Tuesday, 22 May 2007 9:16 AM

Growth rates up 6%

Forecasts by the Asian Development Bank put the Solomon Islands growth rates at six per cent.

The Solomon Islands economy has improved by six per cent according to forecasts by the Asian Development Bank.

The announcement was made by the Deputy Acting Prime Minister and Finance Minister Gordon Lilo Darcy during a press conference last week. Mr Lilo said that the figures have shown positive readings about the country's economy and the growth of six percent was for the five months of the current year 2007.

An economist who wishes to remain anonymous stated that while the growth rates are impressive it should be kept in mind that we are still recovering. "For an economy that is picking up after years after continuous downturn, such figures are expected" The economist said. "The real challenge is maintaining such growth rates in the long run". The economist went on to say that the bottom up approach could be a catalyst for such long term sustainability.

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