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 Asian Development Bank

The gross domestic product (GDP) of Papua New Guinea (PNG) grew at an annual average rate of nearly 7% between 2007 and 2010, and is expected to perform even better in 2011. Moreover, the economy remained unaffected even at the peak of the global economic crisis, when most other major Southeast Asian and Pacific economies recorded low or negative GDP growth rates. Sound macroeconomic management in the recent past and planned initiatives such as the PNG LNG Project indicate that the economy will continue to perform well in the medium to long run.

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