The Solomon Islands Minister of Finance, Snyder Rini, and the Minister of Planning, Steve Abana, have briefed the diplomatic and donor community on the country's economic situation and fiscal outlook.
Mr Rini highlighted the steps taken by Government to address the situation, including administrative measures on spending, prioritization of capital projects, and close monitoring of revenue and cash flow.
He also discussed initiatives to help secure medium-term growth and create jobs.
During the meeting the Minister discussed the medium-term economic outlook and potential sources of income for the country in the wake of declining logging revenues, now accelerated by the Global Financial Crisis.
These medium-term prospects include: mining, plantation agriculture, tourism, palm oil, plantation forestry and fisheries.
The Minister of Finance requested understanding and support from the international community to help Solomon Islands confront these short-term economic challenges and work alongside his government in developing the medium-term growth potential of the country.