Fiji’s economy is facing brighter skies, says an economist for one of Australia’s banks.

Bank of Queensland chief economist and head of Market Strategy Peter Munckton made the comment last Friday.

He was speaking to participants during the Certified Practising Accountants (CPA) Australia-Fiji Branch 2017 Congress at the Shangri-La’s Fijian Resort and Spa, Yanuca Island.

“The good news is Fiji is becoming more productive,” Mr Munckton said.

Referring to the growth in Fiji’s Gross Development Product (GDP) he said the economy is having a better run, but rather improvement is needed.

“Growth in tourism markets are expanding the strongest and the Chinese are now the biggest player in the global tourism market,” he said.

Mr Munckton said that Government’s spending is up, and the levels of debts are reasonable with a good investment proportion.

With the growing in foreign investments, he said more capital expenditure was needed.

Mr Munckton said the global economy is important for Fiji, but there were risks.

“The global economy will be good next year and that’s a plus for Fiji,” he said.

“Things are very positive with how Fiji is growing.

“But one of the challenges is the maintaining of economic growth,   

“Whether it is work, rugby or an economy, having a successful culture is most important.

“What and how we work will change, but the number of jobs will reflect the strength of the economy,“ said Mr Munckton.

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