Even more spending, the election must be even closer

Permanent Secretary for Finance Filimoni Waqabaca has said that the Bainikhaiyum regime is going to start a round of reckless spending in the second half of this year. It looks like the regime has one strategy: spend big and make sure the regime gets all the credit for the spending. Lots of pictures of the ugly dictator lapping up attention.

Radio Fiji 28 May 2013 Expect major spending now: Waqabaca

3 Responses to “Even more spending, the election must be even closer”

  1. anonymous Says:

    Consumer spending is up around most major centres in Fiji. So the economy could be set to finally claw its way past the humble sub-2% ceiling that the Regime has not been able to break since 2006.

    Problem is that the Sugar Industry is in big trouble this year. World prices are set to plummet, but Fiji can’t even sell the depressed production output that we have, today. So a further decline is sugar could wipe out the consumer gains Fiji is currently experiencing.

    This all means there could be no genuine “good” economic news to take to the electorate in 2014. So the alternative is to spool up even more infrastructure spending to compensate. Or call an early election (in 2013) if it looks like the 2013 data is not going to be as “good” as the 2012 lot.

  2. Dredd Says:

    It amazes me that government still has money to spend in spite of the weak economic situation. So it leads me to suspect that they are quietly siphoning the FNPF where there is huge supply of cash sitting. After we do not have any auditor’s report or transparent financial reports on how govt receive and spend money.

  3. anonymous Says:

    I think most of it is supposed to come from the various soft loans that the regime has teed up from China & other sources. They said this year that they were going to source most of their capital works funding from overseas (as opposed to the FNPF). Well of course, with the regime’s version of the Parliamentary Accounts Committee still stuck reviewing expenditures from the early years following the 2006 coup, we aren’t likely to hear if that promise is going to be kept, until after the 2014 elections.

    There is also supposed to be a fairly big “black economy” in Fiji nowadays. So VAT proceeds from that might bolster the regime’s coffers by a few 10’s of millions of $s.

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