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Polye says PNG in recession; faces tough economic challenges

Don PolyeDON POMB POLYE | PNG Opposition Leader | Edited extracts

I’M urging my fellow citizens to brace themselves for tougher economic challenges ahead – both over the next 12 months and beyond.

I refute claims by prime minister Peter O’Neill that the Papua New Guinea economy is safe and sound and make this warning in light of the country’s debt of over K27 billion.

PNG is in recession.

The total value of our economy is only K41 billion and it is appalling to note that our debt to GDP ratio is over 60%.

If this is not addressed, PNG will go down the path of Greece and other countries.

The prime minister has been saying the economy is in capable hands but he has failed to explain how it is safe and sound.

He does not have any strategy to bail out the country from its economic dilemma. He is only good at spending, borrowing and selling sovereign bonds.

The government knows it is not managing the country’s economy well.

I am warning our people to brace for much toucher economic problems over the next 12 months and beyond. The prime minister has been reluctant to admit the truth about the economy.

PNG’s economy is set to take a nose dive if the prime minister fails to devise an adequate fiscal strategy.

The 2016 Budget will not materialise as it is a paper budget and its figures do not reconcile. The government will struggle to subsidise health and education.


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Raymond Komis Girana

K27 billion is too much for a country like our that is struggling economically. O'Neill and his government have added yet another burden to what has already been a struggle for our country over the past years. I hate to read and hear of the term 'weak' or 'failed' state as often referred to Pacific Island States. Are we through this current government headed by O'Neill trying to put a permanent stamp upon such analysis? This is a wake up call and it is time we look at alternatives in terms of good governance coz there's more room to move. Citizens, let us decide what is best for our nation.

John K Kamasua

Many educated and informed people were hoodwinked into believing everything was all right.

Polye should not be grandstanding to look righteous. He had a chance to put things right, right?

Paul Waugla Wii

What right has Peter O'Neill to sell the future of our children?

Something is totally wrong with the current regime.

Daniel Ipan Kumbon

Burn Waigani. All good citizens living in Port Moresby go back to your villages if you love your homeland.

Paul Oates

Isn't there a parable in the Bible about a man who sold his birthright for a 'mess of pottage'?

Mathias Kin

Wow, this is dangerous. What happens to my children? Do we have a future?

I don't totally understand the economics of all this but surely I know that our children and those to be born will be the very people who will have to live with the mistakes of O'Neill.

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