Fandom

Austrian Economics Wiki

Fiji

315pages on
this wiki
Add New Page
Talk0 Share
Country summary

Capital

Suva (on Viti Levu)

Borders

(N/A)

Government type

republic

Population

944,720 (July 2010 est.)[1]

Population growth

1.379% (2010 est.)[1]

Life expectancy

70.73 years[1]

Unemployment

7.6% (1999)[1]

Index of Economic Freedom

85[2]

Doing Business ranking

54[3]


Fiji became independent in 1970 after nearly a century as a British colony. Democratic rule was interrupted by two military coups in 1987 caused by concern over a government perceived as dominated by the Indian community (descendants of contract laborers brought to the islands by the British in the 19th century). The coups and a 1990 constitution that cemented native Melanesian control of Fiji led to heavy Indian emigration; the population loss resulted in economic difficulties, but ensured that Melanesians became the majority. A new constitution enacted in 1997 was more equitable. Free and peaceful elections in 1999 resulted in a government led by an Indo-Fijian, but a civilian-led coup in May 2000 ushered in a prolonged period of political turmoil. Parliamentary elections held in August 2001 provided Fiji with a democratically elected government led by Prime Minister Laisenia QARASE. Re-elected in May 2006, QARASE was ousted in a December 2006 military coup led by Commodore Voreqe BAINIMARAMA, who initially appointed himself acting president but in January 2007 became interim prime minister. Since taking power BAINIMARAMA has neutralized his opponents, crippled Fiji's democratic institutions, and refused to hold elections.[1]

Economical characteristicsEdit

  • Currency: Fijian dollar (ISO code: FJD)
  • Central bank discount rate: 3% (31 December 2009)[1]
  • Commercial banks lending rate: 7.85% (31 December 2009 )[1]
  • Stock of money (M1): $738.6 million (31 December 2008)[1]
  • Quasi money (with M1 makes M2): $1.012 billion (31 December 2008)[1]


StatisticsEdit

Statistic / Year 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008
GDP (million USD)[4] 1 942 1 684 1 660 1 843 2 316 2 728 2 963 3 168 3 351 3 590
Govt. debt (% of GDP)[5]
Govt. revenue (% of GDP)[6] 24.400 24.273 24.925
Govt. expenses (% of GDP)[7] 24.921 24.859 25.767
Debt to revenue (years)

ReferencesEdit

Note: statistical data was rounded. Different sources may use different methodologies for their estimates. Debt to revenue is calculated by dividing the two variables from their original ('unrounded') values. It represents how long it would a government take to repay its entire debt if it used its whole revenue for this purpose.

  1. 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 CIA - The World Facebook. "Fiji", from The World Facebook. Referenced 2010-10-05.
  2. Heritage Foundation. "Fiji", Economic Freedom Score. A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-10-05.
  3. Doing Business. "Fiji", Doing Business 2010 (part of The World Bank Group). A lower ranking is better; but please be careful when comparing between different countries or years. Referenced 2010-10-05.
  4. World Bank. "Fiji: GDP", from World Bank Data. Referenced 2010-10-05.
  5. World Bank. "Fiji: government debt", from World Bank Data. Referenced 2010-10-05.
  6. World Bank. "Fiji: government revenue", from World Bank Data. Referenced 2010-10-05.
  7. World Bank. "Fiji: government expenses", from World Bank Data. Referenced 2010-10-05.

External linksEdit

Ad blocker interference detected!


Wikia is a free-to-use site that makes money from advertising. We have a modified experience for viewers using ad blockers

Wikia is not accessible if you’ve made further modifications. Remove the custom ad blocker rule(s) and the page will load as expected.