28 Nov 2005

2006 Solomon Island budget is presented

7:50 pm on 28 November 2005

The Solomon Islands Finance Minister Peter Boyers, has presented the 2006 Budget Parliament.

The government says its budget confirms its determination to continue the job of repairing the local economy through fiscal consolidation and reform while increasing Government services and accountability.

In 2006 recurrent expenditure will total over 112-million US dollars and will be fully financed without any borrowing.

The Budget provides the basis for a significant increase in spending on nine key packages designed to improve government services, promote economic growth and support the provinces.

Domestic revenue in 2006 is expected to be 14-POINT-6 percent higher than in 2005, principally through economic recovery and growth increasing inland revenue and customs