Fiji’s Deputy Prime Minister and Minister for Finance Biman Prasad has revealed the small Pacific nation will spend FJ$4.8 billion (US$2 billion) in this year’s budget.
It means each of its approximately 933,000 citizens gets around $5,145—almost the same as the Australian federal budget allocates to each of its citizens.
But unlike resource-rich Australia, the Fijian economy derives most of its income from tourism, agriculture, and remittances (money sent home from Fijians working overseas).
At a news conference, Prasad told reporters that insulating Fiji from potential global shocks affecting its overseas earnings was one of the key budget drivers, because the measures it contains will build the country’s domestic industry….
Fiji To Spend $4.8 Billion Despite Growing Budget Deficit
