Macro - Country Economic Forecasts - Solomon Islands
We lowered our GDP growth forecast for 2024 by 1.5ppts, although it is still expected to grow by 2.2% and pick up to 2.4% growth in 2025. The forecasted GDP growth for 2024 remains under the Asia Pacific average of 3.7%. The boost to GDP in 2023 has been considered a one-off as a result of large investments related to the Pacific Games; this has dampened our growth prospects in the short term. Initiatives to support agricultural industries such as crop production and fisheries are expected to increase GDP in the medium term with growth of 3.3% in 2026 and 2.6% in 2027.
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