Pacific

Challenging times ahead, says PNG's new Treasurer

05:03 am on 7 August 2017

The new man in charge of Papua New Guinea's Treasury admits some changes in government direction are necessary to manage an economy under huge strain.

Treasury last week released its Mid-year Economic and Fiscal Outlook which revealed a budget blowout of more than a billion kina [$US309 million], amid collapsed revenues and higher than expected expenditure.

Charles Abel was appointed Treasurer by Prime Minister Peter O'Neill who was re-elected when PNG's tenth parliament began last week.

Mr Abel, who was also announced as Deputy prime Minister, spoke to Johnny Blades soon after his appointment.

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Charles Abel, MP for Alotau in Papua new Guinea. Photo: The National