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PNG Government welcomes Donor Grants and Loans - One Papua New Guinea onepng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from onepng.com Daily Mail and Mail on Sunday newspapers.
World Bank Approves $100 Million Operation to Support Covid-19 Response in PNG medcom.id - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from medcom.id Daily Mail and Mail on Sunday newspapers.
Downtown Port Moresby, Papua New Guinea. Photo: RNZ / Johnny Blades After the loan agreement was signed in Port Moresby, Treasurer, Ian Ling-Stuckey said the national revenue dropped by 20 percent last year due to the pandemic. He said the government had reached out for international support to sustain the devastated economy. The National newspaper reports the loan is in line with the government policy to replace expensive commercial loans with cheaper transitional financing. The funds will reportedly support regional health centres so they can address Covid-19. JICA will disburse about $US281.5 million to aid the national budget with an interest rate of 0.1 percent per annual and four-year grace period. ....
Worry for PNG business leaders Dec 15, 2020 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). ....
Budget invalid - One Papua New Guinea onepng.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from onepng.com Daily Mail and Mail on Sunday newspapers.