Stay within your budget.

That’s the message from the Chairman of the Association of Banks in Fiji Laurie Mellsop as he stressed the unhealthy state of the economy while speaking at the Fiji Media Council Public Forum last night

Melsop stressed that people in Fiji are living well above their means and often borrowing money or getting into debt to purchase items which are not necessary.

He advised people to prepare their personal budgets and assess what they are spending on a monthly basis to reduce expenses to play their part in trying to turn the economy around.

Mellsop also called on people to think carefully before purchasing those " nice to have" items as spending on luxury items also puts added strain on the suffering economy.

The Chairman also revealed that after a hike in interest rates which affected consumers around the country, there are positives signs that interest rates will now continue to decrease gradually as the financial sector stabilizes.