5 Dec 2002

Solomons government promises growth next year

7:28 pm on 5 December 2002

The Solomon Islands Finance Minister Laurie Chan believes the Government can achieve a very small level of economic growth next year.

He has told Parliament today that while it will be small, it contrasts with the negative growth of the current year.

This report from George Atkin in Honiara.

"Mr Chan said this while delivering his 2003 budget speech in the national parliament. He says the expected growth is the result of a significant change in the methodology the government has used this year to determine what the country needs, what it can afford and where it has to draw the line. Mr Chan says the government has drawn resources from the International Monetary Fund and the World Bank to ensure its economic planning is realistic and achievable. He says the government has been plagued with unlimited desires for development, many of which are worthy, but there are limited resources to fund them. Speaking on the government's recovery plan Mr Chan says its implementation is of critical importance because people, the business sector, overseas visitors and aid donors demand economic stability and certainty."