The Fijian economy just hit a high $551 Million dollar liquidity state after results released by Reserve Bank of Fiji.
Fiji’s liquidity is in an extremely strong position of $551 million as of 2 August 2019.
“That’s one of the highest figures ever recorded especially when compared to past governments, our liquidity sits at exceptional levels.” said Minister for Economy Aiyaz Saiyed Khaiyum.
“If any politician tries to tell you that Fiji faces a liquidity crisis, ask to see the numbers,” he added.
Opposition Whip Lynda Tabuya created alot of controversy in the country after she stood up in the parliament claiming Fiji’s liquidity was alarming low.
Although, the Reserve Bank has repeatedly claimed that liquidity was sufficient for the economy, Opposition members have come-up with “economic crisis” and “economic doom” theories.
Liquidity measured by banks’ demand deposits averaged around $360.1 million in April. As at 29th May, liquidity stood at $329.7 million according to May Economic Review.
The rapid increase in liquidity for Fiji from May to recently released August statistics, Fiji’s economy is heading towards another year of positive growth.