A recent report by the World Bank shows new challenges for Pacific Island nations as the economic success rates decline.
Economic growth in the region has dropped from 5.8% in 2023 to 3.6% this year.
The report said this is happening because post-pandemic recovery is fading away.
The decline of growth is also because the Fijian islands contribute to half of the region’s output, which World Bank records show has slowed significantly.
The long-term slowdowns are also affected by weaker investments amongst the islands, increasing climate risks, and structural challenges.
The World Bank recommends that Fiji invests in ports, inter-island shipping, and digital connectivity to further boost its economy. And with immediate action to ramp up investments, Pacific Island nations may be able to reduce poverty and generate new economic opportunities.
