Using the O’Neill Government’s official statistics it can be shown that the PNG economy most probably shrunk in 2016. This revealed economic contraction is in line with the poor performance of various statistics including government taxes and anecdotal evidence of tough business conditions.
Who actually pays for the PNG LNG royalty and project development levy benefits?
Whilst significant benefits will flow from the PNG LNG project the costs of some of these large cash streams will actually be paid for by the people of Papua New Guinea and not the gas project itself.
Is The Government Doing Enough to End Sorcery-Related Murders of Women?
I strongly condemn the murder of this man and woman in Madang over sorcery-related accusations and retaliatory killings and call upon the Police to swiftly bring those responsible to justice. I also call upon the Prime Minister of PNG and the Government to: Review its 2017 Budget and put more money into health care…
Incorrect 2016 and Correct 2017 National Budget Appropriations
Disagreeing whilst all being incorrect In tabular form below is a summary of statements made by Government, Opposition and bureaucratic officials about the 2017 National Budget and the veracity of those statements. Most troublesome and regrettable is that all these reported statements are incorrect in varying degrees. Exhibit A Legal versus accounting requirements Our Constitution…
Is there a breach of the 30% debt-to-GDP limit set by law?
Minister for Treasury Patrick Pruaitch in his 2017 National Budget speech said that there was an overarching theme of “Responsible Fiscal Consolidation” (page 4) and that the O’Neill-Dion Government was moving decisively to “move the Government Debt to GDP ratio onto a sustainable path” (page 5). It is reported that Prime Minister Peter O’Neill is…
Unlawful spending of K9.9 billion in 2016 by National Government
The Treasurer in his 2017 Budget speech stated that there was a “K1.1 billion reduction in expenditure in 2017” compared to the revised 2016 level. I decided to look at the Appropriation Bills for General Government Expenditure for 2016 and 2017 to confirm this and I was shocked to discover that the actual increase in…
The True 2016 Supplementary Budget Deficit
(This is a re-post of my Facebook post on Tuesday, 01 November 2016). When Papua New Guinea’s 2017 National Budget gets handed down it is likely that the 2016 National Budget will also be revised further from the 2016 Supplementary Budget. The focus will be on the money plan for 2017 but often what gets…