To'abaita Authority for Research & Development (TARD)

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Thursday, February 08, 2007

Government expects to collect a revenue increase in the next financial year

The Solomon Islands government expects to increase its revenue collection in the next financial year to more than 800-million dollars from the 2006's nearly 700-million dollars.

Finance Minister Gordon Darcy Lilo says this would be an increase of 29 percent.

He says combine with donors' support, the expected income will rise to nearly one billion dollars, an increase of 26 percent in total income.

Mr Lilo says the recurrent budget expenditure is expected to reach 944-million dollars, an increase of 106-million dollars from the 2006 budget.

He says the recurrent budget will be financed by the government through its internal revenue collections.

Mr Lilo says under the government's approach to rural development, projects are categorised on a provincial basis as well as by sector.

He says under this arrangement the most populous provinces will be allocated major share of funds while the most remote and least populous provinces attract the most support per head of population.

Source: SIBC

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