ADB outlines tough challenges to right PNG economy

5:03 pm on 15 July 2016

The Asian Development Bank says Papua New Guinea faces tough challenges in pursuing effective economic management while maintaining basic social services.

The Bank said economic growth in PNG will reach 4.3% in 2016, slowing to 2.4% in 2017.

Inflation will be unchanged at 6.5% for both years due to the higher costs of food and health care.

The ADB said improving infrastructure and enabling private sector participation are central to achieving broad-based, inclusive and sustainable economic growth.

It used the example of greater export competitiveness in the fisheries sector to increase the number of jobs.