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January 21, 2021

Ministers Say Country’s Economy Is Growing and Will Prosper

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The Finance and Treasury Ministersin a conference today called on business houses, investors andthe people of Papua New Guineato rest assure thatthe country’s overall economy is growing and will prosper in years to come.


Don Polye and James Marape made a strong call onthe opposition to assist growthe economy and investor confidence rther than promoting speculations.

The conference was held in response to several claims raised by members ofthe opposition.


They includethe depreciation ofthe kina value againstthe US and Australian dollars onthe exchange market,the inflation rate, GDP andthe 50 million kina budget deficit this year.


Governor for the Bank of Papua New GuineaLoi Bekani presented a brief onthe value ofthe kina.


Mr. Bekani explained that this was due tothe floating demands and supply of imports and exports onthe international trade market and foreign exchange.


Overall, he said all is under control now.


Treasury Minister Don Polye talked aboutthe general overview ofthe country’s economy.


Mr. Polye’said he,the finance minister,the governor,the planning minister andthe departmental heads are working in line withthe financial policies in place and managingthe economy.


He attributedthe success tothe 5.5 percent growth onthe employment rate,the 90 percent completion ofthe LNG project amongst ther social and infrastructural achievements.


The ministers called onthe opposition and commentators to present facts when making allegations concerns national issues andthe economy.


They said it is must all stakeholders contribute to growthe country.


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