Apart from the serious implications on health, COVID-19 is significantly impacting businesses and the economy.
The Reserve Bank of Fiji economic review for the month of April reveals the economy is expected to contract more sharply than the negative 4.3 percent earlier estimated in 2020.
The significant fall in tourism activity and its effects will drastically indicate economic performance.
The actual magnitude of the impact will depend on the duration of the pandemic, how quickly global trade and tourism will resume, and the effectiveness of policy responses.
Businesses are urged to plan for the future and collaborate with other stakeholders in order to reduce the impact.
Minister for Economy Aiyaz Sayed- Khaiyum revealed that Fiji has contacted Australia and New Zealand on a possibility of travel to resume, however, nothing has been confirmed.
Meanwhile, domestic economic activity is anticipated to return to some normalcy from September with an economic recovery expected in 2021.