RBF optimistic about 2010 growth

Submitted by TemoL on Tue, 02/02/2010 - 7:28am

While performances of some major sectors are currently mixed, the Central Bank says growth is expected in major sectors such as manufacturing, agriculture and forestry, hotels and restaurants, construction, and mining among others.

The Bank says the economy was boosted by a rise in mining activity.

There was a 38.7 percent increase in gold production in 2009 and the upgrading of plant, machinery and equipment by the Vatukoula Gold Mine has contributed to the sector’s positive performance in recent months.

While tourist visitor arrivals declined by 7.8 per cent in 2009, the bank says the decline was much narrower than what had been forecast earlier in the year, after much improved visitors numbers in the latter half of 2009.