The decline in performance in our agricultural sector is the result of a combination of factors, including the vulnerability it has to natural disasters, minimal private sector investment, inadequate infrastructure, marketing deficiencies, soaring production costs and the limited access to finance. Apart from agriculture, the Reserve Bank is also committed to help grow the renewable energy sector.
At the national level, we are aware that any increase in economic activity means higher energy demand; a substantial portion of which comes from fossil fuels. Fiji imports all its mineral fuels and this dependence on imports has huge implications for our current account. Over the five years from 2006 to 2010, the current account deficit averaged around 13.4 percent of GDP.