Solomons’ economy to grow 3.5 percent in 2018

Central Honiara. Photo: SIBC

The economic outlook for Solomon Islands this year is anticipated growth at an average of 3.5 percent per annum over the medium term.

In his budget presentation before Parliament on Monday, Minister of Finance and Treasury Manasseh Sogavare said the pick-up in growth is driven by improvement in agricultural activities, strong growth in the fisheries sector and stabilised logging activities.

Mr Sogavare said other sectors are also expected to contribute to the country’s GDP this year.

“The manufacturing, construction and utilities sector is forecast to contribute 0.6 percentage points to real GDP growth in 2018,” he said. “This year will be a year of serious consultations, planning and strategising.”

By Charlie Salini