Strategies to stabilize cash flow
Prime Minister Commodore Frank Bainimarama made this submission to cabinet as it approved a strategy to safeguard government's fiscal position for the remainder of the year.
He said it is important to adopt prudent fiscal policy to cushion the impact of the global economic crisis, the extensive damage by the floods early in the year which affected key economic sectors, as well as the impact of the devaluation of the Fiji dollar.
Bainimarama said stringent control spending must be maintained to allow for the achievement of medium-term fiscal targets of reducing the net deficit and maintaining public debt at manageable levels.
He said the objective is to slow down spending patterns of Ministries and Departments, while monitoring revenue performance.
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