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Worry for PNG business leaders

At a brief sitting of Papua New Guinea’s parliament in November – with all Opposition MPs absent – the James Marape government passed its 2021 Budget, before abruptly adjourning until next April.

Treasurer Ian Ling-Stuckey told the 51 MPs present in parliament that government expenditure was expected to reach K19.61 billion (US$5.58 billion) in 2021.

It was, he said, “a very substantial increase of 9%” on the 2020 fiscal year. “The domestic and international context for our 2021 budget is the most challenging in our nation’s history. Since 1975, there has never been … a global crisis as the one we are now facing today,” he said. The Budget for 2021 also reveals lower government revenue at K12.9 billion (US$3.67 billion), and the largest planned deficit of K6.63 billion (US$1.88 billion).

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