CATEGORY: Economic Snapshots

PNG’s resource wealth, coupled with its strategic location between the industrial centres of north-east Asia, the rising economies of the Association of South-east Asian Nations and the developed economies of Australasia, means it is poised for long-term growth. The government took decisive actions to prevent community transmission of Covid-19, which constrained business activity in the first half of 2020 but also left the nation well placed to recover without widespread public health consequences. While uncertainties remain as negotiations on extractive projects have yet to be concluded, PNG is expected to benefit from sustained policy efforts to nurture the productive sectors of the economy.