The 2019 Budget reflects an improving economic outlook says Zanie Theron, KPMG’s PNG Country Managing Partner. She points to increased private investor confidence and positive signs with foreign exchange.
2019 Budget aims to broaden economy and increase expenditure and revenue
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14 Nov 2018 by Leave a Comment
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.
In brief: Government plans five new highways and other business stories
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7 Nov 2018 by Leave a Comment
Government plans to build and open five new highways, Milbank launches women-only credit card, and PNG Power to upgrade two projects in Eastern Highlands and East New Britain. Your weekly digest of the latest business news.
Papua New Guinea’s Supplementary Budget makes tough choices
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11 Oct 2017 by Leave a Comment
The National Government has issued a Supplementary Budget to deal with the fiscal and economic issues facing Papua New Guinea. Economic commentators tell Business Advantage PNG that it is a tough budget, but flag that more measures may be needed.
Opinion: Increased MP funding in Budget squeezing out spending on core services says ANU’s Stephen Howes
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22 Nov 2016 by Leave a Comment
The Papua New Guinea government, faced with falling revenue, cut back sharply on core services in the 2017 Budget says Stephen Howes, Director of the Development Policy Centre at the Australian National University. But MP funding is at five times its 2012 level.
What’s behind Papua New Guinea’s supplementary budget?
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31 Aug 2016 by 1 Comment
The Papua New Guinea government has released its Supplementary Budget to adjust to ‘tough’ economic conditions. It assumes lower economic growth, a weaker exchange rate and higher inflation.
Papua New Guinea’s mid-year economic report paints gloomy picture, with some positives
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2 Aug 2016 by Leave a Comment
The Papua New Guinea government has released its Mid-Year Economic and Fiscal Outlook Report. GDP growth is expected to be weak, tax revenue is lower than expected and public debt is rising above the legislated limit.
Papua New Guinea passes budgets for tougher times
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4 Nov 2015 by Leave a Comment
Yesterday, Papua New Guinea’s Treasurer Patrick Pruaitch presented both the 2016 National Budget and a Supplementary Budget for 2015. Both budgets – highly anticipated given the PNG Government’s need to address lower revenues – make cuts to projected expenditure and find additional revenue resources in order to keep the budget deficit under control.
Papua New Guinea 2015 Budget analysis: dealing with debt and deficits
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3 Dec 2014 by Leave a Comment
Despite much that is good in the 2015 Budget, the Papua New Guinea government’s medium-term fiscal plans are a concern, writes Paul Flanagan, former senior executive in the Australian Treasury, and advisor to the PNG Treasury from 2011 to 2013.
Economic update: maintaining momentum in Papua New Guinea
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22 Apr 2014 by 1 Comment
Papua New Guinea’s economy finds itself in a hiatus, ahead of what will be a watershed moment its economic history—delivery of its first gas exports. In his annual appraisal of business conditions in the Pacific nation, Andrew Wilkins talks exclusively to some of PNG’s top executives.
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