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Papua New Guinea Economic Update : Facing Economic Headwinds (Inglês)

Papua New Guinea’s economy continues to face economic headwinds resulting from global and domestic economic uncertainties. PNG’s real GDP, despite rebounding to 5.6 percent in 2019, is expected to fall and hover at around 3 percent on average between 2020¬ and 2022, posing many negative risks, including exposure to unexpected external shocks or potential domestic political and economic turbulence. Projected GDP growth rates are lower than our previous forecasts, mainly due to delays in finalizing agreements and launching implementation of large new resource projects. The other major factor that impacted the downgrade in the growth outlook include heightened global uncertainty due to (i) a partial nature of the recent trade deal between the United States and China and (ii) a fresh emergence of new risks to Chinese and global growth, including a novel coronavirus. The report also provides an in-depth examination of the relationship between inclusiveness of growth and human capital (the health, knowledge, skills and resilience people accumulate). The report evaluates the implications of recent trends and policy reforms alongside the government’s stated development objectives, emphasizing that increased investment in human capital will be a critical prerequisite to achieving quality and inclusive growth in PNG.

Detalhes

  • Autor

    Sarsenov,Ilyas, Somanathan,Aparnaa, Grinyer,John Joseph Scott, Hasanov,Rashad, Kemp,Jo, Arur,Aneesa, Ragatz,Andrew B., Dornan,Matthew Selwyn, Silva Parsons,Kenia Hatsue, Yi,Soonhwa, Swaminathan,Harini, Thiebaud,Alessia, Lai,Kenglin

  • Data do documento

    2020/01/31

  • TIpo de documento

    Documento de Trabalho

  • No. do relatório

    145756

  • Nº do volume

    1

  • Total Volume(s)

    1

  • País

    Papua Nova Guiné,

  • Região

    Leste Asiático e Pacífico,

  • Data de divulgação

    2020/02/05

  • Disclosure Status

    Disclosed

  • Nome do documento

    Papua New Guinea Economic Update : Facing Economic Headwinds

  • Palavras-chave

    human capital; introduction of tuition fee; papua new guineans; trade and investment; transition from school to work; reproductive health and family planning; Infant and Young Child Feeding; global partnership for education; Public and Publicly Guaranteed; female labor force participation; Demographic and Health Survey; middle-income economy; vulnerability to natural disasters; labor market information system; gender gap in access; Fiscal and Debt Sustainability; small and medium enterprise; quality of health services; extractive sector; Health Nutrition and Population; national health information system; real exchange rate change; access to health service; value of capital stock; life expectancy at birth; female labor market participation; labor market due; real effective exchange rate; Primary and Secondary Education; quality of education service; low rate of inflation; employment of foreign workers; information and communication sector; access to foreign exchange; Below the Poverty Line; Active Labor Market Policies; active labor market policy; information and communication technology; health management information systems; source of drinking water; pace of population growth; improved sanitation facilities; average number of child; formal sector employment; literacy and numeracy; terms of trade; Public Spending; Foreign Exchange Reserve; foreign exchange inflow; put pressure; fiscal consolidation; real gdp; Early childhood education; skill development; domestic interest rate; human capital outcomes; Health Service Delivery; current account surplus; children under age; Exchange Rates; human capital investment; major trading partners; domestic labor market; foreign exchange shortage; consumer price inflation; gross capital formation; investments in education; labor market need; health and nutrition; Access to Education; human capital stock; public debt; years of schooling; total fertility rate; human capital development; commodity price shock; health facility survey; dollar exchange rate; balance of payment; liquefied natural gas; human capital accumulation; per capita income; natural resource abundance; growth and development; foreign direct investment; rate of crawl; rates of unemployment; terms of policy; skill gap; global growth; confirmed case; government borrowing rate; fiscal adjustment process; health system performance; debt service costs; accessing health care; low financial literacy; sovereign wealth fund; gross enrolment rate; medium-term development; combination of factor; impact on health; human resource planning; quality of learning; foreign exchange outflows; impact on poverty; agriculture and forestry; effective service provision; persistent fiscal deficits; increase tax revenue; rapid economic development; increase in enrolment; help child; gross national income; short-term interest rate; status of woman; SME taxation regime; infant mortality rate; import of goods; exchange rate overvaluation; total public expenditure; pace of decline; government health expenditure; maternal health service; student loan program; decline in fertility; public sector resource; payment of dividend; economic growth performance; upper secondary education; state-owned enterprise; global economic growth; quality of teacher; urban youth employment; flow of fund; retail trade employment; reduced pressure; supply of labor; lower secondary education; burden of disease; higher education institution; Science and Technology; exchange rate adjustment; reliance on foreign; income tax payment; burden of morbidity; high dropout rate; number of males; public health expenditure; maternal mortality ratio; international oil price; legal reserve requirement; high transmission areas; disaster risk management; education and health; effective service delivery; net government debt; fixed exchange rate; delivery of service; higher education loan; domestic credit growth; governance and institutions; million people; economic growth prospects

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