24 Sep 2008

PNG supplementary budget passed

4:04 pm on 24 September 2008

The Papua New Guinea Parliament has unanimously passed the 2008 Supplementary Budget.

The Post Courier reports the Treasurer Patrick Pruaitch saying the Government is committed to improving service delivery to its people and the supplementary budget presented the opportunity to do so.

He says the economy is expected to grow by 7.3 per cent up from the 6.6 per cent forecast in the 2008 budget.

Mr Pruaitch says the revision is due to higher projected growth in the communication and agricultural sectors as well as a broad based increase in economic activity in other non-mining sectors.

He says the mining and quarrying sector is also expected to expand largely due to higher production from Ok Tedi.

Mr Pruaitch says the supplementary budget will be invested in infrastructure, pay off debt and improve service delivery.