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PM O’Neill Maintains Positive Outlook on PNG Economy

Papua New Guinea’s Prime Minister, has appeared on EMTV’s Tok Piksa Program, stating that the state of the PNG economy remains in a manageable position and that critics aligned with former treasury consultants should stop attempting to talk down the economy.

His comments comes days after the release of the Mid Year Economic and Fiscal report that that analysts say indicate a sharp decline in growth and a spike in Public debt.

The PM has also come down hard on the Treasury department for suggesting that budget deficit will reach 9.4 percent further stating that the figures were misleading and that Treasury is yet to produce an independent analysis on the Mid Year Fiscal and Economic report.

Mr. O’Neill is maintaining a positive outlook. While there will be a shortfall, the government is increasing its focus on collecting K2 billion in tax liabilities, customs duties and dividend payments from state owned enterprises.

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