PRUAITCH: LNG REVENUE AT K10-K12bn

PNG Treasurer Patrick Pruitch 

Treasurer Patrick Pruaitch says, PNG's export revenue is set to grow by some 10-12-billion Kina in a full calendar-year, now that export of the Liquefied Natural Gas has started.

Minister Pruaitch says, the revenue flows will boost PNG's balance of trade with the inflow of US-Dollars to contribute to strengthening the Kina.

Pruaitch further says the gas export will provide PNG with a wide-ranging social and economic benefits, with the economy to grow by a record 21-percent, making it one of the fastest growing economies in the world.

The Minister also says, the establishment of a Sovereign Wealth Fund will cushion threats of a Dutch Disease.