The Solomon Islands finance and treasury minister, Rick Hou, says the country has to invest in other sectors as the logging industry declines.
Presenting the budget Mr Hou told parliament there is an ongoing need to increase public spending, so it is important there is investment beyond forestry, agriculture and mining.
He says to grow its revenue base the government must help develop sectors such as fisheries.
But Mr Hou says that would need stronger co-ordination within government as well as the private sector to identify areas of growth and remove impediments.
He says these actions are not expected to improve government revenue overnight.