The Interim Finance Minister has rubbished claims that the interim government had failed to achieve its fiscal aims and contain government expenditure.

Mahendra Chaudhry said some academics have recently criticized the interim government for the poor economic growth of the country but the reality is that the current government had managed to save a lot of money and utilize it in capital works.

The Interim Finance Minister said figures have proven that the events of December 5th, 2006, were good for the Fiji economy.

When questioned at a press conference on whether the takeover of December 5th, 2006, has been good for the economy, Mahendra Chaudhry said figures have proven so and this is a result of constant mismanagement of government finances by the Soqosoqo Duavata Ni Lewenivanua (SDL) government.

"Because our economy was being mismanaged. If you have a government which mismanages, the result will be the same. So a government which mismanages the economy spends irresponsibly. That’s what SDL was doing. In five short years, they had doubled the national debt. They have nothing to show for that. They did not create assets, they did not improve our roads, our hospitals, our water supply. That money was going into consumption. We’ve cut that back."

He said the SDL government propped up an ailing economy by borrowing indiscriminately to finance ballooning budget deficits adding that Fiji's national debt had more than doubled from $1.2 billion in 2000 to $2.8 billion by 2006.

Chaudhry also stated that speakers at the Fiji Update Seminar held at the University of the South Pacific last week did not give an honest outlook of the interim government's success in achieving financial stability and turning the economy around.

Chaudhry said current improved trends in economic performance indicate that growth is likely to exceed the earlier Reserve Bank prediction of 1.7% and exports are looking good.