Fiji Times Wednesday 02 August 2017 CONSUMER spending remains firm along with improved investment outcomes in the year to July period, the Reserve Bank of Fiji stated.
This was revealed by partial indicators highlighted in the RBF Economic Review for July released earlier this week.
Cumulative to June, the central bank stated that new bank lending for consumption purposes grew by 8.4 per cent, an increase of $32.6 million.
This was backed with higher lending to the wholesale, retail; hotels and restaurants sector by 29.0 per cent, an increase of $76.5m.
Fiji’s personal remittances were also higher in the year to June by 3.1 per cent, which is the country’s second largest foreign earner. (www.kbic.com)
The increase in remittances was underpinned by growth in gifts, maintenance and immigrant transfer receipts. Read more…
