Construction-led investment spending is recuperating but remains subdued relative to 2019 levels – RBF
The March quarter construction activity indicators for Fiji point towards a rebound in activity as the number of building permits, completion certificates issued and value of work put-in-place increased both over the quarter and year.
However, the Reserve Bank of Fiji says the impending general elections, rising costs and supply chain bottlenecks are likely to delay planned construction activities till next year.
Construction-led investment spending is recuperating but remains subdued relative to 2019 levels according to the latest economic review of the RBF.
It says domestic cement sales and new lending for investment purposes rose cumulatively in the first six months.
Meanwhile improved conditions were noted in the labour market.
Recruitment intentions remained high in the first half of the year as the number of job advertisements as per the RBF’s Survey rose (194.1%, to 3,833 vacancies), mainly driven by tourism-related sectors.
The RBF says the higher PAYE collections and the increase in formal employment, as per the Fiji National Provident Fund data validate the jobs survey results.
Credit: FBC TV
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