As Solomon Islands concludes its elections and looks forward to the formation of its new government, the state of its economy remains in a “Precarious” situation, says Central Bank Governor Dr Luke Forau.
“The country is at the crossroads,” Forau stated when launching the Central Bank’s 2023 Annual Report.
“We urgently need a major economic reform program if the economy were to prosper in the medium to long term,” he added.
“The reform program must be specific, targeted and measurable. The incoming government is in a better position to initiate this reform. We have a fast-growing population, with a population rate of growth higher than the average economic growth rate.”
“This is dangerously not good and is a serious concern. We need to grow the economy faster than the growth of the population.”
In the short term, Forau said the government needs to implement the budget and address the “lower hanging fruits” for example, review the legislations that need to be reviewed.
“The ultimate goal of any economic reform program must be to grow the economy.
“There is no way around this, we must grow the economy in order to support and meet the ever-growing needs of the population.”
CBSI Governor Dr. Luke Forau during the realease of the 2023 Annual Report| Credit: CBSI
In a tightly contested election race, former Prime Minister Manasseh Sogavare secured his seat, polling 1808 votes against his closest competitor, David Gurusu, who polled 1549 votes.
Among other political party policies, the two leading parties, OUR Party and CARE Coalition party has a policy on economic reforms.
Sogavare told Tavuli News this week that while he is a probable candidate for the prime minister’s post, there is strong competition from other parties as well.
“I see significant competition from other parties for the position,” he noted.
“There will likely be developments in that regard. Since everyone desires to be the prime minister, progress may be slow.
“I am not insisting on becoming the next prime minister. It’s entirely up to the coalition government to decide. At present, OUR Party faces no obstacles.”
Sogavare accuses the United States and its Western allies of trying to unseat him from office.
“My victory’s narrow margin is expected. It’s evident in various ways.
“Prior to the elections, there were indications of extensive efforts by the United States to influence the outcome in East Choiseul results,” he claimed.
“”The clear displays of the United States flag in East Choiseul during campaigning speaks volumes.
“The close margin of this year’s election was anticipated. It’s too narrow, I should have lost. This could have been a victory for the US allies. Thankfully, it turned in our favor.”
At the conclusion of vote counting on Wednesday for the remaining two constituencies of East and Central Guadalcanal with results favoring the re-election of two former DCGA (OUR Party) MPs, Bradley Tovosia and Peter Shanel Angovaka, for their fourth terms.
Counting of election votes in Kirakira, Makira Province| Credit: Charley Piringi
This brings the total number of OUR Party re-elected members to only 15 MPs with no new elected MPs for OUR Party.
And in a turn of events, OUR Party member from Gao Bugotu Constituency, Samuel Manetoali is seeking a high court ruling via the Attorney General to determine the victory of his rival Trevor Hedley Mahaga as pre-poll ballots from Honiara were uncounted during the vote count last week.
Independent candidate Trevor Hedley Mahaga won the seat by 13 ballots ahead of OUR Party candidate and incumbent MP Samuel Manetoali. Mahaga polled 2861 votes, while Manetoali received 2,848.
The 13 votes were largely unknown if they were for Manetoali or Trevor, or shared.
The issue stirs up public debates on how the electoral officers handle the issue, and if Manetoali wins, it would be a gain for OUR Party.
Currently, the two parties that have numbers and are likely to form the new government are Solomon Islands Democratic Party (SIDP) led by Mathew Wale with 11 MPs, and Sogavare’s OUR Party with 15 MPs.
SIDP is largely the CARE Coalition Party.
Other parties are United Party with 7, PFP with 3, and SIPRA, DAP, KAD, U4C with one MP each.
A total of 10 independent members were elected – 9 of them were newcomers to the political arena. They are now the targets of the leading parties as lobbying began.
Parties have started setting up camps in hotels across Honiara, while lobbying efforts have intensified.
The formation of the government remains unpredictable.
Following the completion of the vote count this week Chief Electoral Officer and Commissioner Jasper Anisi hailed this year’s election as a successful part of the democratic process, ending on a high note.
He said that this year’s voter turnout was the highest compared to past elections exceeding 85 percent.
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