2 Responses

  1. DIAN WAREP
    DIAN WAREP December 25, 2016 at 8:39 pm

    Why not this report be posted to the two newspapers in PNG; Post Courier and Th National so that the people of PNG are fully informed of the economic situation in the country. Although the vast majority of the PNG population is so frustrated of the lies upon lies put on the two major newspapers in the country by current leadership of the nation, the least you can do is to have it published for everyone to see.
    I sincerely request your good office to have this information published ASAP.
    Thank you very much.

  2. John Domyal
    John Domyal December 22, 2016 at 12:35 pm

    Thanks Nelson and Stephen for this work

    From the onset we can say your analysis make some real sense for PNG micro economy performance while the BPNG, Treasury and PM Office telling us a different story without merit/data over the last 2 years. They indicated if I can recall super phenomenal estimated growth of GDP and GNP in PNG in the last 2 years but without dissecting the difference (as your analysis) between non mining GDP and resource sector inclusive GDP for the country.

    In the last 2 years the government boasted about PNG economy growing faster at unprecedented rate but it was stated without substance/merit. The government based their analysis along with the resource boom but that was short lived as we see today in your analysis. The Government depends on the resource boom but the literal people of this country put their livelihood on the micro economy-non mining sector and that does not make real sense with what the government boasted and the real situation with micro economy.

    And far more worst, recently public servants were not paid on time, business houses lay of non-essential workforce, BPNG rationing out foreign exchange, government introduced supplementary budget lately, development commitments not honoured and all these amount to manifestations of a declining economy that will eventuate into recession. Your analysis above tells us the true story and that will likely continue for the next few years. Not forgetting that the current government accommodated huge external loans for repayment as well.

    As you stated above PNG government should look at reforming the micro economy to at least improve the basic welfare of the people, let along the bigger macro-economic recession. The possibility seems impossible for now.

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