National Budget

PNG expenditure requires K50 billion

Finance Minister, James Marape, said this today during the Finance Departments announcement of the Public Finance Management Act 2016 in Port Moreby.

Marape told dignitaries and public servants at the event that PNG’s development needs since independence has always exceeded the country’s budget.

“The need of our country has always exceeded the actual fiscal cash we have on hand to run our budget. That is something that everyone of us, including our public commentators must appreciate.

Tomuriesa reassures repayment of K80m to trust account

The K80 million was borrowed by the Government to supplement the National Budget.

Tomuriesa said in Parliament today that Prime Minister Peter O’Neill and Treasurer Patrick Pruaitch have already given the assurance for the reimbursement of those funds.

He assured that the funds will be paid back to the trust account through the Forestry Department.

Tomuriesa was responding to question raised by Member for Kikori Mark Maipakai on when the funds will be reimbursed.

Picture by Kennedy Bani