PNG’s GDP grew 8.9% in 2011, thanks in large part to the fact that construction work on the PNG LNG project is in full swing. While growth likely cannot sustain such a high pace, government officials hope that revenues from the LNG facility will catalyse an economic transformation. Analysts, however, are worried about Dutch disease, where resource-driven growth drives inflation and makes local...
Economy
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Chapter | Country Profile. from The Report: Papua New Guinea 2012
This chapter focuses on PNG’s rich natural resources, its ethnic diversity and relations with regional neighbours, with a specific focus on trade between mineral-rich PNG and resource-hungry China.
This chapter includes viewpoints from Prime Minister Peter O’Neill; Julie Bishop, Australia’s Shadow Minister for Foreign Affairs and Deputy Leader of the Opposition; and William Hague, UK Secretary...
Chapter | Country Profile from The Report: Ras Al Khaimah 2012
This chapter provides information about RAK’s geography, economy, population, natural resources and political system. It also includes an overview of the large-scale development programmes that have been put in place in RAK over the past 10 years – projects that have aided the emirate’s reputation as an up-and-coming player in the Middle East and further afield. The industrial sector, which today...
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Economic update | Jordan: Boosting revenue
23 Jul 2012
With Jordan’s economic outlook at best mixed for the time being, the kingdom’s government is exploring tax increases as one way to keep the budget solvent. However, officials are nevertheless keen to ensure these tax hikes do not hinder common daily economic activity for most of the population, especially now that Ramadan has begun.
Articles & Analysis | A new wonder: Petra continues to draw in visitors 200 years after its rediscovery from The Report: Jordan 2012
As a UNESCO World Heritage Site selected as one of the “new seven wonders of the world” based on a poll organised by the Zurich-based New7Wonders Foundation, Petra is widely regarded as the crown jewel of Jordanian tourism. The historical and cultural importance of the site will be showcased in 2012 when it celebrates the 200th anniversary of...