Papua New Guinea Economic Update: PNG Economy Navigating …
WEBMar 4, 2022 · A new World Bank report says Papua New Guinea’s economy is projected to grow by four percent in 2022, driven largely by growth in the extractives sector.
PNG's Economic Outlook Positive for 2024: BPNG 2024 MPS …
WEBApr 15, 2024 · Bank of Papua New Guinea (BPNG) predicts a rebound in real GDP (gross domestic product) growth in 2024, primarily driven by a strong performance in the mineral sector of PNG.
As Papua New Guinea Returns to Economic Growth, World Bank …
WEBMar 29, 2023 · Papua New Guinea’s economy is now rebounding from the pandemic period, with high commodity prices and the removal of COVID-19 restrictions accelerating economic growth to 4.5 percent for 2022, the World Bank’s latest Economic Update for Papua New Guinea has found.
Economy of Papua New Guinea - Wikipedia
WEBThe economy of Papua New Guinea (PNG) is largely underdeveloped with the vast majority of the population living below the poverty line. [20] However, according to the Asian Development Bank its GDP is expected to grow 3.4% in 2022 and 4.6% in 2023. [21]
Economic update 2023: Papua New Guinea’s year of gearing up
WEBMar 28, 2023 · According to that Budget, PNG’s economy is expected to grow by 4.0 per cent in 2023. (The IMF’s and Asian Development Bank’s projections are slightly higher, at 5.1 per cent and 4.9 per cent respectively.)
WEBThe PNG economy benefited from higher foreign exchange (forex) inflows and an easing of forex restrictions that have persisted to varying degrees since 2015 to prop up an overvalued PNG kina. Spending related to the 2022 general election also provided stimulus.
WEBOn the domestic front, PNG’s 2023 non-resource economic growth has been revised up to 4.8 per cent in real terms, 0.2 per cent up from the 2023 Budget forecast. The non-resource sector is the focus of the Government’s policies on lifting living standards as over 90.0 per cent of the population’s livelihoods depend on this part of the economy.
Papua New Guinea Economic Brief (Issue 1, 2023)
WEBJun 15, 2023 · Papua New Guinea witnessed a robust recovery in economic activity throughout 2022, outperforming the global economic outturn... According to estimates by central bank, PNG's real gross...
PNG Economic Database – Data on the PNG economy from the …
WEBThe PNG Economic Database contains economic data for PNG back to independence, with 175 series. In the Series pages you will find graphs based on the data, along with explanations, taken from this joint ANU-UPNG paper. Notes on how the series were constructed are contained in the Data Notes section.
Economic challenges await Papua New Guinea in 2023
WEBThe government projects that PNG’s economy will grow by 4.6% in 2022, and 4.0% in 2023, with a marginal rise in formal sector employment, after doing poorly in 2021 due to COVID-19.