PRIME Minister Sitiveni Rabuka says Fiji’s economy remains stable so far.
He said the country was currently in a position to complete the existing budget cycle but acknowledged that internal reallocation of funds was already underway to respond to changing economic conditions.
He explained that the $30million received in Australian budget support would be used to plug gaps created when reallocations were made.
“It will be to plug the holes that are left when we do the reallocation and finance is doing that right now,” Mr Rabuka said.
He clarified that there would be no additional expenditure as the funds would be absorbed into existing plans to support Fiji over the 12-month period.
He said the Government’s focus was on ensuring that essential services were protected while maintaining overall fiscal stability.
“We are in a good shape to complete this budget cycle, but with some reallocation of the budget allocations.”
He noted that the possibility of a mini budget was very likely.
“We will just take it to the end of the year with the current economic situation prevailing in the world and then have a proper full year one from January.”
