Posted by PNG Today
“There is no excuse for these individuals seeking to mislead investors and the business community,” Prime Minister Peter O’Neill said in a statement.
“The facts are clear and the data is irrefutable.
“The National Economy grew by close to three percent last year, and our debt to GDP in 2016 was at 29.4 percent, well below the limit of 35 percent and will reduce to 28.8 percent this year.
“Our economic fundamentals remain strong and international investors continue to maintain confidence in our economy.”
O’Neill said a degree of common sense is entering the oil market and greater price stability will continue.
“The oil price is more than double where it was this time a year ago, and investment in our resources sector continues to grow.
“In the agricultural sector, we are moving beyond drought, and at the same time agricultural prices are rebounding.
“Our Government will continue to invest in strengthening supply chains for our rural producers so that we can get more goods to market.”