Papua New Guinea: Staff Report for the 2014 Article IV Consultation

December 2, 2014

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Papua New Guinea: Staff Report for the 2014 Article IV Consultation, (USA: International Monetary Fund, 2014) accessed November 21, 2024

Summary

This 2014 Article IV Consultation highlights that Papua New Guinea’s economy is experiencing an important transition, as new liquefied natural gas (LNG) production and exports commence. With LNG production and exports now starting, resource sector growth is projected to surge in 2015, but spillovers to the rest of the economy may be more limited. Inflation has moderated from its peaks during the construction boom and is likely to remain reasonably low given the global outlook for commodity prices. The ongoing economic transition calls for adjustment of macroeconomic policies to safeguard macrofinancial stability.

Subject: Economic and financial statistics, Expenditure, External debt, Foreign exchange, Government finance statistics, Public debt

Keywords: Budget, CR, Current account, Deficit, Deficit target, Global, Government finance statistics, Government of Papua New Guinea, ISCR, LNG project, Pacific Islands, Project construction, Supplementary budget

Publication Details

Pages:

69
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2014/325
Stock No:

1PNGEA2014001
ISBN:

9781498355711
ISSN:

1934-7685

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