2024 Budget Passes Parliament

30 November 2023

The 2024 National Budget has passed parliament, the largest budget in the history of Papua New Guinea.

In his address to parliament on November 28th, the Hon. Ian Ling-Stuckey, Minister for Treasury, said that the theme for the budget was “Securing our Future.” Minister Ling-Stuckey has flagged this budget as an economic growth budget that dramatically increases investment in the economic sector by K508 million to K1,609 million this coming year. This comes with a strong focus on job creation and domestic growth in the economy, with targeted investments in agricultural sector agencies, forest and tourism sectors, and special supports for Special Economic Zones. At the same time, the budget allocates a record amount of K7,281 million on infrastructure investments for Papua New Guinea’s future, including funding for the historic PNG Connect Program.

The Minister has also highlighted the importance of the increased investments in essential services. Increased spending of 9.5% in policing will ensure an extra 500 police per year on the streets of PNG, with the aim of 10,000 police officers by 2032. Meanwhile, the Independent Commission Against Corruption will receive a fourfold increase in funding, solidifying the government’s commitment to tackle corruption. K6,670 million has been budgeted for health and education, an 8.3% increase on last year, which will support another 3,400 teachers.

Minister Ling-Stuckey has also made a commitment to supporting families through the cost-of-living crisis, by committing K440 million more to support families.

Budget documents are now available for public perusal.

Current Budget

See How the Latest Budget Will Deliver for Papua New Guineans