Papua New Guinea's opposition leader has warned the government to adjust its 2015 budget revenue forecast in light of the downturn in world commodity prices.
Don Polye says the downturn in oil and mineral prices in particular is set to significantly affect the 2015 forecast.
The Post Courier reports the PNG Chamber of Mines and Petroleum as saying prices for gold and copper have dropped by 40 percent while it expects prices for oil to drop to about 50 percent next year.
The Prime Minister Peter O'Neill says price fluctuation is already factored into the budget and that his government is monitoring the situation.
But Mr Polye says the government must adjust to the lower liquefied natural gas and oil prices projected in the 2015 budget to avoid a crisis.
He says although PNG's LNG Project is still extremely important, many of the benefits of the project's production phase have probably vanished for a decade.
Papua New Guinea Opposition Leader, Don Polye Photo: Supplied
