Fiji’s national debt is projected to reach $11.7billion in 2026, Opposition Leader Inia Seruiratu told Parliament during the 2025-2026 budget debate.
He said Fiji’s total debt in 2019 stood at $5.7billion — 48.4 per cent of GDP — rising to $6.7b in 2020 and $7.7b in 2021.
“This further rose to $9.1billion or 91.1 per cent debt to GDP ratio in 2022/2023 when the current administration came into power,” Mr Seruiratu said.
He attributed the 2019–2022 rise to natural disasters and the impact of COVID-19.
“Interestingly, without encountering any major disastrous event during their period of tenure in office since coming into power in December 2022, they have raised the national debt level from $9.1billion to $11.7billion.”
Mr Seruiratu said the Government had promised to reduce debt but increased it by $2.7billion.
“Government must be urged to find a way out sooner than later because with the current trend we are heading into the doldrums.”
He added that by July 2025, the debt-to-GDP ratio would be 77.5 per cent, amounting to $10.6billion.
He warned that high debt levels could crowd out private investment and raise interest rates, limiting business expansion and innovation.
