PNG govt expected to unveil economy plan

6:24 am on 26 June 2019

Papua New Guinea's government is expected to unveil plans for navigating the country out of its current economic woes in parliament today.

Sam Basil

Sam Basil Photo: Facebook

Parliament resumed yesterday for the first time with James Marape as prime minister.

PNG's Treasurer Sam Basil has confirmed that a "State of the Economy" update will be presented to parliament today.

It comes as PNG struggles with falling employment and income levels, and chronic government cash flow shortages.

The new prime minister has promised a raft of policies aimed at taking back ownership of the economy from foreign control.

Mr Marape said he wanted PNG to be the "Richest Black Christian Nation on Earth" within ten years.

The opposition said that if quick, corrective measures are taken, the Marape government could engineer a solid economic turnaround.

But it warned that policy uncertainty was threatening the country's prospects.

Get the RNZ app

for ad-free news and current affairs