Fiji’s debt-to-GDP ratio is projected to drop to around 77.8 percent by July 2025, according to Acting Prime Minister and Minister for Finance, Biman Prasad.

Speaking at the State of the Economy Breakfast Talanoa in Suva on Wednesday, Prasad highlighted the Coalition Government’s fiscal efforts in reducing the debt ratio.

The debt-to-GDP ratio has already decreased from 90.7 percent in the 2021-2022 financial year to 79.4 percent in the 2023-2024 fiscal period.

Minister Prasad attributed the projected decline to a rapid GDP recovery and the government’s dedication to reducing fiscal deficits.

“This progress is part of our fiscal consolidation strategy, with deficits cut from as high as seven percent to between four and 4.5 percent,” he explained.

He also reiterated that prudent fiscal management remains a top priority for the Coalition Government, emphasizing a strong commitment to long-term economic stability.