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National Parliament of Solomon Islands

 
PAC HEARINGS INTO 2017 APPROPRIATION BILL COMMENCES

MONDAY 21ST NOVEMBER 2016

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Public Accounts Committee

The Parliamentary Public Accounts Committee will begin public hearings into 2017 Budget on Monday, beginning with the Central Bank of the Solomon Islands, The World Bank, Asian Development Bank, and then the Ministry of Finance and Treasury on Day One.

Under Parliamentary Standing Orders, the Public Accounts Committee reviews the Budget on behalf of the Parliament, and reports back on issues and challenges that it finds.

This year, every Ministry will appear before the Committee over the coming 10 days.
Part of the process will be to understand key economic indicators for the Solomon Islands, including why growth is expected to be 3.25% in 2017, why 3% inflation, why nominal GDP has fallen to 5.6%, why Government is looking at record revenue collections of $3.5 billion, why a deficit budget of $179 million is proposed, and why a continued freeze on public sector staffing applies.

The Committee is expected to report to Parliament before the end of the month, and will be meeting daily until the task is complete.

ENDS///

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