Medium-Term Fiscal Strategy (FY2024-2025 to FY2026-2027).

This medium-term fiscal strategy (MTFS) covering the period FY2024-2025 to FY2026-2027 is a continuation of the Government’s commitment to restore fiscal sustainability, reduce debt, improve fiscal transparency and accountability, ensure quality and targeted expenditure and grow the economy. The FY2023-2024 National Budget of July 2023 laid the foundation for fiscal consolidation with a sizeable reduction in the fiscal deficit through carefully calibrated revenue and expenditure measures. The revenue reforms were broadly aligned with the previous Fiscal Strategy and were built on the principles of fairness, simplicity, and revenue adequacy. Following these reforms, the revenue to GDP ratio was increased to around 28 percent. On the other hand, expenditures focussed on improving efficiency in public service delivery, strengthening social protection, maintenance of critical infrastructure and addressing human resource challenges to better achieve our socio-economic and other development goals.
The primary objective of this medium-term fiscal strategy is to safeguard macroeconomic stability by promoting sustainable and resilient growth, addressing socio-economic challenges, nurturing inclusive development and building economic and fiscal safeguards to respond to future shocks. In line with Fiji's commitment to advancing gender equality, this fiscal strategy places a strong emphasis on Gender Responsive Budgeting (GRB). Through targeted allocations and policies, the Government aims to address gender disparities, foster inclusivity, and promote sustainable development.