The head of Fiji's Ministry of Finance, Filimone Waqabaca, says prudent financial management and compliance are key elements to attaining what the interim government has set out to achieve in the 2012 National Budget.
When asked how the government will afford a 3 per cent increase to civil servant wages, he says it has increased taxes and duties on certain items.
Mr Waqabaca says adhering to financial prudence on expenditure and compliance in terms of revenue collection will help meet the goals set out by government.
He says tighter management of funds will allow the government to prepay some of its outstanding loans and achieve the long term plan to reduce debt levels.
Mr Waqabaca says during the preparation of the budget the debt level was projected to decrease to 53 per cent by 2014, but now the debt level forecast for 2012 will be 51 per cent to Gross Domestic Product.
