THE Reserve Bank of Fiji recently reported a new credit grew by 24.9 per cent.
This was highlighted by Deputy Prime Minister Manoa Kamikamica while officiating at the 6th National Real Estate Conference 2025 in Nadi yesterday.
“In terms of the Reserve Bank reports, recently, they reported up to September 2024 that new credit grew by 24.9 per cent, which is driven by higher lending in building and construction,” he said.
“And you can see that when you move around the country,
“As well as private individual investment, particularly in the second home category, this shows that investment is picking up, gaining momentum, and we will certainly continue to create the right policy frameworks, the right regulatory frameworks, the right legislative frameworks to ensure that we do maintain the growth trajectory that we currently have.
“Albeit with some pressure from external forces, but deeper aspiration is (for the economy) to grow at five per cent which I’ve mentioned earlier with the Minister of Finance, and the reason for that is from a long term perspective, unless Fiji tries to grow at more than the current average of three per cent, we will not really be able to solve our debt to GDP challenge.
“And so, I am hopeful, working with major institutional investors and few things that we’re doing in the trade space, talking to more offshore investors that we can see a genuine ramp up in GDP.
“If you see it hitting five per cent you will know that Fiji is headed in the right direction.”
