PAPUA New Guinea’s prime minister Peter O’Neill has admitted to PNG Today that the country is going through challenging times.
He has blamed PNG’s increasingly dire economic problems on the downturn in commodity prices.
“The price of copper, silver and tin has halved. And the price of LNG has fluctuated to where it was in 2012,” Mr O’Neill told PNG Today.
“I appreciate these resource price downturns are impacting government revenues, but they are also having a real impact on our private sector, especially on resource developers, contractors, suppliers, and on employees.