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Deputy PM Abel welcomes positive PNG Economy appraisal

Deputy Prime Minister and Treasury Minister Hon. Charles Abel has announced a positive outlook on the performance of the country’s economic situation. The assessment carried out by Standard & Poors., with their B/B rating shows a stable outlook and our fiscal situation is improving. Mr Abel also welcomed the appraisal that transparency is improving and the Government is more accountable in its performance.

As a country, there is an increases in revenue collection and spending is seen to be more responsible making sure that all functional grants are now being paid in accordance with the budget, our debt is within responsible limits, borrowing costs are falling, and the forex backlog has been reduced said Mr. Abel.

The government is creating a new era where we will see growth and stability in our economy.

We continue to grow agriculture and support our local manufacturing, and new resource projects that will boost our economy. We will see more tangible benefits in the coming years with this positive economic performance report we as government are very confident.

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