Type of Intervention: Other Announcement
Sectors Involved: Central Bank, Finance/Economy, Local Government, Private Sector and Businesses, Social Services
Intervention Categories: Education and awareness; Finance policy and financial aid
Level of Jurisdiction: National
Lead People/Agency: Chairman of the Macroeconomic Committee and Governor of the Reserve Bank of Fiji, Ariff Ali
Overview: This is an announcement Fiji’s decreasing economy by 21.7% ( most severe contraction in our modern history). The target audiences are mainly the ministry of finance and economy and business sectors. he Chairman of the Macroeconomic Committee and Governor of the Reserve Bank of Fiji, Ariff Ali said that COVID-19 pandemic has caused the decrease in Fiji’s domestic economy ( tourism industry accounts for around 35 percent of Fiji’s GDP). This has also culminated a spike in unemployment, as many businesses have scaled back or shut down operations. Mr. Alif Ali said that the “weaknesses in demand arising from reduced disposable incomes, increased unemployment, subdued business confidence and constrained government tax revenue space are expected to have a compounding effect on wholesale and retail trade, finance and insurance, construction, manufacturing, and the public administration and defence sectors”.
Full details here: https://www.fijivillage.com/news/Fijian-economy-projected-to-contract-by-217-percent–Ariff-Ali-4fx5r8/
Other links: 1
Type of Justification: Advice of INTERNAL government advisory committee or group
Source of Evidence or Justification: National – academic
Evidence/Justification: No justification