Papua New Guinea Treasurer Announces Decline in Donor Funding for 2025
Papua New Guinea's Treasurer Ian Ling-Stuckey has revealed a significant decline in donor funding for the 2025 budget. According to the Treasurer, donor contributions are expected to decrease by approximately K700 million, a notable reduction compared to previous years.
The Treasurer explained that while the numbers may seem alarming, there is a valid justification for the drop. He clarified that donor funding levels had been higher in recent years due to the COVID-19 pandemic and the emergency support extended by international partners during that period.
“There is a decrease of K705 million, which corresponds to the conclusion of COVID-19-related funding provided by our partners. We are grateful for the critical assistance we received during the pandemic,” Mr. Ling-Stuckey stated.
The Treasurer emphasized the importance of international support during challenging times and extended his appreciation to development partners for their assistance throughout the pandemic. He acknowledged their contributions as instrumental in helping the nation navigate the global health crisis.
Despite the decline, Papua New Guinea will still receive considerable assistance from development partners. Minister Ling-Stuckey announced that the total funding from these partners for the 2025 budget is projected to be K2.7 billion.
He reassured the public that the government is committed to effectively utilizing available resources while acknowledging the necessity of adjusting to reduced donor funding levels in the coming years.
The announcement underscores a shift in Papua New Guinea's financial landscape as the country transitions out of pandemic-related economic support.
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