2018 budget

Govt warned of tragic health consequences

Shadow Minister for Health and HIV/AIDS, Joseph Yopyyopy, said this was in view of the fact that PNG’s health system is already fragile and under-resourced.

He said the funding reductions in PNG’s health sector since 2015 would bring even the most robust health system to its knees.

The warning comes as the Government prepares to table PNG’s 2018 money plan tomorrow (Nov 28) in Parliament.

“PNG’s health expenditure has been radically reduced during the past two years, compounding people’s miseries nationwide in a health system that is already desperately struggling.

Opposition ready to debate 2018 Budget

Shadow Minister for Treasury and Finance, Ian Ling-Stuckey, in a statement said last year the O'Neill government, lacking the usual transparency, did not allow proper debate on the 2017 budget.

"We stand ready to judge the success of the 2018 budget and urge government to give the Opposition opportunity to measure its merits.

"Government should not trivialise the most important of this annual policy statement by rushing it through because a budget translates policies into concrete actions by providing resources.

‘State Equity Fund’ in 2018 Budget

National Planning Minister, Richard Maru, said the funding will be used to attract investors to partner the Government in key projects.

The initiative is to see more Public-Private Partnership (PPP) involvement in economic growth.

Minister Maru announced during the Inaugural National Agriculture Summit yesterday that the ‘State Equity Fund’ is one of the strategies undertaken by the Government to partner private investors.

2018 Budget to focus on Economic Growth

Minister Maru said this on Wednesday in Day Three of the Inaugural National Agriculture Summit in Port Moresby.

The Minister said the 2018 Budget will see funding for economic growth double, with a major focus on Agriculture.

Speaking to industry stakeholders, Maru said under his tenure as Minister for Planning, Agriculture will take the front seat in development.

He said the he plans for the sector to overshadow the extractive industry which has for too long been given prominence, but has not translated into positive economic growth.

2018 Budget must focus on people: Ling-Stuckey

Ling-Stucky who is a  member of the National Alliance Party said that the National Alliance Party during 2003-2012, had a proud record of high rates of growth in those parts of the economy that affect most people in PNG.

He said with limited statistics, the best measure of inclusive income growth is real non-resource GDP per capita growth rates.

“This is a true measure of economic incomes and welfare in PNG. This measure excludes the effects of the resource sector which benefits few directly, removes the effect of inflation, and allows for population growth.

2018 budget to focus on economic goals

“The budget will be framed to spare goals in the economy and it will not be overly dependent on the resource sector but more focused on agriculture and other sectors,” said Prime Minister O’Neill.

He added a tough stance will be taken on some industries, like forestry and fisheries, to address some of the misuse and abuses that have been going on.

“That is a lot of work that is being done and going before cabinet to try and protect our interest, our people’s interest in these sectors.”

He said they are trying to correct past abuses.