The Mid-Year Economic and Fiscal Outlook report to be released soon indicates an improvement in the PNG economy, the county's Treasurer Charles Abel says. He was responding to questions by Moresby North West MP Sir Mekere Morauta on foreign exchange issues. Sir Mekere said a June 2018, survey of 100 senior executives found three major constraints:
He said non-payment of debts owed to business by government was also a major constraint. Sir Mekere asked:
Abel said the Central Bank kept sufficient levels of foreign reserves, now in the order of US$I.7 billion (K5.6bn) to maintain ratio. “I will, in following week, give a comprehensive report on the state of the economy through the Mid-Year Fiscal Economic Outlook report,” he said. “We will give an account of how the economy is tracking and where we are today.” Abel said there were interesting results starting to come through in terms of revenue collection. Comments are closed.
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