Cabinet has endorsed the Fiscal Strategy for the 2024-2025 financial year.
In a statement, Prime Minister Sitiveni Rabuka highlighted that section 12 of the Financial Management Act 2004 (FMA) requires the Minister for Finance to table a medium-term fiscal strategy to Cabinet.
This is prior to its tabling in Parliament, thus the Financial Year 2024 –2025 Fiscal Strategy was considered and approved.
The Prime Minister said the Government was sworn into office in December 2022 and is following through on its objective to restore financial discipline, rebuild fiscal buffers, and put the public debt situation on a path of sustainability while reshaping Fiji’s economic policies.
Rabuka said apart from addressing the fiscal situation, the Coalition Government must carefully balance supporting economic recovery and investing in infrastructure maintenance and development, while being mindful of its obligation to provide improved public services such as for health, water, sanitation, social protection, education and national security.
The 2024–2025 Fiscal Strategy will be tabled at the next sitting of Parliament.
