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Papua New Guinea - Policies and prospects for sustained and broad-based growth, Volume 1
Country:Papua New Guinea; Date Stored:2003/08/01
Document Date:1988/08/31Document Type:Publication
SubTopics:Information Technology; Information and Records Management; Transport Security; General Technology; Educational Technology and Distance EducationISBN:ISBN 0-8213-1124-7
Language:EnglishMajor Sector:(Historic)Economic Policy
Region:East Asia and PacificReport Number:PUB7121
Sub Sectors:(Historic)Macro/non-tradeCollection Title:A World Bank country study
Volume No:1  

Summary: Despite abundant natural resources and the prospects of a major increase in mineral revenues, Papua New Guinea faces several development challenges in the years ahead. Nevertheless, opportunities exist provided that sound economic �polices are maintained, private sector initiatives are encouraged, projects are successfully implemented, skilled manpower is increased and the required external capital and technical assistance is obtained. This paper consists of five chapters which provide an overview of development and growth prospects in Papua New Guinea. Chapter 1 looks at the country's recents performance, policy issues and prospects. Chapter 2 reviews the development issues of the mining and petroleum industries as well as the key productive sectors. It pays particular emphasis to agriculture and suggests supporting initiatives in the expansion of infrastructure and human resource development. Chapter 3 discusses the main elements of investment strategy and policy against a backdrop of recent trends. Chapter 4 examines key issues related to resource management in the public sector, including fiscal management, budgetary support, public investment and institutional reform. Finally, Chapter 5 discusses the requirements, performance and prospects of external trade and financing.

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