Wednesday, March 26, 2008

FIJI Falls Behind

Imagine this.
Solomon Islands which has been through years of civil war and it took the Australians under RAMSI to bring peace to the Island is ahead of Fiji in economic growth.
Don't believe it.
You better.
According to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP) in its annual publication, Fiji's economic growth was the lowest of all Pacific island countries in 2007.

Fiji's 2007 growth statistics were measured at minus 3.9 per cent.
Minus 3.9 %. That's right. So what does that mean?
Well. Fiji's economy shrank by 3.9% in 2007.
Even Papua New Guinea which has a hard time paying its civil servants managed a higher growth than our beloved Fiji.
So much for the Wizadry of the Finance Minister.
Wasnt MPC appointed Finance Minister because he "understood Fiji's problems better then anyone and would be the best man to find solutions"?
What happened?
Add to that the fact that the latest inflation figures stood at 7.3%. Thats right. Even this figure is grossly understated. Fijis inflation is certainly in the double figures.

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