PNG Budget

Treasurer says good news for budget repair

“The hard work of the Marape-Rosso Government continues to see our budget books look healthier and we have our 13 year budget repair plan which gives our country a path to a fixed budget and no more debt.

“Once again the government has delivered a healthier budget bottom line, we have a lower budget deficit then expected when this house passed the 2022 budget and the 2022 supplementary budget. This means; less build of debt, increase confidence in our economy and more funds available for the private sector,” stated Stuckey.  

EU to fund directly into budget


EU Ambassador to PNG, Ioannis Giogkarakis-Argyropoulos, said with more positive reforms to ensure efficiency, transparency and accountability in public finance management, the EU will relinquish supervision of development funds and pour it directly into the PNG Budget.

He said this during the announcement of the Public Finance Management Act 2016, which replaces the PFMA 1995.

2016 National Budget passed

Debate in Parliament started at about 3pm and went on for more than 5 hours.

The government used its numerical strength to defeat a motion by Opposition Leader Don Polye calling for a one week adjournment.

They voted 84 against and 12 for.

But the government’s intention was to have the budget handed down and passed the same day.

The 2016 budget is set at K14.2 billion.

That is a deficit of K2 billion.

The supplementary budget was also passed.