The Bank of Papua New Guinea expects a ‘windfall’ from higher international commodity prices to alleviate some of the country’s foreign exchange shortages. However, anecdotal evidence suggests the forex situation is actually getting worse.
Foreign exchange shortages still biting business in Papua New Guinea
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More jobs, better recovery strategy: what Papua New Guinea’s economy needs to thrive
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The most important economic issue facing Papua New Guinea is job generation, according to Douveri Henao, Executive Director Business Council of PNG, and Paul Barker, Executive Director of the Institute of National Affairs.
Impediments: What’s really holding Papua New Guinea business back?
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Foreign exchange has gone from being a big business problem to becoming a major impediment for all businesses in Papua New Guinea. What does the future hold for this and other challenges facing business?
One country, two economies: Papua New Guinea’s economic paradox
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Is Papua New Guinea better understood as two economies rather than one? Two economists examine the complexity of the country’s position.
A change of leadership at PNG Power: what next?
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Acting Managing Director Carolyn Blacklock has resigned from state-owned utility, PNG Power. The announcement comes with the state-owned utility on the cusp of launching a new ‘reform agenda’.
Papua New Guinea’s new cabinet brings optimism to business community
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The new cabinet announced by Prime Minister James Marape has many sound choices, according to Paul Barker, Executive Director of the Papua New Guinea Institute of National Affairs. He tells Business Advantage PNG that there is optimism in the business community about the new government.
2019 Budget aims to broaden economy and increase expenditure and revenue
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The Treasurer, Charles Abel, has handed down the 2019 Budget, revealing a 12 per cent jump in revenues and a 9 per cent jump in expenditures. He announced changes to the income tax threshold, and an increase in capital expenditure.
Australia announces A$3 billion Pacific Infrastructure Bank package
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The Australian Government has announced plans to set up an infrastructure bank as part of a A$3 billion suite of measures aimed at countering China’s influence in the southwest Pacific and lifting its own engagement in the region. Regional analysts say the funds need to go to Micro, Small to Medium Enterprises (MSMEs), as well as SMEs, and for small projects in remote areas.
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