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Showing posts with the label ECONOMIC

PAPUA NEW GUINEA DEVELOPMENT VIEW

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by TONY CHARLES KEROWA

Papua New Guinean development aspirations are all jumbled up and not in order. The National Government should invest its resources including Money where it will improve the lives of its people.

From my observation and experience, there is more grandstanding on the political level building statuesque and echo more than planning on bringing tangible development to communities and towns by elected representatives from both sides of the house.

The following important key development areas should be prioritized.

1. Improving Road and Bridges :
Opening up and connecting the rural PNG communities through improved Road and Bridges will give an opportunity for our people to work on their land by converting ideal land to economic value by planting cash crops and livestock on a commercial scale. The Department of Works should be reviewed and upgraded to function independently. The Department should operate as independently as possible

2. Improving and empowering Department…

2018 BUDGET: NICE WORDS POOR NUMBERS

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by PAUL FLANAGAN The new Treasurer released his first budget on 28 November. This was an opportunity to demonstrate the second term of the O’Neill government would help turn the corner on PNG’s economic mismanagement. So how did it do? Overall, there are some wonderful sentiments in this first Abel budget. My sense is that he is very genuine in what he is trying to achieve. But he seems to be let down by the realities of PNG politics. Protecting politicians electoral funds, finding money for APEC, trying to regain the upper-hand on the rhetoric of protecting health and education – all within the confines of fiscal responsibility – was simply too much. What has given way in this equation of trying to be responsible while dealing with the political spending pressures has been revenue credibility? Ultimately, he fails in his attempts to explain why we should believe his claim that revenues will suddenly jump by over 20 percent in 2018. This is an increase of over K2.2 billion and an ext…

POLITICAL STABILITY -V- ECONOMIC STABILITY

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bySAM KOIM

Is Political stability the main driver of investor confidence? I have been led, and I believe many are, to believe that political stability is needed to give investor confidence and growing the economy. This misconception of synonymising political stability to economic stability has it’s seldom appearances in public grandstanding and political discourses. This is what I've discovered in debunking this illusion.
Political stability talks about the length of time a government is in power. In terms of investor confidence, it means the investors can count on the current (negotiating) government for durability and certainty of the current position. Yes, in countries and time periods with a high propensity of government collapse (political instability), growth is significantly lower than otherwise but is it really political instability that really caused decline in growth?

Economists may articulate it more clearly than I, but I gather that economic stability …