Papua New Guinea: 2005 Article IV Consultation—Staff Report; Public Information Notice on the Executive Board Discussion; and Statement by the Executive Director for Papua New Guinea
Volume/Issue:
Volume 2006
Issue 099
Publication date: March 2006
ISBN: 9781451831702
$20.00
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Topics covered in this book
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Business and Economics , Law , Nature , Exports and Imports , Inflation , Public Finance , Business and Financial , Natural Resources , ISCR , CR , government , PNG government , core government function , minority equity share , price , private sector credit , monetary policy tool , government's strategy , Non-renewable resources , Global
Summary
Papua New Guinea’s 2005 Article IV Consultation reports that the economy continues to perform well as the recovery maintains its momentum and the authorities adhere to disciplined fiscal and monetary policies. The central government budget has been estimated to be once more in surplus in 2005, as mining and petroleum revenue remain strong and overall expenditure is kept in check, resulting in a further reduction in public sector debt. Monetary policy has achieved a favorable combination of relatively low interest rates and inflation.
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