THE Minister for Finance and Treasury Manasseh Sogavare says that the country’s economy is growing very slowly.
Mr Sogavare said this worrying statement when he wind up the debate on the 2017 Supplementary Appropriation Bill 2018 in the parliament on Monday.
He added that this is something the leaders of this country really have to concern about.
“Our economic growth is just on the border of the safety net and if consider this in relation to the population growth of this country which is around 2.8% whilst we grow at around 3.0%,” Mr Sogavare said.
This means that the country’s economic growth is just above the population growth of this country which Mr Sogavare worryingly said this is a matter of concern to the leaders.
“And this could land the country in danger of not being able to look after its citizens when we have the population growth higher than the economic growth it spells disaster and a country that basically can’t survive,” Mr Sogavare said.
But he assured the House that the government will not allow that to happen because this country has a lot of potentials which the leaders kept on mentioning it on the floor of the parliament.
“We will get this economic growth to go above our current population growth of this country,” he said.
Mr Sogavare told Parliament that the reason for highlighting the performance of the current economic growth is to highlight that the government can still fund the supplementary appropriation budget.
“But in particular the contingent warrant bit, whilst the advance warrant is funded by the country’s development partners,” he added.
By ANDREW FANASIA