Category: PNG Budget 2018

“The big picture outcome numbers for the 2017 Budget look too good to be true – and they are. The Final Budget Outcome (FBO) released by the PNG Treasury on 14 March- the 83 page detailed document after a premature speech by the Treasurer last month – raises massive questions about credibility and trust. There […]

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“In an extraordinary outburst on 22 March, PNG’s Treasurer Abel accused me of “blurting out speculations” and talking “nonsense”. With respect to the Treasurer, it would be more productive if we dealt with facts and the issues rather than issuing emotional comments. The facts are as I stated, and these are available directly from the […]

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“PNG is in a deep financial crisis. In such circumstances, it can be difficult to find a way out. Sometimes, going back to basics is the key – back to the fundamentals of good economic management leading to improvements in confidence. Better confidence can stimulate more investment and then higher growth and then more revenue […]

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“Getting PNG’s non-resource growth rate back to at least 5 per cent per annum requires more, better quality and better targeted investment in our country’s infrastructure. Recent years have seen massive real cuts in the government’s support for infrastructure of 51% between 2015 and 2018. This is a cause for PNG’s poor growth prospects from […]

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Increased EITI transparency very welcome – but where did all the money go?

“The Alternate Government welcomes more information being made available about resource revenues. The Extractive Industries Transparency Initiative (EITI) is a very positive step forward. The release of the 2015 and 2016 reports shows the professionalism of the EITI Secretariat and the committee which supports them. Treasurer Abel’s support for the initiative is welcome, following in […]

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Economic growth is strengthening around the world while PNG’s performance has toppled from being among the best performers to rank among the Asia Pacific’s worst performers. The Leader of the Opposition, Hon. Patrick Pruaitch, said today mismanagement of the PNG economy in the past six years has contributed to dismal outcomes with the PNG’s Gross […]

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“The Alternative Government welcomes the increased budget transparency efforts from the Treasury, Charles Abel. This includes the unexpected preliminary release of what actually happened in 2017 as well as paid advertisements for community input to the 2019 Budget Strategy. In Parliament on 13 February 2018, the Treasurer gave a speech on the 2017 Final Budget […]

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