Papua New Guinea's law and justice sector is to receive a 22 percent increase in funding in the 2019 national budget compared to the previous year.
Charles Abel Photo: The National
Deputy Prime Minister and Treasurer Charles Abel delivered the 2019 Budget to parliament yesterday.
The budget provides for expenditure of US$4.74 billion (16.233 billion kina) set against a revenue envelope of just over US$4.16 billion (14.266 Billion kina).
The Treasurer billed the budget as aiming at ensuring a broad-based resilient economy that can withstand volatility brought by economic and environmental disruption.
As well as the law and justice sector, the government's free education and health policies have been prioritised.
The Education Department will get a 6.6 percent increase in funding compared to 2018, which the government hopes will address some of the glaring shortfalls of its fee-free education policy.
The budget deficit for 2019 is estimated at 2.1 percent of GDP or $US545 million (K1.87bn).
According to Mr Abel, PNG's GDP growth rate is expected to reach 4 percent in 2019, and between 2019 and 2023 the economy is expected to grow by an annual compound rate of 5 percent.
Inflation is expected to ease to 5.4 percent in 2019.
He has also announced the 2019 capital investment budget focuses on increasing exports , broadening the tax base, encouraging downstream processing, and promoting investment in the renewable energy sector among other areas.
