This predominantly encompasses the modelling aspect of development planning and in liaison with the National Research Institute, which would shed light on the main features on the reality of the economy and planning.
The model is narrowed down specifically to economic modelling – a mathematical representation of the linkages between selected elements of the economy.
Secretary for National Planning and Monitoring, Hakaua Harry, in a memorandum of understanding signing this morning with the National Research Institute, said the inking of the deal will give birth to a rewarding partnership effort towards development planning in PNG.
In 2009, the Papua New Guinea General Equilibrium Model (PNGGEM) was used to forecast government revenue for the period of 2011 to 2015, supposedly used also to formulate the Medium Term Development Plan 2011-2015 and the PNG Development Strategic Plan 2010-2030.
Harry said unfortunately, due to capacity constraints, after the work on MTDP 1 and DSP in 2009, modelling did not continue in the DoNPM.
She adds that NRI has the capacity to assist the Department of National Planning and Monitoring with this development planning aspect that has been lacking for a while.
“The signing of this MoU will address capacity constraints in economic modelling to assist evidence based policy formulation and professional collaboration between both agencies.”
Director for NRI, Dr Osborne Sanida, said the context goes to show how government institutions can work together for a common good and outcome of the country.
“NRI is statutory body set up by an Act of parliament to conduct applied research into social and economic issues affecting the PNG economy.
“The MoU is in particular to assist the department to come with a sound plan for economic development so that it can be implemented effectively with a proper database to move towards achieving its goals.”