PNG PM Marape Says Nomane’s Fiscal Claims Ignore Global Economic Reality
PNG Prime Minister James Marape has countered criticism from Chuave MP James Nomane, arguing that the claims attacking the Government’s financial stewardship are misleading and politically motivated. Marape said the remarks disregard the severe global pressures that have shaped fiscal policy since 2019.
He said economies across the world — including leading nations in the region and beyond — expanded borrowing during COVID-19 and subsequent international disruptions to maintain essential public services. PNG’s response, he said, mirrored the global pattern.
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| PNG PM Marape Says Nomane’s Fiscal Claims Ignore Global Economic Reality |
Marape noted that throughout these challenges, the Government ensured services continued, from schools and hospitals to policing and SME support, while maintaining payroll for all public servants.
He said the country’s debt position must be viewed alongside the rapid rise in economic output, with PNG’s GDP growing by K50 billion under his leadership. He added that the target set in 2019 to push the economy beyond K200 billion is progressing with strong momentum.
The Prime Minister said the budget deficit, which hit its highest level during the pandemic, has declined consistently and will continue narrowing in the coming years.
Marape said ongoing debt restructuring, concessional financing arrangements and improved revenue collection are strengthening the financial system, reaffirming that PNG is “firmly on track for a balanced budget by 2027.”
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