BY NED GAGAHE
Harry Kuma, Minister of Finance and Treasury (MoFT) has revealed that the government continues to see strong performance in total Solomon Islands Government (SIG) revenue collection for the year, 2024.
Contributing to the motion to thank the Governor-General for the Speech from the Throne on Monday, Minister Kuma stated:
“Mr. Speaker, Sir, the government continues to see strong performance in total SIG revenue collections in 2024. Total SIG revenue receipts collected were 7 percent above the projected estimate of $3,312 million.”
He noted that the strong revenue performance was largely driven by collections from Inland Revenue Division (IRD) and Customs, offsetting lower-than-expected non-tax revenue from other ministries which achieved only 85 percent of their targets.
“Sir, on the expenditure side, the government executed approximately 95 percent of the total revised budget, with 92 percent of the recurrent budget utilized,” he added.
Minister Kuma also reported that actual development expenditure reached 76 percent, or $501.4 million. The 24 percent underspending was primarily attributed to a slowdown in government activities both before and after the general elections.
For feedback, contact:[email protected]
