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Papua New Guinea: Selected Issues Paper and Statistical Appendix International Monetary Fund

Papua New Guinea: Selected Issues Paper and Statistical Appendix

International Monetary Fund

Published March 21st 2007
ISBN : 9786613741998
ebook
51 pages
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 About the Book 

1. Macroeconomic performance has improved, but Papua New Guinea remains a poor country highly exposed to commodity price fluctuations. Buoyed by commodity export revenues, GDP growth performance has improved notably in the last several years. UntilMore1. Macroeconomic performance has improved, but Papua New Guinea remains a poor country highly exposed to commodity price fluctuations. Buoyed by commodity export revenues, GDP growth performance has improved notably in the last several years. Until recently, inflation has remained low, thanks to favorable terms-of-trade and improved macroeconomic management. However, GDP per capita remains low and improvements in living standards have lagged other low-income countries in the region. An unattractive investment environment, due primarily to weak infrastructure, problems with governance, and high crime, constrains more rapid growth of the nonmineral sector. The economy remains highly vulnerable to swings in commodity prices owing to their importance in both export and public revenue.