BY JOHN HOUANIHAU
Tracking of the country’s economic performance needs to be enhanced.
Central Bank of Solomon Islands (CBSI) Governor, Dr Luke Forau, echoed at the Launch of the 2024 CBSI Annual Report on Monday, 28 April at the Heritage Park Hotel.
“Just as the 2023 Pacific Games Organising Committee successfully used timelines and scorecards, we need to strengthen how we monitor and track our economic performance, to enhance monitoring, encourage feedback, and accountability,” said Dr Forau.
He pointed out that the Solomon Islands must build effective systems that track each target, whether it is agricultural output or infrastructure development, using timely, accurate data to inform decisions at all levels of government.
He further said that collective efforts are required from both data providers and data users to ensure the consistent flow of economic data to track the country’s investments and monitor progress as the country charts its development aspirations forward.
“I must acknowledge the Ministry of National Planning and Development Coordination for the role they play in assessing and monitoring the country’s progress towards achieving the National Development Strategy 2016 – 2035. If practical, these policies and quantifiable targets should be embedded in the National Development Strategy document,” he said.
“We take the agriculture sector as an illustrative example, but the same focused, results-based approach can be applied to tourism, fisheries, manufacturing, and services. Doing so will accelerate growth and open broader opportunities to shape the future we want,’’ said CBSI Governor.
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