Economy in safe hands, Poyle says

Main Stories, National

The National, Monday November 4th, 2013

 TREASURER Don Polye has reiterated that the economy is in safe hands and not in dire straits as made out by critics of the Government.

“The stories that you hear about deficits, don’t believe them because such don’t exist,” he said last Friday. “That’s a fact I’m telling you. These are just speculations,” Polye said.

He said he was laying down an iron fist when it came to fiscal discipline.

“I’m very strong on fiscal discipline. Papua New Guinea’s economic management and success in the economy depends on how well we manage ourselves with the fiscal discipline, meaning that you don’t spend beyond the budget you appropriated, you don’t overspend.

“You spend the money to grow the economy in those major areas within the policies of government. 

“I will ensure that Papua New Guinea follows the path of fiscal discipline. PNG will see a budget that is realistic.”

Poyle, the World Bank and International Monetary Fund chairman, has also appealed to development partners such as AusAid, Japan International Cooperation Agency, Asian Development Bank and European Union to increase their support to PNG.