Fiji

Government and institution measures in response to COVID-19.

Return to homepage | Last updated: 15 April, 2020

General Information

$1 billion COVID-19 Stimulus Package announced together with FNPF
Fiji economy projected to contract by 4.3 percent this year
Debt to GDP ratio to increase to 60.9 percent in 2020. Economic rebound and stronger revenues expected following COVID-19 pandemic
Asian Development Bank to top up its previously-pledged funding of US$100 million by up to US$100 million more. World Bank offering US$5.5 million from its COVID-19 facility
Downturn in tourism industry expected to impact GDP by 38 percent
Tertiary Education Loan repayments suspended until 31 December 2020

Fiji National Provident Fund

Effective from 1 April 2020 to 31 December 2020 reduction in employee and employer FNPF contribution from 8 percent and 10 percent to 5 percent respectively
Fijian workers in the hospitality sector who have lost their jobs or have had their hours cut since 1 February 2020 able to access an initial $1,000 from their FNPF accounts, with additional funds to be considered
Employees affected by the nationwide stipulated physical distancing requirements, along with employees in the Lautoka confined area who have been placed on leave without pay or had their hours cut, able to access an initial $500 from their FNPF accounts
Government to directly subsidise any shortfall in members balance

Reserve Bank of Fiji

Maintain the Overnight Policy Rate at 0.25 percent
Expand Natural Disaster and Rehabilitation Facility to include businesses affected by epidemics/ pandemics. Renamed Disaster Rehabilitation and Containment Facility
Total allocation for facility now $60million. Businesses affected by COVID-19 can access funds under this facility through commercial banks, licenced credit institutions or FDB at a maximum interest rate of 5.0 percent

Expenditure

Additional $40 million to enhance our health system’s response capacity
Additional $20 million to Education and Social Welfare respectively
Additional $1 million allocation towards Ministry of Agriculture to bolster Fiji’s food security
$50 million to the FSC to fund cane delivery payments
Additional $5 million to be added to the small and medium enterprises credit guarantee scheme

Informal sector in the lockdown areas entitled to one-off Government relief payment of $150 where holding a street trader or hawker license
Government to fund 21 days COVID- 19 leave for Fijian employees earning less than $30,000 who have tested positive for the virus
Fijians in the informal sector who tested positive for the virus to be paid a one-off sum of $1,000
Banks and hire purchase companies to offer six month deferral of loan repayments for Fijians who have lost their jobs or had their hours reduced. Also available to businesses
Banks to waive all charges on minimum balances in customer’s accounts and remove minimum purchasing requirement for electronic transactions
Fiji Investment Corporation Limited to be revived for equity injection into SMEs
Conversion of Government loans to equity in Fiji Sugar Corporation, PAFCO, Fiji Rice Limited, Food Processors Limited and Viti Corp Company Limited
Government to acquire FNPF and FHL’s shares in the FSC
WAF to suspend all disconnections until 31 December 2020
EFL to match Government’s 50 percent subsidy to its subsidized customers
20 percent pay cut for elected officials for the next six months
Pensioners monthly travel allowance reduced from $40 to $20