Despite what economists and critics of the interim government say, the Fiji economy is in recovery mode and improving.
At a press conference this afternoon interim Finance Minister Mahendra Chaudhry stated that speakers at the Fiji Update Seminar held at USP 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% growth.
He added exports have seen steady growth and for the first 5 months of 2008, totaled $507M up 24.2% over the same period in 2007.
Chaudhry also said contrary to what has been said employment figures have risen.
Chaudhry added 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.
Economy Is Recovering: Chaudhry
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