The Internal Revenue Commission (IRC) signed agreements on September 20 with two state agencies in the fisheries and the information communication technology sectors to ensure…
Retailers in the capital of Eastern province Goroka are experiencing a drop in sales of as much as 50% for some products compared to previous…
A leaked Finance Department cash flow report showed unpaid bills from 2023 and poor revenue collections in 2024 were reported as key reasons for an…
A report from Kina Bank showed prices for agricultural commodities continue to remain high, a positive for the economy. The bank’s monthly economic report showed…
Westpac Bank has reported a slight decline in foreign exchange transactions to 5.18 billion kina in July from 5.24 billion kina in June. According to…
Papua New Guinea’s Customs and Excise Department has collected over 1.8 billion kina in revenue in the first half of 2024, commissioner David Towe said.…
The high cost of living experienced in the country is mostly driven by imported inflation, the Independent Consumer and Competition Commission (ICCC) said. Commissioner and…
Bad governance and poor government performance are impacting the lives of everyone, because of their significant disruptions to the economy and development prospects, Institute of…
Papua New Guinea and Indonesia have agreed to establish a dialogue and a cooperation mechanism to promote economic development, Deputy Prime Minister John Rosso said.…
Many small-to-medium enterprises (SMEs) owe the central government more than 100 million kina in taxes over the past 10 years, an accounting firm Countrywide Accounting…
Telecommunications costs have gone down by 90% in the country from 2020 to 2024, Department of Information and Communications Technology (DICT) secretary Steven Matainaho said.…
Prime Minister James Marape called for a more concerted effort among leaders of the Pacific in developing the region’s fisheries, especially in the downstream processing…
Papua New Guinea’s economy has been experiencing both challenges and opportunities since 2023, the PNG Stock Exchange (PNGX) said. PNGX chairman David Lawrence said the…
Prime Minister James Marape said at least 34,000 new jobs were created in the last financial year. Without going into detail, Marape attributed the boost…
Much of Papua New Guinea’s economic wellbeing has not improved over the last decade, the World Bank said. Senior World Bank economist Sharad Tandon said…
Prime Minister James Marape said instability in politics and abuses of the rule of law were the “biggest impediments” to economic growth and development. He…
The country’s debt, debt servicing costs and debt to gross domestic product (GDP) soared from 2015 with higher public expenditure levels and weak revenue, economist…
The Internal Revenue Commission (IRC) collected 7.5 billion kina in the first six months of 2024, commissioner general Sam Koim said. Koim revealed to the…
The exchange rate for the kina is adjusting slowly to its true market level, and it will appreciate or depreciate depending on the foreign exchange…
Papua New Guinea’s inflation figures sit at much lower levels compared to its historical levels which was at around 5% to 6%, according to the…
Papua New Guinea’s economic outlook is showing significant improvement, driven by stronger growth, low and stable inflation, and a substantial easing of foreign exchange (forex)…
All future publicly owned special economic zones (SEZs), including industrial centers, will be managed by the Special Economic Zones Authority (SEZA), International Trade and Investment…
The Port Moresby Chamber of Commerce and Industry (POMCCI) has warned of forthcoming increases in the price of foods. POMCCI president Rio Fiocco made the…
It is difficult to attract American companies to invest in Papua New Guinea if they continue to go through the frustrations of establishing themselves in…
The Small and Medium Enterprises Corporation (SMEC) is aiming to capture about 12 billion kina circulating in the informal sector and channel it into the…
