Minister for Finance Esrom Immanuel says the upcoming national budget is being designed to keep Fiji resilient in the face of rising fuel prices, inflation and global uncertainties.
In a video message on budget expectations, Immanuel said the new budget is expected to be similar in size to the current one, but will focus on delivering more despite economic pressures.
“If you compare this financial year and the new budget in terms of nominal dollar amounts, it will probably be the same. However, if we look at the content of those budgets, I think we are doing more because we also account for the increase in prices, inflation,” he said.
The Minister acknowledged that the fuel crisis has slowed economic activity and is expected to impact government revenue.
“We expect the revenue to also fall, but we try to keep the level of expenditures,” he said.
Immanuel said the government is fully aware of the challenges facing people across the country and is putting measures in place to address them.
“We all know the issues and the challenges… and we are putting strategies and action plans in place so our economy can be protected, plus our people as well,” he said.
He also sought to reassure the public, urging calm as the government prepares its response.
“For people, do not panic, do not panic. The coalition government is aware of the issues and it’s going to put in place some strategies and action plans,” he said.
The Finance Minister said Fiji must continue preparing for future shocks, including wars, climate change, natural disasters and disease outbreaks.
“We just have to be prepared,” he said.
