Macro - Country Economic Forecasts - Papua New Guinea

Macro - Country Economic Forecasts - Papua New Guinea

Papua New Guinea's (PNG) GDP growth is forecast to slow to 3.5% in 2023 from 4.5% in 2022 due to falling commodity prices, high inflation, tighter monetary policy, and slower global growth. Growth is expected to pick-up slightly to 4% in 2024, driven by the reopening of the Porgera gold mine, a rebounding global economy and lower but still high commodity prices.