Fiji Sun Saturday 08 July 2017 On 29th June 2017, we heard and read about the National Budget that the Minister for Economy, Mr Aiyaz Sayed-Khaiyum presented in Parliament. The national budget is the document that details a country’s fiscal policy relating to Governments expenditure, revenue and tax policies.
The other critical macroeconomic policy is monetary policy.
The responsibility of monetary policy rests with central banks also called Reserve Banks.
The principal role of central banks is to maintain price stability. This means to keep inflation in control at low and stable rates so as to set the platform for sustainable economic growth, encourage investments and savings are not eroded.
For the Reserve bank of Fiji, it has added responsibility.
This includes ensuring that we have comfortable levels of foreign reserves to meet our import payment and debt repayment obligations. Read more…
