Prime Minister Commodore Frank Bainimarma said he understands the burden the Fiji people feel on the increase in prices of goods and services as the result of the 20% Fiji dollar devaluation but said the positive outcome of this devaluation is the increase of our foreign reserves at $1 billion.

He told the troops in a military parade at QEB that the Governor of Reserve Bank Sada Reddy briefed the military council last week and told them that it took few years to achieve the record of $1 million in our foreign reserve coffers which has assisted Fiji in buying goods from overseas.

He also told the troops that he has been briefed by his Finance Ministry officials that they have managed to save more than $30 million fiscal surplus in the last nine months and he is also aware that most government ministries have not fully utilized their budget allocations, of which, unused funds have been diverted to the Free Bus Fare program for students from Classes 1 to Form 7.

He also said there has been an increase in the tourist arrival numbers from New Zealand and Australia recently and plans are on the table to build more hotels to cater for their arrival.