Answer to Question #265638 in Macroeconomics for Sharti Siral

Question

2 page summary on the impact of Covid 19 on inflation in Fiji

Answer 1

The Reserve Bank of Fiji (RBF) said on Thursday that the latest wave of COVID-19 infections in Fiji will have an impact on the economy and the tourism sector, which accounts for roughly 38 percent of the Pacific island nation's gross domestic product (GDP). The new wave of COVID-19 infections in Fiji, according to the central bank, would add to near-term economic uncertainties and potentially delay the resumption of tourist activity. Domestically, Fiji's economic activity remains sluggish, according to RBF Governor Ariff Ali, due to low output in key industries, as well as a decline in consumption and investment activity.