Reforms can secure Papua New Guinea’s growth
Author: Paul Holden, PPSDI
Papua New Guinea’s recent period of exponential growth places it among the world’s most rapidly developing economies.
Between 2005 and 2014, PNG’s economy expanded at a real annual rate of 6.6 per cent and income per capita reached US$2,081. Growth benefitted from macroeconomic stability and low volatility in output and, since 2009, was powered by a large amount of investment in the natural resources sector. It was also supported by the huge increase in demand for commodities worldwide, particularly in Asia. http://www.eastasiaforum.org/2015/07/17/reforms-can-secure-papua-new-guineas-growth/