PM: Economy doing well despite critics

By MATTHEW VARI

Wednesday, January 21, 2015 (Midweek Chronicle, PNG)

THE Prime Minister gave a hit back at the critic last week when downplaying all predications of economic doom.

His comments came in light of the government’s presentation of its K1.5 billion road plan for the 2015 year.

“Not long ago many predicted that it was the LNG construction stage was coming to an end our economy would slow down,” Prime Minister O’Neill said.

“I’m sure now that you and I know that it has not slowed down, largely because of our investments as a government.

“We have made a deliberate decision to invest in infrastructure in making sure that all these technically experienced people form the LNG project are engaged in the construction industry.”

He said that as a result the economy is still maintaining growth levels currently experienced, adding that they would maintain focus on what they have been doing.

“I know that many want to be experts of the economy, continue to preach about the doom that we will experience, but let me assure you- so far on record since 2011 we have delivered what we have said we will deliver in the country.”

“We said that we would have a high level of deficit in 2012 which we had, but it will be a declining one heading to a balanced budget in 2017 and we are on track.”

“Last year we delivered a 5.9% deficit budget. This year we are going down to less than 4% and next year down to less than 3% and below that we will come down to a balanced budget,” he explained.

He said the reasons for a continued deficit budget since 2012 was to ensure that sufficient funding was available in the economy to fund the infrastructure programs currently undergoing in the country.

“I want to assure you that the government will make sure that we stay committed to the programs that we have done.”

“There are critics out there, who will continue to criticize us because critics never say anything good about anybody- it is their job in any case, we expect that from them.”

“A negative person will always be negative, but let me say that we are all not new to positions of responsibility- many of us have played roles in different positions over time, many have scorecards on the board already.”

“You can judge all of us with the scorecard we have, I think our government’s scorecard is an enviable one by many, and I think in 2017 when we go to the elections people will judge us with the scorecard that we have.”