Posted By Staff Reporter
Papua New Guinea Prime Minister James Marape told a campaign rally in Port Moresby over the weekend that Papua New Guinea's economy has increased during PANGU's leadership in Government. PM Marape said for the last three years, PANGU and its coalition partners in government have worked hard to see an increase of about K30 billion. You compare that with PNC and Oniel’s 8 years record where economy was grown by K35 billion, we Pangu delivered much better . Facts are facts, numbers don’t lie so if any one of you doubt then look up at websites of IFM, World Bank or Central Bank on these figures. “When we took over the government in 2019, our country was officially in recession, you can confirm this with World Bank, International Monetary Fund, Asian Development Bank, and our own Central Bank. By 2018, our country was already on record as officially in recession at a Negative 0.3 per cent. Basically, this means PNG had run out of money!
“From when we took over the government to now in 2022, the economy has surpassed K101 billion by our calculations,'' Marape told the crowd in Tok Pisin. The Prime Minister continued by quoting reports by World Bank released earlier this year that estimated the PNG economy to do even better by some K8 billion more than what has been estimated internally. ''To the doomsayers and those in the Opposition, World Bank has stated in March this year that PNG’s economy will hit K109 billion by the end of this year. “In three hard years, by God’s Grace and by using an economic tool called Deficit Budget Financing Strategy, we have kept the economy of the country operational. James Marape is not stupid, I know it’s is tough time for the country and in these times, I don’t drink alcohol, I don’t play pokies, I don’t go partying but I work long hours with my Ministers and coalition partners to steady our country’s economy and grow it for all of us. You only have to ask business houses that they are doing much better now then they were under PNC Oniel years. Our budget policies are geared towards growing the economy and spreading the gains to all parts of our country in these tough times. I am the son of the everyday Papua New Guinean – I know what it feels like and how to help everyone right across the country, leaving no one or no place behind; that’s why we removed tax for well over 200,000 small PNGeans who were earning salaries below K17,500.00, that’s why we removed 10% gst tax from essential household items like rice , that’s why we reduced fuel levy, that’s why we paying school fees for all children from elementary to universities, that’s why we putting price and freight charge support to our agriculture produces and central bank says that agriculture production increased by 42% the last three years, that’s why we put K200million every year for PNG SME, that’s why we building roads, ports, jetties, airstrips and power lines with telecommunications all over our country, have you noticed we can drive to Maramuni now , that’s why we opening up special economic zones all over our country in rural forgotten areas. We are a small People’s government, Marape told his supporters . PM Marape made those remarks at the Pangu Team NCD rally at the Sir John Guise Stadium on Sunday. Photos: PM's Media Team Next : PNG On Economic Life-Support Comments are closed.
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