New figures show Solomon Islands heading for negative economic growth | Pacific Beat

New figures show Solomon Islands heading for negative economic growth

New figures show Solomon Islands heading for negative economic growth

Updated 27 August 2014, 16:52 AEST

The ANZ bank made a substantial downward revision for its economic growth forecast for Solomon Islands, as the full impact of a recent cyclone and flood become more apparent.

The ANZ's latest Pacific Economic Quarterly has reduced growth expectations from 2.8 per cent to negative 1.5 per cent.

It is the first time Solomon Islands has experienced negative economic growth since the global financial crisis in 2009.

Economist Dan Wilson says the suspension of mining at Gold Ridge is partly to blame for the revised forecast.

Presenter: Jemima Garrett

Speaker: Dan Wilson, ANZ Bank's ASEAN and Pacific economist

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