Research papers on rural development and poverty in PNG as part of the Asia-Pacific Viewpoint Journal Volume 46.
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.
Report by Oxford Business Week
This report stems from a simple observation: that since Independence in 1975, Papua New Guinea’s economic and social development outcomes have not matched people’s aspirations or government promises. Indeed, despite the abundance of its riches, PNG lags behind its Pacific neighbours on many important development indicators.