Prime Minister Peter O’Neill has challenged leaders at the 2016 Leaders Summit to stand up and face the financial challenges the country is going through.
Speaking at the summit today in Port Moresby, O’Neill challenged them (leaders) to be proactive in seeking to boost investment and the economic growth for the country.
“In the 2016 Budget, we have reduced spending to well below 2015 levels, because we were very much aware of the changes that were happening in the global.
“The Government was careful to preserve the core policies which is in areas of education, areas of healthcare, law and order and the critical infrastructure that we need to develop our country.
“The Budget maintains this spending and this was done without increasing any taxes on business, or any taxes to individuals.
“In tough times it is vital we continue, as a Government, to maintain business confidence and encourage consumer spending.
“The challenge is there for our resources sector, as well in other areas such as small to medium enterprise sectors, our manufacturing, agriculture and tourism.
“These are challenges that we need to deal with today,” he said.
O’Neill challenged the leaders to have confidence in their country and go through this situation.
“We are achieving growth that is unheard of anywhere else in the world.
“This is because we are managing the economy, and investing in the right sectors of the economy.”