The projected government debt in Fiji is expected to reach $10.9 billion by July 2025, up from $10.2 billion at the end of this year. The debt-to-GDP ratio is expected to be 78% by the end of next month and 77.8% by July 2025.
The Ministry of Finance predicts that deficit financing will not be an issue due to the appetite of local financial institutions and concessional financing from multilateral banks and development partners.
The Gross Domestic Product is expected to be $13.17 billion this year and $14.02 billion next year. The 2024-2025 Budget sets a total expenditure of $4.552 billion and revenue of $3.917 billion, with a fiscal deficit of $635.5 million, or 4.5 percent of GDP.
Fiji Revenue and Customs Service is expected to exceed the $3 billion mark in tax collections for the first time this year. Due to continued emigration in 2023, inward personal remittances have increased by 21.3% to $1.26 billion.
The use of mobile money channels has grown rapidly, making it the most common channel for fund transfers.
