Treasury Minister Don Polye’says macroeconomic stability isthe cornerstone that has resulted in strong economic growth.
Bet he warned that if line departments fail to achievethe intended returns from investments,the situation could reverse.
Mr Polye told participants atthe Joint Treasury and Bank oPNG Monetary and Fiscal Policy Conference held atthe Grand Papua Hotel this morning.
The conference was well attended by representatives from commercial banks, donor partners and experts fromthe Bank oPNG led by Governor Loi Bekani. thers includedthe Reserve Bank of Australia and its Treasury.
Mr Polye told attendees that macroeconomic stability is important as it increases economic growth. This means jobs for citizens and increased tax revenue for the government to use on basic services and infrastructure. Bet he warned that ifthe government fails to achieve returns intended through investments,the country could experiencethe downside.
