• 5 days ago
Papua New Guinea faces economic challenges like dependence on natural resources, rising inflation, debt, poor infrastructure, corruption, and unemployment. To address these issues, the country can diversify its economy, invest in education and infrastructure, enhance governance, manage debt prudently, and stabilize inflation. These steps require strong political will and stakeholder engagement for sustainable reform and growth.
References:

1. "Papua New Guinea Country Profile," World Bank
(https://www.worldbank.org/en/country/png/overview)
2. "Papua New Guinea Economic Outlook," Asian Development Bank
(https://www.adb.org/countries/papua-new-guinea/economy)
3. "Papua New Guinea Economic Development Plan 2010-2030," Department of National Planning & Monitoring, Papua New Guinea
(https://www.dpm.gov.pg/publications/EconDevPlan2010-2030.pdf)
4. "Papua New Guinea Economy." The World Bank. Available at: https://www.worldbank.org/en/country/png/overview
5. "Papua New Guinea Economics and Statistics Bureau." Available at: https://www.nso.gov.pg/
6. "Papua New Guinea Currency." The Bank of Papua New Guinea. Available at: https://www.bankpng.gov.pg/

7. Filer, Colin. "The Political Economy of Papua New Guinea." International Review of Social Sciences and Humanities, vol. 10, no. 1, 2016, pp. 62-78.
8. Sai, Damba. "Economic Development in Papua New Guinea: Issues and Challenges." Journal of Economic Studies, vol. 5, no. 2, 2018, pp. 112-128.
9. Marape, James. "Building a Sustainable Future: Economic Policies for Papua New Guinea." Journal of Pacific Economics, vol. 15, no. 3, 2019, pp. 201-215.
10. https://www.worldbank.org/en/country/png/overview
11. Economic forecasts for Papua New Guinea
https://www.adb.org/where-we-work/papua-new-guinea/economy

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