The Democratic Coalition for Change (DCC) Government has recorded a major surplus of more than $364 million in the first quarter of this year.
Finance and Treasury Minister, Hon Snyder Rini announced this while briefing the Honourable Prime Minister, Manasseh Sogavare, yesterday.
The finance minister says according to the figures released, the Government’s year-to-date (YTD) finances recorded a surplus of $344.4 million and with donor budget support, the year to date figure stood at $364.5 million as of the 30th of April.
Minister Rini says the additional money injected into the national economy has resulted from a good economic management by the DCC Government which leads to the remarkable turn-around in the first quarter of this year.
This growth is mostly due to a forecast recovery in informal agriculture production, fisheries and a recovery in overall trade and services activity, particularly in manufacturing and wholesale-retail trade as the effects of the 2014 floods and the Gold Ridge Mine closure dissipate.