sex hikayeleri interior desing escort fethiye escort denizli porno hikaye kredi kartı borç sorgulama sitesi yayında ziraatbank borç sorgulama
FIJI NEWS
October 28, 2012 12:00:00 AM
  Follow @ Twitter

Fiji's Inflation rate continues on a general downward trend registering 3.7 percent in September and is forecast to
fall further to 3.5 percent by year-end.

The fall is driven by lower prices for food and stability in oil prices.

And our Foreign reserves are currently (26/10) around $1,587.8 million, sufficient to cover 5.0 months of retained imports of goods and non-factor services.

To keep in line with this, the Reserve Bank of Fiji has agreed to maintain the Overnight Policy Rate (OPR) at 0.5 percent.

RBF Governor and Board Chairman, Barry Whiteside says given the slowing global economy and a stable outlook for our foreign reserves and inflation, monetary policy will continue to remain accommodative to provide stimulus for economic growth.

"The escalation in the financial and debt crisis in the Euro zone and persistent weakness in the United States, is affecting economic activity across the globe, prompting the International Monetary Fund to downgrade its global
growth projections for this year and 2013, from 3.5 percent and 3.9 percent to 3.3 percent and 3.6 percent,
respectively," he said.

Whiteside stressed that downside risks have now worsened and subdued demand in our major trading partner economies has the potential to negatively impact the Fijian economy through our trade and financial linkages.

"Globally, the heightened risks are pushing authorities to maintain fiscal discipline through lower deficits and debt levels as well as shore up foreign reserves, in order to maintain buffers in the possible event of declines in their respective economies."

He added that while the pick-up domestically in consumption and business investment partly a result of the 2012 Budget stimulus measures, and good progress on the implementation of public sector capital projects continue to drive the current domestic recovery, the recent downturn in trading partner demand could mean lower production and reduced earnings for the economy from some primary exports as well as remittances.

"Nonetheless, overall economic expansion for this year is expected to remain above two percent, largely driven by the continued growth in consumption and investment related activity, evident through higher Value Added Tax collections, sales of new vehicles, private sector credit, and value of work put in place as well as domestic cement sales."

"The Macroeconomic Policy Committee is currently reviewing its April growth forecast of 2.7 percent for 2012 to take into account the combined impact of ongoing buoyancy in domestic demand on the one hand and the deterioration in external demand, on the other hand."

"Despite the increasing global uncertainty, our monetary policy objectives remain at comfortable levels," he concluded.

By Reginald Chandar
 

Bad Blood


PREVIOUS STORY
Pacific Sun tests Labasa runway
NEXT STORY
Juveniles to front court tomorrow

Post a Comment
Bookmark and Share

 


Posted Comments
No comments, but you can post the first comment!
   





Should heavier penalties be imposed on those who breach traffic laws?
 Yes
 No


Poll Results: Current | Previous

Should heavier penalties be imposed on those who breach traffic laws?
Yes
 71%
No
 29%



More Polls
Press Esc to close this window
BUSINESS
Repaired aircraft to fly from MondayThe A330 aircraft- Island of Namuka-i-Lau which underwent repair works in Brisbane, Australia is expected to return to service from Monday.
SPORTS
Fiji U20 heads to Christchurch for openerThe Vodafone Fiji U20 football team flew to Christchurch for the 2015 FIFA U20 World Cup in high spirits this morning.
WORLD
'Green'-tinted SUVs at Seoul Motor ShowGas-guzzling SUVs, eco-friendly electric cars and the odd brave attempt to marry the selling points of both are taking centre stage at the biennial Seoul Motor Show.
TECHNOLOGY
Vodafone wins top international awardVodafone Fiji has been recognised with another international award, this time at the Global Telecoms Business Innovation Awards and Innovation Summit in Piccadilly, London.
ENTERTAINMENT
Himesh ready to rock FijiBollywood actor, singer, composer and music director Himesh Reshammiya says he is touched by the Fijian way of life and is ready to entertain and rock Fijians in Suva and Nadi.
HEALTH/FITNESS
$5000 boost to assist diabetes awareness programVodafone Fiji ATH Foundation has stepped in with financial boost to assist the Lions Club in their Diabetes Awareness program.
NEWS SPORTS INFOTAINMENT MOBILE HOT TOPICS