20 Apr 2005

PNG needs to rein in birth rate for economic growth, says Chamber of Commerce head

9:06 pm on 20 April 2005

Papua New Guinea needs to rein in its birth rate if it is to sustain economic growth.

That is the view of the president of the PNG Chamber of Commerce, Michael Mayberry, who applauds the work of Treasurer Bart Philomen, in holding spending while the Government's revenue has increased.

Along with booming prices for most primary products and minerals, his efforts have helped PNG record two consecutive years of real growth for the first time in more than ten years.

But Mr Mayberry says it remains fragile and the critical factor is that population growth is outstripping economic growth.

"And in economic terms that means a decline in living standards so what PNG needs to address is the longer term policies and plans so there is going to be a more sustained economic growth."

The president of the PNG Chamber of Commerce, Michael Mayberry