by Georgina Maka’a
Prime Minister Jeremiah Manele says the country is expected to see a steady economic growth over the next three years.
“Real GDP (gross domestic product) growth are expected to be 3.8% in 2025, 4.3% in 2026, and 4% in 2027, after a growth rate of 3.1% in 2024,” Manele said at the annual business breakfast event hosted by the Solomon Islands Chamber of Commerce and Industries (SICCI) in Honiara yesterday.
“The growth forecast has increased by 0.5% for 2025 and 0.4% for 2026, which is better than the pre-COVID-19 average of 2.5%.” he added.
However, Manele said some uncertainties still exist due to tensions in Europe and the Middle East and changes in commodity prices.
He stressed that the industry sector will be crucial for driving growth, especially in nickel and gold mining, which is expected to rise by 44% as projects like Gold Ridge reach full production in 2025.
“Fishing is also set to improve with a projected growth of 3.5%, thanks to good weather and increased demand for fish both locally and from other countries.” Manele added.
“ In contrast, the logging sector is expected to decline by 1.1% due to the depletion of forest resources.
“This could hurt exports and government revenue.”
Manele also highlighted that business and service sectors are projected to grow by 3.9% as the economy recovers, supported by ongoing national infrastructure projects and private initiatives like the Tina Hydro project.
The Prime Minister also highlighted the importance of working together between the public and private sectors to strengthen the economy.
Chairlady of the Solomon Islands Chamber of Commerce, Naomi Kaluae, emphasized that while the country’s economic recovery after the pandemic is progressing, it is crucial to focus on responsibly and sustainably managing the nation’s natural resources.
She said these efforts should benefit not only the economy but also local communities.
“As we reflect on our current economic landscape, it is essential to recognize the
efforts made by the government in promoting policies that encourage investment and new bills such as the Economic Zone Bill,” Kaluae stated.
She also called for fair treatment for all businesses to create a more level playing field.