Papua New Guinea Economic Update, July 2019
Papua New Guinea’s (PNG) economy has started recovering from a series of external shocks, but its growth outlook remains fragile due to rising uncertainties. The recovery is being observed in the resource sector, mainly in its extractive segment dominated by liquefied natural gas (LNG), while growth in the non-resource economy remains subdued due to sluggish domestic demand. A longer-term government agenda of building an inclusive and sustainable economy will require a focus on structural reforms. It also looks at sector-specific issues and identifies a set of implementation actions for each priority sector. Agriculture is one of the priority sectors due to its large share of the economy and the vast population living in rural areas that is involved in subsistence and cash income agriculture. To realize the potential of agriculture as a source of income and job creation, the authorities should consider policy options and responses that will secure sustainable rural livelihoods in food and agriculture, as discussed in the report.
Main Author: | |
---|---|
Format: | Report biblioteca |
Language: | English |
Published: |
World Bank, Washington, DC
2019-07-01
|
Subjects: | ECONOMIC GROWTH, ECONOMIC OUTLOOK, FISCAL TRENDS, MONETARY POLICY, EXTERNAL SECTOR, RISKS, AGRICULTURAL PRODUCTIVITY, RURAL LIVELIHOODS, SUSTAINABLE DEVELOPMENT, |
Online Access: | http://documents.worldbank.org/curated/en/534921562647834569/Papua-New-Guinea-Economic-Update-Recovery-Amid-Uncertainty https://hdl.handle.net/10986/32041 |
Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
Summary: | Papua New Guinea’s (PNG) economy has
started recovering from a series of external shocks, but its
growth outlook remains fragile due to rising uncertainties.
The recovery is being observed in the resource sector,
mainly in its extractive segment dominated by liquefied
natural gas (LNG), while growth in the non-resource economy
remains subdued due to sluggish domestic demand. A
longer-term government agenda of building an inclusive and
sustainable economy will require a focus on structural
reforms. It also looks at sector-specific issues and
identifies a set of implementation actions for each priority
sector. Agriculture is one of the priority sectors due to
its large share of the economy and the vast population
living in rural areas that is involved in subsistence and
cash income agriculture. To realize the potential of
agriculture as a source of income and job creation, the
authorities should consider policy options and responses
that will secure sustainable rural livelihoods in food and
agriculture, as discussed in the report. |
---|