FIJI needs a sustained economic growth of 5 per cent to be able to create more jobs, says President Ratu Epeli Nailatikau.
Speaking to business leaders at the Fiji Commerce and Employers Federation TOPEX Conference last Saturday, he said if present economic growth trends continued, it would augur well for all Fijians.
“This is the third consecutive year that investment levels will be above 25 per cent of GDP and inflation has also slowed to 0.8 per cent from 2.4 per cent in March 2015,” he said.
“If this outcome is taken as an indicator, it could mean that Fiji is beginning to realise real improvements to livelihoods through the partnership between the private sector and Government.
“It goes without saying that the private sector will continue to play a major role in this area and on this note, I encourage the private sector to also strengthen its partnership with Government in implementing social policy initiatives for the benefit of marginalised communities and to promote their participation in business.”
Ratu Epeli echoed the sentiments expressed by Attorney-General and Finance Minister Aiyaz Sayed-Khaiyum when he opened the forum on Thursday.
The A-G challenged business leaders to think outside the box and to continuously look at ways the private sector could further boost the economy.
“If you said to the country about six or seven years ago that we would have a growth rate of 5.3 per cent and a sustained growth rate of about 4 per cent for three consecutive years, nobody would have believed us,” he said. Mr Sayed-Khaiyum said he believed that consistency in Government policies had contributed to sustained economic growth in the country.
