For the time being, PNG’s economy appears to be managing its way through the COVID-19 crisis. According the Treasurer Ian Ling-Stuckey in the Final Budget Outcome for 2020, released in the past week, the ‘economic impact of the health crisis remained within our initial estimates.’
What’s on the agenda for Papua New Guinea business in 2021?
Welcome,
18 Jan 2021 by 4 Comments
With the Marape government surviving a challenge late last year and vaccines for the COVID-19 virus starting to emerge, Business Advantage PNG considers what business in Papua New Guinea can expect from the year ahead.
Papua New Guinea’s PM signals ‘honest and transparent’ economic repair
Welcome,
13 Jan 2021 by 10 Comments
Papua New Guinea’s Prime Minister, James Marape, has outlined his government’s goals for 2021, including building up infrastructure, undertaking ‘Budget repair’ and exploring ways to invest in domestic businesses.
The sound of silence: minimal changes to taxes in Papua New Guinea’s 2021 Budget [analysis]
Welcome,
2 Dec 2020 by Leave a Comment
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’
Welcome,
23 Nov 2020 by 1 Comment
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
Welcome,
18 Nov 2020 by 2 Comments
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.
Papua New Guinea introduces supplementary budget to address financial challenges
Welcome,
14 Sep 2020 by Leave a Comment
With Papua New Guinea’s Mid-year Economic and Fiscal Outlook predicting government debt will rise to 55 per cent of GDP, its government has announced a supplementary budget to address numerous fiscal challenges. There are also moves for the central bank to print money to fund budget shortfalls.
Analysis: Papua New Guinea’s salary bill problem
Welcome,
14 Sep 2020 by 3 Comments
Director of the Development Policy Centre, Stephen Howes, analyses the extraordinary growth of PNG’s government salary bill and explains why it’s a concern.
Papua New Guinea’s budget challenges outlined in two new reports
Welcome,
19 Aug 2020 by Leave a Comment
Two new reports have outlined the revenue challenges being faced by Papua New Guinea’s government in the face of the COVID-19 pandemic.
Thinking about PNG’s COVID-19 economic response [opinion]
Welcome,
4 May 2020 by 1 Comment
Three academics, Dek Joe Sum, Maholopa Laveil and Stephen Howes, analyse Papua New Guinea’s monetary easing measures in response to COVID-19.
USD 0.2850
AUD 0.3839
GBP 0.2084
EUR 0.2456
NZD 0.4040
JPY 32.53
SGD 0.3844
Recent readers’ comments