The sound of silence: minimal changes to taxes in Papua New Guinea’s 2021 Budget [analysis]

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There were few tax surprises in the 2020-21 Budget. However, what was not there was just as significant as what was, according to KPMG’s Tax Partner in Papua New Guinea, Karen McEntee.

Papua New Guinea’s 2021 National Budget: the most ‘challenging in our lifetime’

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The current economic conditions are the most ‘challenging in our lifetime’, according to Justin Smirk, Senior Economist at Westpac. He told a Business Advantage PNG briefing that the success of the 2021 National Budget depended on getting Papua New Guinea’s non-resources economy firing.

Parliament passes budget bills in lightning session, then adjourns until April 2021

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Parliament sat briefly and unexpectedly yesterday to pass the 2021 National Budget legislation after Speaker Job Pomat ruled that last Friday’s surprise adjournment was illegal. It may not sit again until April 2021.

Budget paper: Papua New Guinea’s revenue problem means it must raise more debt

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The suspension of Parliament means that Papua New Guinea’s 2021 National Budget will be delayed until at least next month and possibly longer. Whenever it is finally delivered – and whoever delivers it – the recently released Budget Strategy Paper clearly outlines the challenges it must address.

Papua New Guinea’s budget challenges outlined in two new reports

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Two new reports have outlined the revenue challenges being faced by Papua New Guinea’s government in the face of the COVID-19 pandemic.

What the International Monetary Fund is doing in Papua New Guinea

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With Papua New Guinea’s government debt set to rise to over 40 per cent of GDP due of the COVID-19 crisis, the International Monetary Fund’s PNG Mission Chief, Scott Roger, explains how the IMF is helping the country get back on a sustainable financial course.

Analysis: Can Papua New Guinea avoid the COVID-19 debt trap?

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Dodging the debt trap: Papua New Guinea’s government must be cautious with COVID-19 spending

Papua New Guinea Treasurer details K600 million stimulus package

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Papua New Guinea’s National Executive Council has announced that K600 million will start to flow to the health, security, agriculture, business and household sectors as a first step in the government’s K5.7 billion coronavirus Economic Stimulus Package. Treasurer Ian Ling-Stuckey said this is K100 million more than was initially planned.

War chest: oversubscribed COVID-19 bond will help Papua New Guinea fight virus

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The government’s COVID-19 bond was oversubscribed after the first week, according to Treasurer Ian Ling-Stuckey. He said over K1 billion was raised and that the money will help protect Papua New Guineans from the worst effects of the coronavirus pandemic.

Explainer: Papua New Guinea’s stimulus package relying on overstretched IMF

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Papua New Guinea’s government has announced its Budget deficit will balloon to more than K6 billion, the biggest in the nation’s history. Treasurer Ian Ling-Stuckey has announced a well-targeted stimulus, but the International Monetary Fund needs to come to the party.