PNG's path to economic recovery is correct, says Marape

Prime Minister James Marape says Treasurer Ian Ling-Stuckey will today point that PNG's path to economic recovery is correct.

He says the Government positive trajectories show an increase in Gross Domestic Product for next year and beyond as well as a declining budget deficit trend.

This with critical analysis by all multilateral Budget partners like ADB, IMF and World Bank.

Mr. Marape says key reforms are to borrow low-cost US dollar-denominated borrowings like the Australian $400-million dollar zero per cent interest lending, or the Japanese Government US$280million 0.01 per cent five-year grace period lending, which all came directly into the economy by way of Budget support.

He says the Treasurer will put out a plan to bring the nation to a surplus Budget by 2027 and reduce national debt completely by the mid-2030s.

Source: NBC News

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