MYEFO

Total debt: K40,168 million

The statement revealed that total deficit had risen from K4.6 billion to K7.3 billion and total debt increased to K40, 168 million.

The Treasurer expressed his discomfort with the high deficit levels and the implications that come along with it. In addition to the increased deficit and debt, domestic revenue dropped by K2.5 billion to an outcome of K10, 668 million.

However, the Treasurer described the budget as “The best-managed budget in PNG history.”