Gov’t consults on stimulus package - Solomon Star News

Gov’t consults on stimulus package

31 March 2020
Finance Minister Harry Kuma.

GOVERNMENT authorities are currently consulting private sector representatives to put together a stimulus package to relieve any serious impacts on the national economy in view of the current Covid-19 pandemic worldwide.

Currently, the Minister of Finance and Treasury Harry Kuma is also leading discussions with our development and multilateral partners on this issue and so far responses have been very encouraging.

Prime Minister Manasseh Sogavare on Friday said that it is equally important that our economy continues to function with minimal disruption.

“The government is widely consulting with all stakeholders representing the private sector to assess the likely effect of a possible prolonged negative effect of the pandemic on the economy and to agree on a way forward to mitigate the negative effects.

“The government is also implementing fiscal measures to ensure financial resources are available to counter the pandemic and to support local businesses during both the emergency period and the recovery phase of this global pandemic. 

“We cannot be certain on how long this pandemic will continue to threaten our country but be rest assured that this government will do everything in its power to safeguard our nation and people,” Sogavare said.

The government is also implementing cost-cutting measures and putting together budgetary discipline measures to free up the much needed financial resources to boost the capability of the government to strategically protect our borders and to deal effectively with any outbreaks.