Managing Fiscal Challenges in Contemporary Papua New Guinea
Professor Satish Chand from the University of NSW delivered this presentation on the PNG Economy at the 32nd Australia Papua New Guinea Business Forum.
— By Professor Satish Chand
One of the most popular speakers at the 32nd Australia Papua New Guinea Business Forum in May was Professor Satish Chand from the University of NSW, who delivered an engaging presentation on ‘Managing Fiscal Challenges in Contemporary Papua New Guinea’
You can watch that presentation in full here, just click on the visual above.
The paper was also published in Issue 20 of the National Research Institute Issues Paper, which can be read here.
Professor Chand's key points from the paper are;
- The rising budget deficits and associated increases in public debt confronting the Government of Papua New Guinea make it difficult for that Government to comply with the legislated debt ceiling of 30 percent of GDP within the foreseeable future.
- In these circumstances focusing policy on containing debt to the legislated level could compromise both fiscal sustainability and developmental objectives.
- Rather, I argue that the Government can use public investments funded with concessional loans to raise GDP, improve developmental outcomes, and return public finances to a path of fiscal sustainability.
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