The government of Papua New Guinea has continued to demonstrate its steadfast commitment to reducing debt and ensuring the long-term fiscal sustainability of public finances through its carefully devised debt strategy. Accessing low-cost concessional financing from bilateral and multilateral sources, while employing international standards when it comes to transparent budgeting, the government aims to build confidence in the economic outlook of the country. As outlined in the revised Fiscal Responsibility Act, the debt strategy calls for maintaining debt within a targeted range, striking a balance between responsible borrowing and economic growth. The medium-term budget debt strategies made available here offer a roadmap for maintaining these goals, and the long-term prosperity of Papua New Guinea.
