Prime Minister Sitiveni Rabuka will host Fiji’s first National Economic Summit, which is scheduled for April 20 and 21.
The Ministry of Finance is playing the lead role in organising the summit and facilitating papers, discussions and outcomes of the event which will feed into the upcoming budget and potentially a new National Development Plan in the future.
This was highlighted by the Minister for Finance Prof Biman Prasad yesterday.
He said the Ministry is also currently developing the baseline strategy paper on various thematic areas, which will form the basis of discussions during the summit.
“One of the thematic areas and wastewater management, which will include discussions about waste management and wastewater sector.”
He also highlighted the work of the Fiscal Review Committee chaired by Suva lawyer Richard Naidu and the Committee is currently among others reviewing the existing tax and customs systems as a whole and its ability to generate the revenue Government needs within acceptable parameters to avoid over taxation.
Prof Prasad added there is an urgent need to address the high public debt situation, which is a great concern for the Government through fiscal consolidation.
“This is supported by revenue reforms guided by the principles of fairness, simplicity and revenue adequacy and complemented by a major restraint in overall public expenditures, including reprioritisation of fiscal resources to better achieve our socio-economic and other development goals,” he added.