Government to outline 100 days plan
Port Moresby:
The Papua New Guinea Government will outline its 100 day plan for economic recovery and how to sustain its programmes this week.
Acting treasurer and deputy Prime Minister Charles Abel, last Friday, directed the set up of a small team to compile a list of targets and deliverables for the next 100 days to increase economic activity and install efficient public expenditure.
Flanked by Treasury Secretary Dairi Vele and Gulf Governor Chris Haiveta, Mr Abel said the plan would be worked into a broader comprehensive response to the Mid-year Economic and Fiscal Outlook (MYEFO) in a supplementary budget.
Having taken briefs from the department, Mr Abel said that a key priority of the government was to return the confidence of the people and business community in the economy.
“As we emerge from the National Election and a period of slow global growth we have directed officers to focus on driving our economic growth,” he said.
And leading up to the upcoming Parliamentary session, Mr Abel said the Government will be considering a Supplementary Budget to respond to some of the issues that have arisen “to ensure that we continue to meet some of the targets as projected in our budget and we continue to manage this economy responsibly and live within our means.”
“There are a number of significant things that we can undertake to continue to grow our revenue stream and continue to manage our economy responsibly,” Mr Abel said.
“The first priority of the Alotau Accord II is economic growth through sound revenue and debt management, economic participation and empowerment, ownership rights and equitable benefit sharing. The government was set to ensure we develop and progress as a people and country.
“The recently released MYEFO had been noted from business and social commentators as-an honest assessment of the Governments fiscal and financial operations.”
He said it was necessary to respond appropriately to the report.
The Deputy Prime Minister said there was mutual agreement in consultations with departments and the private sector to sharpen the focus on increasing revenue and managing expenses.