Wednesday, 31 December 2008 1:17 PM

Head of Chambers of Commerce: Budget Unrealistic

The Chairman of the Solomon Islands Chamber of Commerce and Industry, SICCI, Mike Hemmer, has said Parliament has passed an unrealistic budget.

He made the comment in an article in the Solomon Star newspaper which looked at events that happened in 2008 and the prospects for the New Year, 2009.

He said the unrealistic budget will see the government looking for extra money very early in the next fiscal year.

Mr. Hemmer says he feels that the nation's advisers, officers and leaders got this one very wrong.

Mr. Hemmer says he welcomes a success, but he hopes that they are prepared if indeed the budgeted predictions are radically wrong or otherwise erroneous.

He says the country will have a commercial market where you can get more for your money on deposit but you can't borrow to stay alive.

Mr. Hemmer says some will invest their savings trying to keep their small business afloat only to find they may have been better served to cut and run.

He says the direct result of an absence of commercial development finance will be a shrinking of the domestic commercial sector.

Mr. Hemmers says if the budget proves to be in error the country will experience further decreases in public services such as education, medical services, and infrastructure development.

Source: SIBC News