14 Sep 2004

PNG's treasurer aims for budget focused on growth

5:11 pm on 14 September 2004

Papua New Guinea's Treasurer, Bart Philemon, says he intends to focus on growing the economy in the 2005 Budget.

He says he wants to ensure the country's economic growth rate outstrips the rate the population is increasing.

At current rates the population is growing at 9.7 percent a year.

Mr Philemon told the Post Courier newspaper that he hopes it will not be necessary to seek concessional funding or commercial borrowings for the budget.

He says he will meet with economic ministers in charge of agriculture, forestry, fisheries, tourism, mining and petroleum later this month to find out what they have put in place to help the economy grow.