Posts

Showing posts with the label NAGORA BOGAN

PNG’S 100 DAY PLAN – A SLOW KICKSTART WITH SOME POSITIVES

Image
by PAUL FLANAGAN PNG’s new Treasurer and DPM, Charles Abel, has released the promised 100 Day Economic Stimulus Plan (see  here ). Overall, there are some positives in the plan. But politics is already circumscribing necessary actions to get PNG back onto the right economic path. Starting with the positives, even having a 25 point plan is a useful statement that the new government recognises PNG’s economic challenges. The five elements of the plan are appropriate. There is a focus on raising revenues as well as fiscal discipline. Population policy is given priority.  The plan announces the suspension and review of some scary micro-economic policies in areas such as land, agriculture, bio-security and mining. Some politically brave action is foreshadowed to at least temporarily reduce politicians’ discretionary electorate spending (PSIPs and DSIPs). There seems a commitment to on-going sensible strategic budgetary and planning processes. There is no mention of the absurd “gold bu