28 Apr 2011

Fiji forecasts 2.7 percent growth this year

7:07 pm on 28 April 2011

The Reserve Bank of Fiji has revised its forecast for 2011 and now says the economy is to expand by 2.7 percent this year.

This is compared to the 1.3 per cent growth predicted last year.

The Acting Governor says while the projection is higher than previous expectations, total output has only returned to 2008 levels and is still below the 2006 mark.

The tourism sector is projected to profit from continuing strong visitor arrivals, with about 660,000 tourists expected this year.

The current account deficit for 2011 is forecast at about 4.7 per cent of GDP.