RBF posts record $102.2m profit

Reserve Bank of Fiji Deputy Governor Esala Masitabua (far left) and fellow board members look on as Governor Ariff Ali hands over a cheque of more than $103 million to Finance Minister Prof Biman Prasad today. Picture: ELIKI NUKUTABU

THE Reserve Bank of Fiji recorded a net profit of $102.2 million for the financial year ending July 31, 2023.

RBF Governor Ariff Ali said this was an all time high profit recorded for the central bank and it signified the prudent investment of foreign reserves and the favourable interest rate environment in key countries such as the United States, Australia and New Zealand.

The RBF officially submitted its audited financial statements to the Deputy Prime Minister and Minister for Finance Professor Biman Prasad today.

“The Fijian economy remains firm on its recovery path, led by a strong rebound in tourism-related sectors. Following a 20.0 per cent growth in 2022, the Fijian economy is projected to grow by 8.0 per cent this year and moderate to 3.8 per cent in 2024,” said Prof Prasad.

He said Government would continue to work together with the RBF in growing the economy, creating more jobs, ensuring financial sector stability and promoting price stability.

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