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Macro Poverty Outlook for Papua New Guinea : April 2022 (English)

In Papua New Guinea, the economy rebounded modestly in 2021, supported by agriculture in the context of limited COVID-19 mobility restrictions. Rising fiscal deficit and the economic contraction placed the country at high risk of debt distress, requiring a fiscal consolidation. After two years of contraction, the extractive sector is projected to be the main driver of GDP growth in 2022. With low vaccination rates, limited fiscal space, and general elections in mid-2022, uncertainty remains high. This Macro Poverty Outlook presents GDP, debt and fiscal forecasts and examines the implications for critical economic and social concepts such as growth, poverty reduction and macroeconomic stability.

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World Bank

Macro Poverty Outlook for Papua New Guinea : April 2022 (English). Macro Poverty Outlook (MPO) Washington, D.C. : World Bank Group. http://documents.worldbank.org/curated/en/099921504222231046/IDU0c30fcf2a09caf04f64096960796fe1f97343