TAG: Economy
Papua New Guinea’s economy appears set to see a recovery in 2017 – a forecast reflected in the positive business sentiment of C-suite executives polled in Oxford Business Group’s inaugural OBG Business Barometer: PNG CEO Survey. Despite some weak headline numbers, depreciation of the kina and a shortage of US dollars have slowed imports and led to pockets of local strength, while robust activity in the small and medium-sized enterprise segment is also being observed.
Papua New Guinea’s economy appears to be accelerating once more following a period of slow expansion. The improving performance of the economy, which relies heavily on mineral and agricultural exports, is reflected in the positive business sentiment of C-suite executives polled in Oxford Business Group’s inaugural OBG Business Barometer: PNG CEO Survey.
World-class infrastructure and tourism offerings, significant financial reserves and a reputation as a safe haven have all contributed to a feeling that despite the various headwinds buffeting the UAE, it is well placed to drive on with reforms intended to ensure long-term, sustainable prosperity. Each emirate has therefore been able to take its own path: from the industrial base of Sharjah, the hydrocarbons and heavy industry sectors of Abu Dhabi and the services megalopolis of Dubai, the UAE as a whole is one of the most diversified in the region.