Government to deliberate on Stimulus Package next week.

The Solomon Islands Government is preparing a stimulus package to cushion the negative impacts, coronavirus pandemic has on the local economy.

Prime Minister Manasseh Sogavare announced this during his nationwide address on COVID-19 updates last Friday.

Prime Minister Sogavare said, COVID-19 pandemic is unleashing havoc and has generated uncertainty worldwide.

“In addressing the impacts, the government is preparing a stimulus package to cushion the fallout of the pandemic on business and the general public. The Ministry of Finance and Treasury, relevant government agencies, and stakeholders are finalising it.”

The Cabinet will be meeting next week to deliberate on the stimulus pacakge.

Mr. Sogavare said, the aim of the stimulus pacakge is stabilize the shrinking local economy.

“The economic stimulus package is aimed at stabilizing our domestic economy, and to cushion the negative impacts caused by this global pandemic to businesses and the general public.”

This week, the Asian Development Bank (ADB) and the International Monetary Fund (IMF) rendered their support to the country in its preparedness and response commitments to the covid-19 pandemic.