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International Monetary Fund. Asia and Pacific Dept
This Selected Issues paper on the Solomon Islands quantifies additional spending needs for Solomon Islands to achieve key Sustainable Development Goals (SDGs) targets by 2030. The estimate indicates annual additional spending needs of about 6.9 percent of 2030 gross domestic product. Higher investment in energy infrastructure, including on renewable energy, is a key priority to strengthening climate change adaptation and paving the way toward a low-carbon transition. Creating fiscal space for projects with climate-proofing components through budget reallocation, while improving spending efficiency, would raise economic returns by building climate resilience. An integrated financing strategy with a mix of additional concessional financing and front-loaded fiscal measures, including domestic revenue mobilization, is needed and should be properly sequenced to achieve SDGs by 2030. The SDGs and climate commitment should be integrated into the existing public financial management reform agenda to achieve climate-sensitive development goals.
International Monetary Fund. Asia and Pacific Dept
Cambodia has made significant progress towards the Sustainable Development Goals (SDGs) due to years of impressive economic growth and reforms. Income growth has outpaced peers, poverty has declined, and the economy has begun to gradually diversify. At the same time, elevated financial sector vulnerabilities, development spending needs, and governance weaknesses pose challenges for further advancing sustainable growth and development.
International Monetary Fund. Asia and Pacific Dept

gradually diversify. At the same time, elevated financial sector vulnerabilities, development spending needs, and governance weaknesses pose challenges for further advancing sustainable growth and development. Policy Priorities. Safeguarding fiscal sustainability. Spending pressures should be contained and priority given to growth-enhancing infrastructure and development spending. Sustaining revenues will require modernizing revenue administration and policies to improve efficiency and equity. Managing risks from contingent liabilities calls for limiting public

International Monetary Fund. Asia and Pacific Dept

other agencies suggest that improving education, health, and water and sanitation services would cost much more in remote areas due to higher project costs. In this respect, the result could be interpreted as a relatively conservative estimate of total development spending needs. 6 In the dynamic financing model, annual SDG investment is endogenously determined by overall deficit, revenue, and non-SDG expenditure envelops that are exogenously set in line with the staff’s macroeconomic framework. 7 For example, the Ministry of Finance of Bangladesh

International Monetary Fund. Asia and Pacific Dept

sources for meeting mounting development spending needs . Fiscal space needs to be expanded through improved revenue administration and tax policy measures to offset the projected decline in logging revenues, while maximizing access to concessional donor financing. Domestic revenue mobilization should be an essential part of the agenda, particularly in developing Asia, including Solomon Islands, as tax effort appears to be relatively low compared to tax capacity ( Benedek et al., 2021 ). Compared with other PICs, Solomon Islands has benefited from a mix of grant and

Hilary Devine, Adrian Peralta-Alva, Hoda Selim, Preya Sharma, Ludger Wocken, and Luc Eyraud

countries have already experienced a wave of private sector participation in infrastructure in the 1990s. Results were disappointing, which undermined public confidence and support, and the experiment was later reversed. Lessons have been learned from this episode to make private sector delivery of infrastructure services more sustainable, both economically and socially. How much could the private sector contribute to meeting development spending needs? Historical evidence shows that the private sector takes increasing responsibilities in the provision and financing of