PNG Loop 5@5

Govt may not achieve LNG targets: Bakani warns

In November 2015, the National Parliament passed the 2016 Budget with a planned total expenditure of K14.8 billion, which is 2.4 percent lower than the 2015 Budget estimate, and revenue of K12.7 billion.

The Budget deficit therefore is K2.1 billion or 3.3 percent of GDP.

Bakani, in his Quarterly Economic Bulletin said the K12.7 billion revenue is expected to be largely driven by the mineral and petroleum tax.

He said since the release of the 2016 Budget, international prices for mineral and petroleum has dropped further and are forecast to be even lower.

Workshop to deal with reporting of financial results

The three day training will look at providing a comprehensive understanding of the Smart Campaign to participants to conduct client protection self assessment for their microfinance institutions and identify vulnerabilities and strengths and to prioritize areas to strengthen client protection.

The training will also partially focus on understanding rules and regulations applicable to Papua New Guinea microfinance markets, as applied by regulators in PNG.