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.
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.
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.
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.
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.
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.
Economic analysts have welcomed the 2014 Budget, commending the government for its emphasis on implementing projects it announced last year.
The Treasurer is about to present the 2014 Budget to Parliament, after a challenging year for Papua New Guinea and its government. Paul Barker looks at what next year’s Budget should contain.
Papua New Guinea enters 2013 with a new government in place, a major gas project nearing completion and some ambitious development goals, reports Business Advantage PNG’s Andrew Wilkins.
The Governor of the Bank of Papua New Guinea, Loi M Bakani, has urged the Papua New Guinea Government to fund its projected large deficits over the next few years from the high levels of liquidity in the domestic banking system.