CBSI Governor calls for strict management of 2023 Pacific Games fund
Governor of the Central Bank of Solomon Islands Dr. Luke Forau calls on the government to strictly manage the finances allocated for the 2023 Pacific Games to avoid huge financial pressures.
Dr Forau made the call in his macro-economic update recently.
He says the 2023 Pacific Games can cause huge pressure on government finances.
With fiscal position continues to deteriorate, and economy continue to grow at a slower pace, this could lead to a more debt financing although we take pride in the 2023 pacific games,
it is a commitment that could put pressure on government finance if not well managed.
Dr Forau adds, the debt to the Gross Domestic Product ratio is expected to increase up to 30- percent by 2023 when the Pacific Games kicks off.
“Mainly the construction sector will be the beneficial industry and that could provide other knock on effects on the economy, that is if the project is well managed.
It’s a huge project that really needs to be well managed”, he adds.