issues related to law and order, lack of electricity and land ownership are negatively affecting the business climate in Papua New Guinea (PNG). Maru said…
East Sepik Governor Allan Bird said the national economy had declined by 40 billion kina, representing a 36% decrease in purchasing power, according to real…
Papua New Guinea posted a 3% increase in GDP for 2023, according to the latest report released by the National Statistical Office (NSO) on November…
Administrative Minister Richard Masere on November 7 said more than 85% of the low-income population has yet to have access to formal financial services. Masere…
The Department of Lands and Physical Planning has recorded about 500 million kina in outstanding leases and rentals, Deputy Prime Minister and Lands Minister John…
Think-tank Institute of National Affairs (INA) said the 2025 state budget is expected to be set at around 28 billion kina due to the modest…
Prime Minister James Marape launched the operation of the 10-million-kina Hela Unity Market in Tari town, Hela province on November 1. The new market is…
A major cocoa-producing hub is set to be developed in Kikori, Gulf province under an initiative called the Omati Cocoa project. Landowners in Kikori have…
South Pacific countries’ heavy reliance on remittances and commodity exports leaves economies vulnerable to external shocks like exchange rate fluctuations and rising public debt, Bank…
Prime Minister James Marape signed a framework agreement with Vanuatu Prime Minister Charlot Salwai Tabimasmas to pursue, develop, and implement economic and technical cooperation activities…
The government of Central province has distributed 200,000 kina to the Fresh Produce Development Agency (FPDA) to help local farmers transition from subsistence farming to…
China remains the largest trading partner of Papua New Guinea (PNG) with 13 billion kina worth of annual trade from January to August. Chinese Ambassador…
International Trade and Investment Minister Richard Maru has made a commitment to delivering the Papua New Guinea (PNG)-China Free Trade Agreement (FTA) Joint Feasibility Study…
Papua New Guinea has been stricken with a low inflation period, according to the Bank of Papua New Guinea (BPNG). The situation has steadily increased…
Persistent cash flow issues have hampered public service delivery and development, an official said. Opposition leader Douglas Tomuriesa said the entire operation of West New…
The Asian Development Bank (ADB) and the central government have agreed to expedite the implementation of ADB-related projects in an action plan launched on October…
Growth in the tourism sector is being hampered by expensive flights and accommodation, Tourism, Arts and Culture Minister Belden Namah said. Tourism in Papua New…
The National Fisheries Authority (NFA) has granted 2 million kina to the Eastern Highlands province administration to develop its fisheries infrastructure. NFA managing director Justin…
Small businesses in New Ireland province are struggling with high costs of goods and services that have burdened the economy, according to the Chamber of…
The Bank of Papua New Guinea (PNG) expects domestic economic growth to increase by 3% this year. Bank of PNG Governor Elizabeth Genia said growth…
Papua New Guinea (PNG) has missed out significant income in the last 49 years in the fisheries industry, International Trade and Investment Minister Richard Maru…
Papua New Guinea (PNG) is among Pacific Island countries with a high debt distress risk, a report from the Asian Development Bank (ADB) said. ADB…
Papua New Guinea’s (PNG) economy remains weak despite recent strong gross domestic product (GDP), ANZ Bank International Economist Kishti Sen said. Sen said PNG posted…
The kina will continue to depreciate and inflation will remain high until the middle of next year, according to Justin Smirk, senior economist at Westpac…
The tourism sector contributed over 30 million kina to the economy so far in 2024, marking a significant boost for the tourism sector. That figure…
