Papua New Guinea: 2015 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Papua New Guinea

Publication Date: November 18, 2015
Electronic Access: Free Full text (PDF file size is 1,183KB).
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Summary: Despite strong growth relating to a large liquefied natural gas (LNG) project, Papua New Guinea (PNG) faces strong headwinds from severe revenue shortfalls due to lower global commodity prices and temporary suspension of a large mining operation. Given the large drop in government revenues, decisive consolidation will be needed to keep the government debt-to-GDP ratio on a downward trajectory over the medium term. To this end, expenditure growth should slow and budget resources should focus on high-impact spending, while safeguarding social outlays.
Series: Country Report No. 15/318
Subject(s): Article IV consultation reports | Economic growth | Commodity price fluctuations | Fiscal policy | Government expenditures | Fiscal consolidation | Fiscal reforms | Monetary policy | Excess liquidity | Economic indicators | Balance of payments statistics | Debt sustainability analysis | Staff Reports | Press releases | Papua New Guinea

Publication Date: November 18, 2015
ISBN/ISSN: 9781513584683/1934-7685 Format: Paper
Stock No: 1PNGEA2015002 Pages: 69
US$18.00 (Academic Rate:
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