Papua New Guinea

updated:2021-06-01    


On April 2, 2020,the PNG government announced a K5.6 billion economic stimulus package in the parliament. The government has announced K600 million credit line to support businesses and individuals in coordination with the banks and financial institutions, and K500 million support from superannuation savings to employees affected by the economic slowdown. Moreover, the government has allocated K500 million more to support health, security and economic sector. A supplementary budget to accommodate the extra health spending and cut in low priority expenditure which will be tabled in the parliament in July.

Key Policy Responses as of March 5, 2021
 
Support for businesses includes K200 million in guarantees for loans to SMEs. Moreover, the government has allocated K645 million more to support health, security and economic sector. For 2021, the government has allocated K600 million (0.7 percent) to COVID-19 mitigation measures, and approved a similar amount to support primary healthcare and hospitals, including on capital spending to expand facilities.
 
 
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