PNG shrugs global credit crisis to face inflation

Updated November 19, 2009 09:42:35

Papua New Guinea has emerged from the global economic crisis relatively unscathed, and the PNG budget handed down by Treasurer Patrick Pruaitch on Tuesday reflects that. The budget predicts stong economic growth for 2010, growing tax revenue and increased government expenditure.

The downside is high inflation, which is expected to rise to 9-point-5 per cent.

Presenter: Jemima Garrett
Speaker: Paul Barker, Director of the Papua New Guinea's Institute of National Affairs