THE 2025-2026 National Budget is “hoping for the best and preparing for the worst.”
Golden Manufacturers Group chief executive officer Ram Bajekal made this comment as a panelist representing the private sector at the National Budget Forum organised by Dialogue Fiji in Suva on Thursday night.
Mr Bajekal said the budget, crafted by the Deputy Prime Minister and Minister for Finance Prof Biman Prasad and his budget team, centers on three critical pillars: addressing infrastructure deficits, managing cost of living challenges and maintaining global economic competitiveness.
He said the budget’s strategic framework reveals a nuanced approach to economic development, focusing on three key environments: market, operating, and enabling,
“This multi-dimensional strategy could provide significant momentum for national economic growth,” Mr Bajekal said.
Expressing caution on public debt, Mr Bajeklal said debt would not worry the private sector if it is used for investing in capital capacity to yield incomes in the future.
“I think that’s something that the Government needs to watch because if debt is for meeting obligation of operating nature or to pay off your previous debt, then that is a concern and certainly something that the private sector would not do.
“I think therefore while debt in itself is not a concern, what we would look at from the private sector is the servicability or how servicable is the debt and what do we need to do to make it better serviced.”
He added that positive economic indicators further bolster confidence.
“The investment landscape looks promising, with 177 projects valued at $5.8 billion currently in various stages of development. From these, 16 projects have already commenced, and 73 are under active construction, signaling robust economic activity and potential job creation,” he said
“Increased visitor arrivals are expected to stimulate economic circulation, potentially improving social welfare and creating additional economic opportunities.”
Mr Bajekal further cautioned that careful monitoring is essential.
“As the nation moves forward, stakeholders will be closely watching how this expansionary budget translates into tangible economic improvements, job creation and enhanced living standards for citizens.
“The budget represents more than a financial document; it’s a strategic roadmap for economic resilience and potential transformation,” he said
Note: This article was first published on the print version of the Fiji Times dated July 5, 2025
