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Opposition concerns PNG heading into a fail economic state

The Opposition is concern the debt to GDP ratio will continue to increase if the Government is not cautious about how it borrows and uses the borrowed money.

With the current debt to GDP rate at 51% and the fear of the economy collapsing is looming.

“Borrowed money should not be consumed but invested wisely.”

That is the view of PNC Partly Leader and the Opposition’s candidate for the top seat of the country, Peter O’Neill.

He says the current Government has been borrowing too much and not using it wisely.

The current debt to GDP ratio of 51% revealed by Treasurer Ian Lingstucky is frightening and leaning towards a collapsed economy.

O’Neill said when he took over from the Somare Government he had doubled the country’s revenue and despite tough economic climates, the PNG economy flourished.

But the Opposition claim that is not the case today.

O’Neill’s views are also supported by Opposition Leader Belden Namah.

Both have questioned the Pogera deal, other mines in the country, COVID-19 funds and management of the pandemic, and the education sector.

They say if Marape continues to lead the country this way, the country will become a fail state.

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