The fall in global oil and gas prices will reduce the Papua New Guinea government’s revenue by at least K1.1 billion in 2016. A new Budget strategy is needed, argue economists Stephen Howe and Paul Flanagan, who suggest a solution may lie in the government selling its Oil Search shares.
Opinion: falling LNG revenues require a new strategy for the Papua New Guinea economy
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15 Apr 2015 by 2 Comments
Papua New Guinea 2015 Budget analysis: dealing with debt and deficits
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3 Dec 2014 by Leave a Comment
Despite much that is good in the 2015 Budget, the Papua New Guinea government’s medium-term fiscal plans are a concern, writes Paul Flanagan, former senior executive in the Australian Treasury, and advisor to the PNG Treasury from 2011 to 2013.
Opinion: Using the central bank to finance Papua New Guinea’s deficit is a ‘slippery slope’
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29 Oct 2014 by 3 Comments
The Papua New Guinea economy is on the edge of a ‘slippery slope’, if the Bank of PNG finances government debt and continues to fix the exchange rate at too high a rate. Former Australian Treasury advisor Paul Flanagan says compounding the problems are rising inflation, falling foreign exchange reserves, and declining private sector credit growth.
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