Commodity producing nations faced recession and serious hardship but Papua New Guinea rode the storm quite well.
“We did not increase taxes and we did not cut core services,” Prime Minister Peter O’Neill said during last week’s 2017 Prime Minister’s Back-to-Business Breakfast.
“Our Government was proactive in cutting waste in the public service, and we put some non-priority infrastructure projects on hold.
“These pressures all occurred at a time when our country was facing one of the worst drought in recent memory.”
O’Neill said this affected food supplies in communities vulnerable to extreme weather. The situation was further worsened by climate change.
“Drought not only had a negative impact on agricultural production, but undermined our exports.”
However, the PM says we can now see light at the end of the tunnel.
“Commodity prices are rising, and the drought has passed.
“Agricultural production is rebounding, and mineral and petroleum sector projects are increasing production.
“But this does not mean the Government is taking it easy – commodity prices remain fickle, and climate change means another drought could be right around the corner.
“We are ready for the next challenges that might confront us, and we will get on with delivering the core policies of our Government.”
(Loop file pic)