the 2.8 percent projected in June this year.
The announcement was made by the Chairman of the Macroeconomic Committee and Reserve Bank of Fiji Governor, Ariff Ali yesterday.
“The upgrade in economic growth reflects notable improvements in several partial indicators from the middle of the year,” he said.
This was due to the higher growth and better-than-expected outturn in visitor arrivals, which grew by 6.3 percent in the year to September, almost twice the projected increase in arrivals.
“Consumption spending has gathered pace, supported by higher incomes and remittances, tourism-driven demand, higher Government spending and the pickup in new lending.”
Mr Ali added growth for 2025 has now been upgraded to 3.4 percent from the 3.0 percent expected earlier.
