As we saw, the economic situation turned around and the country is now on a path to recovery. The current economic conditions and outlook for Fiji’s economy is stable. However, there are some risks to be borne in mind, which can have possible adverse impact on the economy should they occur. Let me share a little on recent economic developments.
That is what makes this recovery cycle unique. Automotive sector Let me use some cases studies to illustrate this. The structural transformation of the auto sector has been dramatic. The 70-per cent decline in production from peak to trough was brutal. Machinery was boxed up and sent overseas. Plants closed.