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SOLOMON ISLANDS ECONOMIC PERFORMANCE IN 2013 LAUNCH OF THE CBSI 2013 ANNUAL REPORT KITANO MENDANA HOTEL JUNE 5 2014.

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Presentation on theme: "SOLOMON ISLANDS ECONOMIC PERFORMANCE IN 2013 LAUNCH OF THE CBSI 2013 ANNUAL REPORT KITANO MENDANA HOTEL JUNE 5 2014."— Presentation transcript:

1 SOLOMON ISLANDS ECONOMIC PERFORMANCE IN 2013 LAUNCH OF THE CBSI 2013 ANNUAL REPORT KITANO MENDANA HOTEL JUNE

2 ECONOMIC GROWTH 3.2% IN 2013 BUT EXPECTED TO SLOW DOWN IN

3 PRODUCTION INDEX Improved in the second half of Weak prices & supply shocks

4 TRADE PERFORMANCE Trade (in goods & services) deficit 4

5 GROSS FOREIGN RESERVES… cover 11.2 months of import 5

6 EXCHANGE RATE SBD appreciated against AUD 6 Source: CBSI Appreciates SBD mid 2013Q3

7 CREDIT TO PRIVATE SECTOR ROSE 15% YoY to $1.46Bn 7

8 MONETARY CONDITIONS Excess liquidity fell as PSC rises 8 Source: ODCs & CBSI

9 FISCAL BALANCE…. A smaller prelim surplus of $133m 9

10 INTEREST RATES HOVERED AROUND 10% IN

11 INFLATION RATE….. Picked up in 2014 after slowing down in 2013Q4 11 Source: SINSO & CBSI

12 SUMMARY 2013  Economy rebounded in the second half  Trade deficit  Adequate External Reserves to finance trade  Another fiscal surplus  Private sector credit rebounded  Inflationary risks eased last year  Public Investments continued Outlook  Near Term Risks (higher inflation and slow growth)  Medium term – expecting growth 12


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