A whole new level of debt, and help for an all important tourism industry that's been knocked out by covid-19 pandemic..
These are hallmarks of the Fiji government's new $US1.7 billion National Budget unveiled for the 2020-2021 financial year.
Projecting a steep deficit of 20-point-2 percent, the government tabled a US$930 million stimulus package to help the economy recover from the pandemic, mostly funded by loans.
Finance minister, Aiyaz Sayed-Khaiyum, told parliament the cost of doing nothing would be far higher.
More than 100-thousand people have either become unemployed or had their hours reduced by the collapse of the country's tourism industry.
Mr Sayed-Khaiyum said another 26,000 people are now accessing relief payments.
He said the government was hoping the largest-ever economic contraction would be followed by a fast recovery.
Our reporter Christine Rovoi has been covering the delivery of this budget, and reaction to it. She said it's been discussed as the most important budget that Fiji has ever had.
Minister for the Economy, Aiyaz Sayed-Khaiyum Photo: Fiji Govt
