Weaker commodity prices and lower government revenues have prompted Papua New Guinea’s current administration to revise its growth forecast and release a supplementary budget in late August.
Papua New Guinea
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Economic update | Papua New Guinea banks on inclusion
11 Aug 2016
Access to improved communications technology and greater awareness of banking services is helping to boost financial inclusion in Papua New Guinea while providing opportunities to service providers looking to tap into a broader market.
Increased investments in telecommunications infrastructure are set to improve Papua New Guinea’s internet capacity, extending coverage across the country and paving the way to roll out 4G LTE services.
The mining sector in Papua New Guinea is showing signs of an uptick after operations resumed at one of the country’s largest mines, with new and ongoing projects set to inject much-needed foreign exchange and employment into the economy.
A new wave of investments in Papua New Guinea’s energy sector could see some $19bn of projects launched in the coming years, boosting the country’s liquefied natural gas (LNG) output and providing employment to thousands.
The government of Papua New Guinea has rolled out a new plan to support small and medium-sized enterprises (SMEs) by improving access to finance and training.