Caretaker Minister of Finance Lautimuia Uelese Vaai, and now a Samoa Uniting Party (SUP) member, says the country’s improved economy means campaign promises from rival political parties are now financially possible, because of the groundwork laid by the current government.

“Voting SUP for the next five years will ensure continued sound management of our economy,” Lautimuia said in an interview posted on the Samoa Ua Potopoto Facebook page. When asked whether the campaign promises made by other political parties, already in the public domain, were achievable, he replied: “Yes, they are achievable because we now have a strong economy under this government. There is sufficient funding to support those goals.”

He pointed to key economic improvements since their cabinet came to power following the COVID-19 pandemic. “When we came into Government, our economy had suffered a major hit. After COVID-19, our economic output dropped significantly,” he said. “But thanks to clear government priorities and sound financial management, we’ve seen a strong rebound.”

According to Lautimuia, inflation has dropped from 12 per cent to below three per cent, and national debt has declined from over $1 billion, more than 50 per cent of GDP, to under 20 per cent.

Lautimuia said the $1.2 billion national budget marked a historic milestone for Samoa, describing it as a sign of a strong, stable, and progressing economy. He added that the key task now is to preserve that growth and continue building on it.

He also highlighted Samoa’s foreign reserves. “The international standard is for a country to hold enough reserves to cover three months of imports. Samoa currently holds reserves covering 15 months. That is a clear indicator of our economic resilience.”

Referring to the $1.2 billion national budget that was recently rejected in parliament, Lautimuia said, “It is a reflection of a growing, stable and forward-moving economy. The challenge ahead is to maintain and build on this momentum.”