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By Staff Reporter : PNG Today

PNG Government must act now to avoid economic recession : Opposition

The Opposition has challenged the O'Neill/Dion government to take corrective measures now to save PNG's worsening economy from shrinking.
Leader Don Polye warned the PM Peter O'Neill and his government during the delivery of a 61page statement on the floor of parliament.
"The worst is yet to come! The economy will shrink and life will be tougher, " said Mr. Polye.
Mr. Polye provided the oppositions way forward under the prevailing economic conditions and among others, the government must stop from further commercial borrowings/loans and encourage concessional financing arrangements, cut down on unnecessary costs, and remove state liabilities.
"Stop unproductive spending, and concentrate the limited resources on maintaining key services whilst improving delivery systems." said Mr. Polye.
While discouraging the government from unnecessary spending, encouraged that key services in health, education, existing infrastructure maintenance and key impact programs must be maintained.
He concluded in saying that once gradual improvement is felt, it should lead the parliament to crafting a better but correct strategy to create sustainable economic development.
"That strategy should be focused on developing real-life job skills for both the young and old in PNG," concluded Polye.

Posted by Staff Reporter : PNG Today on 1:25 PM. Filed under , , , . You can follow any responses to this entry through the RSS 2.0. Share this Article

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