10 Nov 2010

PNG Govt prepares to table 2011 money plan when Parliament sits next Tuesday

12:20 pm on 10 November 2010

Despite a looming vote of no confidence against the Papua New Guinea Prime Minister Sir Michael Somare, the Government is expected to table an estimated three billion US dollar budget for 2011.

The Post Courier newspaper reports this is in line with the Government's predicted increase in revenue from both mineral and commodity exports which have been at an all time high all year round.

Sir Michael Somare has also announced a record 13 billion US dollars for the development budget over five years to 2015, which is indicative of next year's appropriation bill to be tabled early next week.

Sir Michael says under the Medium-Term Development Plan which the government is targeting its development expenditure during this period, will create an additional 315,200 jobs throughout the country.