Abel made these remarks in response to the Opposition Leader’s statements calling for an explanation from the Government regarding the cash flow issues.
Responding to Pruaitch’s statements, Abel condemned his comments saying most of what the Government is implementing today was dictated by Pruaitch when he was the then Treasurer.
He said Pruaitch should be proud of the fact that he was part of a deliberate and aggressive strategy in the last five years under the leadership of Prime Minister Peter O’Neill, to deal with our country's infrastructure, education and health problems.
Abel added that the Government had to borrow at the back of the PNG LNG Project mainly from domestic sources, but also from concessional overseas funding, in order to be within the 30 percent debt to GDP guidelines.
He clarified that there is nothing wrong with borrowing to invest in our people.
“However, we have had some bad luck with the onset of the global downturn, collapse of the oil price and extended drought,” stated Abel.
“Furthermore, this Government will not apologise for trying to address the needs of our people and we are responding to changing circumstances and improving on past mistakes.”
“With these reforms and rising oil prices, the new upcoming projects, including several large agriculture projects and leveraging off the APEC meeting, we should feel confident about the future.”