Vanuatu’s economy can expect modest growth for next two years, says Asian Development Bank

This graph by the Asian Development Bank shows their projections for growth in Pacific island economies for 2016 and 2017. Image: ADB

This graph by the Asian Development Bank shows their projections for growth in Pacific island economies for the 2016 and 2017 fiscal years. Image: ADB

The latest edition of the Asian Development Bank’s Pacific Economic Monitor has encouraging news suggesting 3.5% growth in Vanuatu’s economy for 2016 and they are expecting this to grow to 3.8% next year. The start of the major infrastructure projects and reconstruction after Cyclone Pam have helped reach this point. The Monitor says “Despite significant risks to the global economic outlook, prospects for some of the small Pacific economies have improved slightly, reflecting stronger than expected performance in tourism, fisheries and, and construction,” said Xianbin Yao, DG of the ADB. Daily Post reports what the Monitor says with detail today.

Rural news gets good coverage today in Daily Post, whether it be the 52,000 coconut seedlings or root crop planting materials shipped from Luganville to Shefa and Tafea, or the launch of the restocking programme sending 120 head of cattle to Ambrym. Agriculture Minister Matai Seremaiah said he wants farmers to support the government assistance programme to make good use of what they receive. More planting materials are soon to go to Pentecost and the programme covers Vanuatu from Torba to Tafea.

Daily Post today also covers Prime Minister Salwai’s plea for West Papua’s accession to full membership of the MSG. The PM began his speech to the MSG Leaders’ Summit in Honiara saying “It is my distinct honour and privilege to be addressing this MSG Special Leaders’ Summit and on my first outing on MSG duty as Prime Minister of the Republic of Vanuatu after our successful elections of January this year.” He was clear that he was enunciating the wishes of the people of Vanuatu and that the plea for recognition of West Papua’s ULMWP as a full member of the MSG was the same as that of the FLNKS position for Kanaky.