Financial Situation Needs to be Stabilized: PM Hou

MP for South Choiseul and Former Prime Minister Honorable Manasseh Sogavare congratulating the newly elected Prime Minister and MP for South Malaita Rick Hou.

NEWLY elected Prime Minister of Solomon Islands, Honorable Rick Nelson Houenipwela says one of the important objectives of his new Solomon Islands Democratic Coalition for Change Government (DCCG) is to stabilize the fiscal position the country is currently experiencing by addressing the cash flow situation.

The Member of Parliament (MP) for Small Malaita and Prime Minister made the rhetoric statement in his inaugural speech outside the Parliament.

“My Government will ensure there is fiscal discipline across government sectors and to assist line ministries to execute their respective budgets more efficiently, effectively, and responsibly

“I assure you that my officials have already identified key areas in the productive, social and resource sectors that my Government will prioritize as our immediate short term plan,” the newly elected Prime Minister added.

Honorable, Rick Hou newly lead coalition – Solomon Islands Democratic Coalition for Change Government (SIDCCG) was formed by the 3 political parties: Kandere Party, Democratic Alliance Party (DAP) and Solomon Islands People’s First Party (SIPFP).

PM Hou said the road ahead is a challenging one given the limited time left to complete the current term of Parliament.

However, he highlighted that given the limited time frame; his new administration will focus and prioritize mainly on achievable and identified infrastructure projects only.

“We will accelerate necessary work to fast track those infrastructure projects that are crucial to quickly resuscitate government finances and the economy more broadly.

“It is also important to prioritize and invest in Infrastructure development that will provide opportunities for growth in the rural sector,” he added.

Meanwhile, the new government was formed as a result of the No confidence Motion against the former Prime Minister Manasseh Sogavare, which had led to the fall of the previous Democratic Coalition for Change Government (DCCG).