2  BIS Review 120/2008  Government’s operating to capital expenditure ratio target is 80:20 for this year, compared to the 90:10 ratio in 2007. •  Government’s expenditure restraint so far, coupled with relatively tight monetary policy settings in 2007, has ensured that Fiji’s external position was safeguarded. Government now has room to provide some fiscal stimulus to encourage economic activity.
Trade •  Exports: Export earnings remained largely flat over the years, averaging around $ billion in the last 5 years. However, cumulative to July, earnings increased by around 21 percent over the comparable period last year, with annual earnings forecast at around $ billion. Exports are forecast to continue to grow strongly in the next 2 years.