28 Feb 2005

Niue finance minister confident the island's economy will improve

11:10 am on 28 February 2005

Niue's finance minister says its focus on long term financial plans will pay off for the atoll in five to ten years time.

Toke Talagi says Niue won't have to be so aid dependent, due to the government's investment into developing the private sector.

He says he predicts the economy will get a boost from developing various initiatives in tourism, and new factories for fish and noni.

Toke Talagi says the aim is to reduce Niue's overdependence on aid, particularly from New Zealand.

"There are some other assets we're hoping to generate income from...other things. And there's also the trust fund. We've just got to generate four or five major items, or portfolios we need to work on, diversifying our risk factors and therefore minimizing the impacts of economic shifts, if you like, worldwide."