Gov’t: we’ll build an ‘inclusive economy’

THE Government says it is committed to building a more equitable and inclusive economy by improving the social and economic livelihoods of all Solomon Islanders.

In a statement released yesterday, government insists that it is guided by the National Development Strategy, 2016-2020 and the DCGA government policy.

Prime Minister Manasseh Sogavare highlighted during his speech at the launching of the National Financial Inclusion Strategy 3 recently.

The Prime Minister said in the past years, the Solomon Islands Government has made significant reforms to construct an inclusive economy whereby all citizens can fully participate and benefit from economic opportunities.

Prime Minister Sogavare said the DCGA Government remains focused in providing sufficient economic opportunities for all Solomon Islanders and enabling them to participate meaningfully in the mainstream economy.

Prime Minister Sogavare said it is imperative that as the country pursue its development aspirations, it must continue to be motivated.

Prime Minister Sogavare said there are diverse economic prospects for the country to increase economic activities; however, constraints have limited it from fully maximizing these economic prospects.

“Our economic growth rate has averaged 3.7% for the last 10 years and 2.4% in the recent five years, owing mainly to growth in Agriculture, manufacturing, forestry, wholesale and retail, and public administration sectors,” he said.

Prime Minister Sogavare said this indicated that growth of economic activities has increased over the years but at a slow pace.

He said despite this, most citizens, in particular, people from the informal sector are still left out of mainstream economic activities.

“Which means that economic progress does not always translate to adequate opportunities for the low-income household and those in the rural and remote Solomon Islands and this is what the Government is committed to address,” he said.


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