THE country is projected to rake in more than SBD$200 million in remittances from Solomon Islanders employed under the Labour Mobility Scheme in Australia and New Zealand for this year alone.
This is a significate increase from last year, the Permanent Secretary (PS) of the Ministry of Foreign Affairs and External Trade (MFAET) Collin Beck stated when his team appeared before the Public Accounts Committee (PAC) hearing into the 2024 Appropriation Bill (2024 Budget) on Tuesday.
Mr Beck said remittances from seasonal work hit around SBD$159million for the 12 months of 2022 and the figure for this year is expected to rise.
He said the country already earned about $113m over the first six months of 2023.
“The latest figure from CBSI for the first half of the year has recorded a total of SBD$113Million in remittances for the first and second quarter of this year,” Mr Beck said.
“This year, remittances are expected to hit around $200million. With the numbers of locals going overseas continue to increase, we are looking at $200 million plus in remittances for this year,” he added. Members of the PAC expressed appreciation over the information and want to see the government send more workers overseas to engage in skilled and semi-skilled jobs to support their families and the economy.
By MOFFAT MAMU
