Monday, 8 November 2010 9:13 AM

World Bank Works on New Strategy for Growth

Solomon Islands Finance Minister, Gordon Darcy Lilo, says the recently-elected government of Prime Minister Danny Philip is committed to serious reforms that will create opportunities and benefits for all Solomon Islanders.

The finance minister was speaking at the launch of a new World Bank report looking at future economic growth prospects.

With forests of commercial value set to decline in the coming years, coupled with post-crisis aid flows set to fall, new sources of economic growth are needed.

The new World Bank report commissioned by the former Solomon's government identifies four priorities.

They are agricultural production, natural resources including mining and tourism, opportunities for Solomon Islanders to gain skills and income by working overseas including in Australia, and better management of aid money.

Mr. Lilo says the report generally supports the new government's priorities and policy initiatives.

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