2018 budget stable, consistent: Private sector

Members of the business community have called the 2018 National Budget stable and consistent.

During a panel discussion of the Deloitte 2018 Budget Breakfast Debate, it was stated that despite the challenges, there was stability and consistency.

Newcrest PNG Limited country manager, Peter Aitsi, said the stability was due to the non-introduction of new taxes.

“There are no new taxes in there which is great and it’s keeping to their promise that the Government made last year in terms of giving back some confidence to the economy and investors.”

ANZ PNG CEO, Mark Baker, said consistency was shown by the Government to deal with the current economic situation.

He said while there are challenges, the Budget gives a realistic view on what should be done to address many of the current problems.

“The thing that jumps out is the consistency that you have with the new government.

“We’ve had the supplementary budget we’ve had the 100 Day Plan, and now the Government Budget, and there’s no surprise in there. In the business sector, certainly from the bank’s point of view, you’re seeing a level of consistency.

“There seems to me an openness to recognise the issues we’ve got in front of us and foreign exchange is being spoken about more openly than I’ve seen in recent months and that’s a positive,” he said.

(Newcrest PNG Limited country manager, Peter Aitsi)

Cedric Patjole