16 Feb 2006

Solomon Islands economy continues to bounce back

2:29 pm on 16 February 2006

The Solomon Islands Ministry of Finance's budget results for the past year show the economy is recovering strongly.

It collected 12 percent more revenue than it had budgetted for.

The Ministry says this additonal income was due to a growth in excise especially from logging and higher company and personal income tax.

This additional ten million US dollars had been channelled back into budget forecasts but was not fully taken up because of delays in filling vacant positions throughout the Public Service.

As a result the payroll costs were nearly two million US dollars under budget.