Papua New Guinea Economic Update, January 2021 : Dealing with a Triple Crisis
In 2020, Papua New Guinea faced three crises: the COVID-19 health emergency, an economic contraction, and political turmoil. The economy contracted by 3.8 percent in 2020 and will rebound by 3.5 percent in 2021. Considering that the economy entered the COVID-19 crisis with a poor record of resilience to external shocks, strengthening macroeconomic management and accelerating structural reforms will be vital. Strengthening public institutions that deliver basic public services, especially during crises, is also important.
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| Format: | Report biblioteca |
| Language: | English |
| Published: |
World Bank, Washington, DC
2021-01-31
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| Subjects: | ECONOMIC GROWTH, FISCAL TRENDS, MONETARY POLICY, EXTERNAL SECTOR, ECONOMIC OUTLOOK, RISKS, PUBLIC SERVICE DELIVERY, INSTITUTIONS, PUBLIC INSTITUTIONS, INSTITUTIONAL CAPACITY, |
| Online Access: | http://documents.worldbank.org/curated/en/571201614305676233/Papua-New-Guinea-Economic-Update-Dealing-with-a-Triple-Crisis http://hdl.handle.net/10986/35194 |
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| Summary: | In 2020, Papua New Guinea faced three
crises: the COVID-19 health emergency, an economic
contraction, and political turmoil. The economy contracted
by 3.8 percent in 2020 and will rebound by 3.5 percent in
2021. Considering that the economy entered the COVID-19
crisis with a poor record of resilience to external shocks,
strengthening macroeconomic management and accelerating
structural reforms will be vital. Strengthening public
institutions that deliver basic public services, especially
during crises, is also important. |
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