19 Nov 2009

Record development budget in PNG

11:40 am on 19 November 2009

The Papua New Guinea Government has compiled a record 1 billion US development budget to pursue its ambitious development priorities next year.

The National newspaper reports the Finance and Treasury Minister, Patrick Pruaitch, says that the reason for the concerted increase in development spending was to improve crucial infrastructure in the hope that it would enhance future economic growth potential.

The major piece of the development pie of 85 million US dollars was injected to improve national and rural roads infrastructure.

Also under major expenditure programmes Air Niugini will get 11 million US dollars to procure new aircraft.