10 May 2012

Fiji's Reserve bank says business investment remains subdued

10:44 am on 10 May 2012

Fiji's Reserve bank says business investment remains subdued across all sectors except tourism and resources.

Fiji Live quotes the Bank's Economic Review saying ongoing construction projects should firm the investment outlook and create job opportunities

It says the labour market remains weak as evident by marginal growth of 1.1 per cent in the number of vacant positions advertised in the first quarter.

However the Bank says financial conditions, on balance, are improving as evident by the yearly rise in domestic credit by 2.3 per cent in March, underpinned by a steady growth in private sector lending.

It says given that damage to crops and infrastructure from the recent floods was concentrated mainly in the Western division, the overall impact is likely to be contained.