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Port Moresby
May 18, 2021

Peter O’Neill confident PNG’s Economy to maintain four per cent growth

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Airways Hotel in Port Moresby became the next port of call for the government caucus that returned from Alotau this afternoon.

85 members of parliament walked in with the Prime Minister at the helm. Inside, the PM drew particular attention to an International Monetary Fund (IMF) report that indicates tough times lie ahead for the global economy. Commodity prices are expected to drop, and Peter O’Neill said the government needed stability to ride out the expected downturn.

“The world economic outlook has been made uncertain by a number of factors including low commodity prices and the decision by Britain to move out of the EU. It is critical that a stable government is maintained,” he said.

The statement this afternoon comes amidst accusations of mismanagement from the opposition and critics of the government. Much of the speech this afternoon, focused on dismissing government critics.

Peter O’Neill said the economy is expected to maintain 4 per cent growth this year.

In previous statements, the PM has focused on the benefits of LNG and the impact political instability could have. He said this afternoon the warnings by the IMF can’t be ignored.

This afternoon a further challenge to the opposition was made, stating that if the government is to go forward it will need policy input from the opposition.

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