PNG treasurer plans supplementary budget

1:03 pm on 6 December 2016

Papua New Guinea's government is expected to introduce a supplementary budget when parliament resumes in January.

Papua New Guinea Kina.

Papua New Guinea Kina. Photo: RNZI

The Post Courier reported this would be to review some tax measures introduced in the 2017 budget, such as a sliding scale for log exports and additional levies of mining and petroleum ventures.

The treasury minister, Patrick Pruaitch, said the government wanted to retain the confidence of foreign investors and fiscal stability.

The country's economy had been struggling in recent years as plummeting commodity prices hit government coffers hard.

But Mr Pruaitch said the medium-term outlook was more positive as the global economy improved and commodity prices slowly increased.

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