ECONOMIC AND FINANCE SECTOR REFORMS IMPORTANT FOR D.C.C: PM

Prime Minister Manasseh Sogavare has said the Economic and Finance sector remains important in his government’s sectoral reform agenda.

Prime Minister Sogavare made the statement at the launch of the Democratic Coalition for Change Government Policy Framework in Honiara recently.

Mr Sogavare said DCC is determined to put in place good economic and finance governance policies to ensure the financial sector plays a stimulating role growing the country’s economy.

He stressed capital must move to where comparative advantages are and the financial sector must be efficient in facilitating this movement to where capital is most needed.

“Capital must move to where comparative advantages are and the financial sector must be efficient in facilitating the movements of capital to where they are most needed for productive economic activities.”

Meanwhile, the Prime Minister said DCC is under no illusion that the fiscal policy is the greatest stimulator of the economy, adding, prudent fiscal management is an unavoidable economic management strategy for his government.

SIBC News understands the last government has passed a new Public Financial Management Act last year as part of its efforts to ensure public funds are managed with accountability.