Thursday, 27 March 2008 6:34 AM

Rini Warns of Forest Revenue Decrease

Solomon Islands will start to see a decline of log export revenue as of next year.

Minister of Finance, Snyder Rini revealed this when tabling this year's national budget in Parliament yesterday.

It was revealed that the industry will no longer exist to generate foreign revenue for the country by 2013.

Minister Fini said Solomon Islands had, over the years, been depending on log export revenue to finance its services.

Log exports make up 70 percent of the country's foreign revenue and 17 percent of the country's national income.

Central Bank of Solomon Islands (CBSI) and Environmentalists has been echoing the concern to diversify the country's export over the years instead of depending on log exports.

Government is looking at other sources of revenue to make up for the loss including the tourism sector, fisheries and agriculture.