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Tuesday, February 06, 2007

Solomon Finance Minister hands down 2007 budget amidst packed parliament

The Solomon Islands Minister of Finance and Treasury Gordon Darcy Lilo handed down the country's 2007 budget in a packed Parliament this morning.

The nearly one billion dollar budget is the first for the current Government after coming into power April last year.

Mr Lilo said the budget is based on the performance of country's economy since last year. He said revenue collection has been favourable and the control measures taken had reaped benefit to the government's aspirations.

Mr Lilo said the focus of the budget is on rural development and the stabilisation of the economy. He said the highest allocations in this year's budget is for the Education and health sectors and salaries and emoluments.

Mr Lilo said the government will not borrow any money locally unless it's absolutely necessary.

Debate on the budget starts in parliament tomorrow.

Source: SIBC

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