2016 PNG economic situation

Declining PNG revenue a budgetary challenge

This is one of the current challenges facing the country, according to a presentation by Bank of PNG Governor, Loi Bakani.

Presented at the National Development Forum last week, other challenges include:

Polye blames Government for economic shortfalls

He said the Government failed in the austerity measures, and now the country is in recession and may slide further if no reliable policy measures are applied.

“The Prime Minister solely should be blamed for mismanaging the economy into unsustainable debts. He is economically illiterate. The Ministers for Finance and Treasury should also take responsibility, it shows they are not fit to manage the economy and the country is in the wrong hands,” said Polye.