Change resource laws for growth

THE debt subject is really a non-issue if we have best managers to negotiate and refinance debts below two per cent per annum, over a 20 year period, and channel new loans into productive areas of the economy.
The fallacy PNG faced in last 44 years was exporting raw materials out of the lower value chain stagnating the growth of the Gross Domestic Product (GDP).
If there is a change in policy to export all goods at a higher end of the value chain, the net effect would result in doubling or tripling of GDP.
Budget cuts by governments and those imposed by the World Bank and International Monetary Fund have not worked any miracles.
It is time to change resource laws and acquire real wealth for the country.

GS