Asian Development Bank

PNG collects low tax from mining and petroleum companies, says Asian Development Bank

Asian Development Bank, Economy, Tax / By

APRIL 7 2022 The Papua New Guinea tax take from mineral and petroleum companies is notably low, according to the Asian Development Bank’s Asian Development Outlook (ADO) 2022, which was released on April 6, 2022. “Only 7.0% of all tax revenue in 2019, equal to 0.6% of GDP, came from mining and petroleum companies in …

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Agriculture, forestry, fisheries grow by 3.7% in 2021

Agriculture, Asian Development Bank, Economy, Fisheries, Forestry / By

APRIL 7 2022 Agriculture, forestry, and fisheries expanded by an estimated 3.7% in 2021, according to the Asian Development Bank’s Asian Development Outlook (ADO) 2022 released on April 6, 2022. The ADO said this largely reflected recovery from a low base in 2020, when output was hampered by lockdowns and trade bottlenecks. “Increased production of …

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Asian Development Bank: PNG economic growth to be 3.4% in 2022 and 4.6% in 2023

Asian Development Bank, Economy, Liquified Natural Gas (LNG) / By

APRIL 6 2022 Economic growth in Papua New Guinea is expected to accelerate steadily to 3.4% in 2022 and 4.6% in 2023 as activity in mineral extraction picks up and more normal global economic conditions return, according to the Asian Development Bank’s Asian Development Outlook 2022 (ADO) released today (April 6 2022). “The Porgera gold …

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