BY BARNABAS MANEBONA
THE Government through the Ministry of Finance and Treasury (MoFT) assure closely monitoring the flow on impacts of Coronavirus (COVID-19) felt throughout the country.
Prime Minister Manasseh Sogavare in his nationwide address this week Monday said whilst Solomon Islands is yet to register a COVID-19 case, financially and economically, the flow on impacts of COVID-19 continued to be felt throughout the country may likely continue well into 2021.
Nevertheless, the PM assures the nation that the Government, through the Ministry of Finance and Treasury continues to closely monitor these situations very closely and on daily, weekly and monthly basis.
“As been reported through recent statements that our economy is heading towards a recession of negative 4.3 per cent this year.
As a result, Government revenue collections are expected to fall below the estimates for 2020. Ministry of Finance & Treasury have taken revenue and expenditure measures to ensure the government continues to deliver its services effectively, and to prepare and respond to the COVID-19 threat,” said Sogavare.
“To further enhance expenditure control, the Ministry of Finance and Treasury also issued an austerity financial circular earlier this month. This circular set out clear expenditure control expectations for all SIG ministries and adherence to these requirements will be strictly enforced by Treasury.”