AGP Executive Report
Last update: an hour agoRural finance push: Cabinet has approved work on a new National Bank, including a Rural Bank component in partnership with the World Bank, aiming to bring banking back to communities long left out of formal finance after past credit union failures. Port upgrade: Honiara International Port works have entered the next phase of the International Berth 1 upgrade, with temporary marine piling structures now being fabricated to support a planned 30-metre seaward extension under the Land and Maritime Connectivity Project. Public finance snapshot: Finance Minister Gordon Darcy Lilo told Parliament Solomon Islands’ real GDP growth is revised up to 3.5% as mining, agriculture, tourism and fisheries hold up while logging declines; he also said government revenue reached about $4.1b in 2025 against spending of about $5.1b, with debt still within a 35% debt-to-GDP safety threshold. Tax crackdown: Government moves to tighten tax collection and tackle exemptions, with plans for a broad-based consumption tax (including VAT) and a rewrite of the Income Tax Act. Energy and trade security: PM Wale says Solomon Islands plans a regional fuel hub at Aruligo (targeting up to 12 months’ supply) and Australia will hand over the new Lofung border and patrol boat outpost to strengthen the western maritime frontier. Local business and courts: The High Court ordered the Seventh-day Adventist Church to pay Xiao’s Hardware $831,000 in damages after missing a filing deadline in a land-related dispute. Regional geopolitics: Pacific unity is under strain ahead of Palau’s PIF leaders meeting, with ministers unable to agree on how to respond to China’s recent missile test. Sports governance: OFC welcomed FIFA’s withdrawal of its Forward Enterprise proposal, calling for transparency and trust in football’s commercial governance.
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