Positive news

I WRITE in reference to an article in The National this month “Positive news for nation’s GDP”.
The heading has brought some sense of hope out of the cloud of despair which are in right now.
Economic growth of any nation in the world is solely depends on its gross domestic product (GDP).
GDP is the final value of the output of goods and services produced within the boundaries of a nation in a year.
In the last two years, 2016 and 2017, the GDP level of PNG was not growing at a steady rate.
In 2016, according to PNG’s mid-year economic and fiscal outlook report, the economy was estimated to have grown by 2.0 per cent in which the major drivers of this was the agriculture and mining sector.
In 2017, the domestic economy was projected to continue at 2.7 per cent, slightly lower by 0.1 percentage point from the 2017 budget estimate of 2.8 per cent.
This reflects lower than the anticipated growth.
By comparing the GDP of the past two years, one can make a good assessment on the on the latest level of production, consumption, investments, government spending, exports and potential
import rates of Papua New Guinea. The GDP is the best indicator of the performance of an economy overtime.
The article read that according to Asian Development Bank (ADB), the GDP is projected to grow between 1.8 per cent and 2.5 per cent this year compared to 2.2 per cent last year.
This is truly a positive news for nation’s GDP and it is great for PNG and its people.
Glad that we are still prospering inch-by-inch in the middle of chaos that we’re in like the recent natural disaster.

Kurere Matanzana
UPNG student