PNG’s Bakani calls on government to cut costs
The government of Papua New Guinea should not repeat the experiences of previous years where expenditure is not adjusted whenever there is a shortfall in revenue, said Loi Bakani, the deputy governor of country's central bank.
Bakani said that the government should not resort to debt financing but should take a strong stand to cut expenditure in non-essential areas. He also said that a form of fiscal stimulus was needed to keep the economy going. He said that close coordination between fiscal
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