Nine key sectors critical to economic growth have still not recovered to pre-pandemic levels, says Opposition Leader Inia Seruiratu.
He told Parliament these included construction, mining, manufacturing, accommodation, arts and entertainment.
“Most of these nine sectors were affected by the 3 per cent increase in concession rates under concession code 236, 231, 235 and 117 (iii) respectively in the 2023-2024 budget,” he said.
“This is an alarming signal, as these are not fringe industries but are foundational to our economy.
“Yet, this budget offers no comprehensive strategy to target their recovery – no tailored stimulus package – no incentive frameworks – no direct capital injections. Sad.”
Mr Seruiratu said despite tourism driving headline growth, other sectors remained in recession.
“This is unsustainable. And we are wondering why our budget deficit continues to grow. Government must act on these issues.”
