How about some facts about the economy

Last week on Fijilive, Chodopu$$ claimed that Fiji’s exports were on the
way up again. A quick check of the statistics from the Bureau of
Statistics shows that there were sugar shipments in the first part of the
year that normally take place later in the year.

The May Report of the RBF confirms this same fact, even though it uses
very careful words to avoid showing Chodopu$$ to be a liar – “Domestic
export earnings rose by around 21.7 percent when compared with the same
period in 2007.

This was influenced by mineral water exports as well as some off-seasonal
receipts from sugar exports.”

This is a pretty desperate lie – trying to convince us that the economy is
on track by using a few months figures and then saying they represent the
year. How about giving us some real facts.

If Chodopu$$ has so much faith in the economy he should bring all his
money on-shore. The reason why he doesn’t is obvious.

He knows there is a real risk of devaluation – and if that happens, he may
need to pack his carpet bag and run.

CORRUPTION FIGHTER

Here is the article in Fijilive:

Economy on the right track: Chaudhry

06 JUN 2008

Fiji’s interim Finance Minister Mahendra Chaudhry says the nation’s
economy is on the mend since the military takeover 18 months ago.

He claims it is a major turnaround from “the highly precarious state it
was in when we took over from the Qarase Government”.

“Fiji’s foreign reserves have stabilised, government’s debt levels have
declined to 47 per cent of the GDP from a high of 52 per cent under
Qarase’s party and the national budget deficit has been contained at less
than 2 per cent of the GDP from a high of 5.5 per cent. Interest rates
have declined substantially from 14-15 per cent to around 7 per cent.

“These are real achievements based on tight control of government
expenditure and firm policy directions which show that the interim
government is clearly action-oriented and not just talk.”

Chaudhry adds that Fiji’s exports are on the way up after six years of
serious decline.

“The first quarter of 2008 shows total domestic exports rising to $198m
from $162 million for the same period in 2007,” he said.

Fiji’s main revenue earner, Tourism, which suffered a setback after the
events of 2006 is headed for a 10 per cent growth this year, he said.

Chaudhry said the interim regime is working on boosting the sugar industry
and the agriculture sector.

Qarase however says that the country needs to return to election quickly
so the economy, under pressure since the coup, is salvaged.

Certain economists have also backed Qarase’s call.

13 Responses to “How about some facts about the economy”

  1. Mark Manning Says:

    I think Chaudhry is dillusional like Frank and his followers !

  2. Budhau Says:

    “Fiji’s foreign reserves have stabilized, government’s debt levels have
    declined to 47 per cent of the GDP from a high of 52 per cent under
    Qarase’s party and the national budget deficit has been contained at less
    than 2 per cent of the GDP from a high of 5.5 per cent. Interest rates
    have declined substantially from 14-15 per cent to around 7 per cent.”

    Do you have a problem with the above statement – take into account that these a post times – unlike what Qarase was working under. Even Qarase says that the economy is under pressure because of the coup – so those numbers look real good considering ..

  3. natewaprince Says:

    Hmmmm… dammit.E dua e baci sega ni taqari matakalailai nikua.

  4. natewaprince Says:

    The only person Chodo is fooling is himself.Let time reveal the lies spewing forth from the snake.All major industries are facing difficulties including,sugar,tourism,fishing,aviation,mining,shipping,taxi/buses etc.

    What economy is he talking about.The only one that is healthy is his secret bank account in Aussie,the blerry boci.

    Tukuna ga o Phantom,”Beware of he who talks with forked tongue”.

  5. FijiGirl Says:

    How deep can Chodo wallow in denial? Deep like low tide? Deep like high tide? I’d say deep like ‘Marianas Trench’.

    Like his denial, Chodo’s ego knows no bounds.

    You don’t get to be in Chodo’s position today – Mastermind of a two-bit military coup, millions stashed in foreign bank accounts, thousands of trusting cane farmers wandering the streets of Suva at your behest, country in economic freefall during a time of stagflation, corruption rife, surreptitiously trying to rig the next elections, and so on.

    You don’t get to be in the kind of position unless you have some SEVERE personality disorders.

    This man is no leader.

    He is a despot, a terrorist and a dictator.

    He must be stopped.
    Tabu soro
    God bless Fiji

  6. Peace Pipe Says:

    I don’t really mind the self aggrandising spins the snake make on a regular basis but what really irks me is the constant finger pointing he makes at Qarase as the cause of the problem after taking power 18 months on. Its the coup and its after effects that is the heart of the problem.

  7. Budhau Says:

    Peace Pipe – just as you blame the present state of affairs at the IG – the same why way, you should blame the state of affair prior to the coup on Qarase – the man was in-charge back then.

    What Chaudary had said that some of his numbers look better than Qarase’s and Qarase did not have the coup related economic issues to deal with – so under almost ideal condition Qarase was going nowhere – and now under these extreme post coup economic pressure – if the present Minister for Finance can do better than Qarase – than that is a significant achievement – that is why the comparison.

    I am sure, that Obama would blame Bush for the mess that his country is in when he becomes the president – it is just part of the game.

  8. newsfiji Says:

    Budhau: iko mo vavi…!! Wa..ha..ha..calacala…luveni bakuwavivi!

  9. Lau Lass Says:

    Budhau, the problem is, there is NO SIGNIFICANT ACHIEVEMENT only SIGNIFICANT DESTRUCTION BY YOUR FATHER CHOROCHORO ,PERIOD !!!!

  10. Mark Manning Says:

    Budhau
    anyone can save money by not providing services in the 1st. place This I assume would have the flow on effect of reducing foreign debt .
    But one question you have avoided is , how well off would the economy be , had Qarase been able to continue with his programs etc. . Given that investment is stuffed in Fiji , that the Interim Government can’t afford many services to it’s people , that nurses and other skilled workers are leaving for stable overseas jobs with far better pay and conditions , that the sugar industry is in trouble , that tourism is declining , that the fishing industry can’t sell to the E.U. because of poor quality fish , that the I.G. keeps changing it’s mind about whether there will be elections in March 2009 or not , given all these things , don’t you realise that very soon , the whole thing will implode and poverty will increase and lawlessness will reach epidemic proportions , that growth will be stifled , and that it may take Fiji 20 years to work it’s way out of the depression , economic and social , that this illegal junta has put Fiji into ?
    An economist and realist you are not Budhau .

  11. Groggymaster Says:

    The IG and the economic guru chodo, have managed the Fiji economy in the same way the sugar industry was managed during the past two years – criminally negligently.
    The last sugar season could possibly hve been the worst perfomance ever – lowest cane hrvested, worst cane to sugar conversion ratio, etc, etc.

    The fertilizer company has subsidised supply on funds borrowed from the cne growers funds to the tune of several million – who will ultimately pay for this ?

    The analysis by JS was spot on.

    However all this mess isn’t enough. He now wants to review Air Pacific – the end result will be a crippled airline. Gosh – he can’t turn the sugar industry around and wants to meddle in a profitable business.

    There are no excuses. Chodo believed he could do a better job than LQ – bur hasn’t delivered yet. Stop complaining and making excuses. The results speak for themselves.

  12. FijiGirl Says:

    @ Groggymaster – M’chaud wants to meddle in AirPac because he wants them to bring planeloads of voters from India so he can rig the next elections.

    If he gets his hands on our national airline, it really WILL become Air Pathetic.
    Chodothru$h must be stopped.

    God Bless Fiji

  13. Corruption Fighter Says:

    @Budhau
    Yes, I have a problem. The debt to GDP numbers don’t just look good, they look too good. How can GDP go down by 4.4% and still not start to recover this year while debt as a percentage of GDP actually falls without massive repayments, which are unlikely given
    the fall in revenue to be expected with GDP falling. The denominator of the fraction (GDP) is getting smaller, so the numerator (debt) has to decline even faster.

    But answer this: why doesn’t Chaudhry bring his money on-shore? It looks like he fears a devaluation.

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