Unity Party leader Savenaca Narube said Mr Khaiyum should seek to change his attitude and rethink his Budget for the 2020-2021 financial year. Government Budget in Fiji averaged -2.50 percent of GDP from 1992 until 2018, reaching an all time high of 5 percent of GDP in 1998 and a record low of -6.50 percent of GDP in 2001. Sayed-Khaiyum says this is based on increase in civil service salaries over the past years. TELS will no longer be allowed for USP Technical Colleges as they do not allow for cross transfers. These include assisting informal settlements by drafting proper tenancy agreement and improving basic infrastructure through formalizing and regularisation of informal settlements. Import Excise Duty will increase from 0 percent to 10 percent for imported chickens. Supplementary Budget on Thursday, 26 March 2020 at 7.30 p.m. $200,000 has been allocated to have National Youth Awards. There will be reforms of Immigration laws. This is … 4. Click Here for Budget Estimates 2020-2021. He says Health is a continuously changing sector and new initiatives will be undertaken as necessary. This is to encourage the consumption of local chickens. 10 million dollars has been allocated for Transportation Assistance. The government has announced tax deduction for certain business arenas in Fiji as the country strives to new economic recovery activities. Sayed-Khaiyum says worldwide there has been a five percent contraction in the economy, which has been the worst in 100 years. Sayed-Khaiyum says the Fijian government intends to use this funding support to redeem the US$200 million dollar global bond due in October 2020. A 200 percent tax deduction has been offered for film production companies to set up in Fiji. A new program of cadetship for incoming civil servants will also be implemented. It is projected to be 47.1 percent. Deputy Police Commissioner ACP Rusiate Tudravu says the funds allocated to them is more than enough to combat the rising issue of drugs in the country. To support pharmaceutical manufacturers in Fiji, the import on ethanol will now carry zero duty and the government is granting a 13‑year tax holiday for investments towards the setup of pharmaceutical manufacturing. Narube said the Budget lacked economic logic and had placed the country on a road to financial disaster. She is happy with the initiatives announced. Salaries stood at 620 million dollars in 2013 while the salaries stood at 1 billion dollars last year. The impact of coronavirus has affected government and the latest budget announcement comes after a $1 billion stimulus package that was announced in COVID-19 response budget earlier this year. The 2019 – 2020 Fiji National Budget was delivered this evening by the Attorney- General and Minister for Economy, Civil Service and Communications, the Honourable Aiyaz Sayed-Khaiyum. Sayed-Khaiyum says this budget paves the way towards greater triumph. Rates will reduce from 8 cents a minute to 5 cents a minute. Duty has also been increased for all other new and used non-hybrid vehicles. “Fiji’s situation demands extraordinary actions to minimise the brunt of the global economic downturn,” Mr Sayed-Khaiyum said. The projected expenditure is expected at 3.84 billion dollars. Editorial: We are less than a month away from our na­tional budget announcement for the finan­cial year 2019-2020. This will be effective from 1st January, 2020. He says it is really important to find out how much is circulating in the mini bus industry. He says by accessing these funds now, they are ensured that they are on track to access the full extent of this policy based support well in advance for the October 2020 deadline. The good news is that the $30,000 income tax threshold remains, and VAT and corporate taxes will not go up. The $3.67billion Budget outlined a list of tax reforms, the biggest tax reforms announced ever in Fiji. Josaia Nanuqa Multimedia Journalist iTaukei Desk [email protected] | @JosaiaFBCNews. It has also been highlighted that some parents have been abusing their children's bus cards. 100 percent of employer contribution to FNPF will now be tax deducted. Plastic levy will be increased from 20 cents to 50 cents on low density plastic bags. He also mentioned that for 2 and half hours Minister for Economy has been talking about the good things they have been doing in the past and at the same time trying to also admit the failures in the implementation of the policies and how people might have misused those policies. The 2019/2020 National Budget has been announced with many initiatives focusing on protecting our environment, expansion of ECAL or the Environmental and Climate Adaptation Levy on goods including vehicles, increased duty on new and used hybrid and non-hybrid vehicles, targeted assistance for people, reduced government expenditure and a target of economic growth for straight 11 years. Ground Floor, New Wing Government Buildings Suva, Republic of Fiji +679 3301 806 news@govnet.gov.fj ; Mon - Fri: 8am - 5pm; Submit Feedback July 18, 2020 6:40 am. He says the reductions have happened as some of the re-build programs have been completed. The customs and import duties will be effective from midnight tonight. Sayed-Khaiyum says we will have the single largest contraction of our economy by 21.7%, adding one-third of our workforce have either lost their jobs or are on reduced hours. He says 40 % of our GDP has gone as tourism has dried up and this includes the largest contraction of our economy by 21.7%. The Social Housing Assistance continues with an allocation of $1 million. He also says that global growth is softening according to the World Bank however the Fijian economy can outperform our trading partners in the new financial year. Fiji's government has projected a $US1.7 billion National Budget for the 2020-2021 financial year. The government will announce the National Budget for the 2020-2021 financial year on July 17, Attorney General and Minister for Economy, Aiyaz Sayed-Khaiyum said yesterday. 120 million dollars has been collected through ECAL so far this year. $650,000 will go to our 15s side to fund preparations for the Rugby World Cup year. The National Budget announcement for the 2019/2020 financial year will be delivered on June 7th. In delivering the historic Budget last night, Minister for Economy Aiyaz Saiyed-Khaiyum also announced a $US930 million stimulus package to fund the country's recovery from the impact of the Covid-19 pandemic. Minister for Economy Aiyaz Sayed-Khaiyum says just because the budget for a ministry has dropped does not mean they will not perform to what they were doing. Health Minister Dr Ifereimi Waqainabete says upgrade works for the Emergency Department will be undertaken in the new financial year while upgrade works on the Colonial War Memorial Hospital maternity ward continues. Zero percent duty has been announced for new trucks. $29.8 million was allocated to Tourism Fiji to continue global branding initiative in target markets to ensure that Fiji remains a top holiday destination and maintains its growth in the tourism sector. He also says that a strong economy keeps the lights on and keeps the water running. Existing initiatives like Free Education Year 1 to Year 13, Tuition Grants for TVET, Early Childhood Care and Education, Transport Assistance and Free Textbook Scheme will continue. Members of parliament are seen heading into parliament for the 2020-2021 Fijian National Budget announcement. .display { width:620px; height:100%; } $4 million has been allocated for sporting tours. Minister for Economy, Aiyaz Sayed-Khaiyum will deliver the 2020/2021 National Budget address at 7.30 tonight. FCCC has also reviewed mobile termination rates. He says the National Budget announcement is almost like a national dialogue. 01/12/2020 This new seawall we have built harnesses the great power of nature to build a buffer between your homes and the encroaching tides. .js .display { display:none; }, Stay tuned for the latest news on our radio stations, Copyright © 2020 Communications Fiji Limited, 24 December, 2020, 12:27 pm Central - 29°C Rain, Skipper Cup / Farebrother Sullivan Trophy Challenge. Over 800 million dollars allocated to the Education Sector. E‑Transport for mini buses will start from the next year. A major initiative in the tourism sector that was announced in the 2019/2020 budget is the Tourism Fiji Marketing Grant. Sayed-Khaiyum says they will be reinstilling the culture of gardening by rewarding school communities who look after their school gardens. The Fijian Government | 2019 - 2020 Budget Highlights Climate Change Adaptation and Mitigation As Fiji continues to progress on a development trajectory in line with its 5-Year and 20-Year National Development Plan, the adverse impacts of climate change continue to present the single greatest threat to our development aspirations. Furthermore last year, Government expenditure growth was forecast at around 4.8 percent while revenue was projected to grow by 7.2 percent and tax revenue growth was expected to be around 5.9 percent in line with the nominal GDP growth rate. The threshold to qualify for the 150% tax deductions for corporates who sponsor sports teams will be lowered from $50,000 to $15,000. Opposition Leader Sitiveni Rabuka says he does not like the 2019/2020 National Budget because the government is not reducing taxes. E‑Passports will be coming in for a more secure Fiji. The 10 percent ECAL will also be levied on the import of smart phones, air conditioners, freezers/refrigerators, television, washing machines, dryers, dishwashers, electric stoves, microwaves and electric lawn mowers. In total, we’re projecting a $3.67 billion-dollar government spend through the next financial year, with revenues projected at $1.67 billion. Another initiative is the restructure of the First Home Purchase programme which has already assisted more then 300 Fijians to purchase or construct their homes. The debt to GDP ratio will be down by 6 percent compared to the last budget. $54.4 million allocated to the Judiciary. Import Duty has also been increased for used hybrid vehicles - the new duty for used hybrid vehicles that are less than 1500cc will be $4,000 from the current $2,000 per unit, $5,000 duty for 1500cc to 2500cc used hybrid vehicles, $6,000 duty per unit for 2500 to 3000cc used hybrid vehicles and $13,000 duty per unit for those used hybrid vehicles exceeding 3000cc. He says this has become the most participatory budget consultation in the history of the country. Naboro will be made a tax free zone for the set up of waste management companies. The Import Duty on new non-hybrid vehicles that are less than 1000cc will increase from 5 percent to 15 percent. Fiji Hotels and Tourism Association President, Dixon Seeto says they are glad that tax on ECAL has broadened and also paid by other industries. #FBCNews #FijiNews #Fiji #FJBudget, Posted by FBC News on Friday, 17 July 2020. The Minister for Economy says the Bainimarama Boom is a boom for everyone. Transport Minister Jone Usamate says it is good that people will now use e-transport cards for mini buses from next year. $400,000 allocated to construct public restrooms along highways. 2019-2020 NATIONAL BUDGET ADDRESS INTRODUCTION 1. Minister for Economy, Aiyaz Sayed-Khaiyum made this announcement while delivering the 2020/2021 National Budget last night. To support all employers in Fiji, the statutory FNPF employer contribution is halved from 10 percent to 5 percent effective from 1 April 2020 to 31 December 2020. Honourable Speaker, Honourable Prime Minister, Honourable Leader of the Opposition, it is my privilege to present to Parliament and to all Fijians, across our country and overseas, the National Budget for the 2019-2020 fiscal year. There were over 50,000 engagements on facebook as part of the budget consultations. Article continues after advertisement Government spending will stand at around $3.67b, while revenue is projected at around $1.6b. Sayed-Khaiyum says government will have to resort to borrowing. ADVERTISEMENT Fijians travelling to other countries can use E‑Passport gates. The Minister for Economy says Fiji aims to recover it’s oceans and will issue Blue Bonds and build a Blue Fiji. A major initiative in the tourism sector that was announced in the 2019/2020 budget is the Tourism Fiji Marketing Grant. #FBCNews #FijiNews #Fiji #FJBudget Posted by FBC News on Friday, 17 July 2020 Keep Connected With The Latest News, Weather, And Sports on Fiji's Best Radio stations. This is to assist Fijians and businesses to get back on their feet. Laws will also come in to have collection centres around the country for PET bottles and people will be compensated for bringing in the PET bottles. Sayed-Khaiyum says Rabuka should realize that his false accusations on the economy are dangerous. 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