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Apr 5, 2015

PNG to be a leading fast growing economy in Asia in 2015: ADB | Pacific Beat

PNG to be a leading fast growing economy in Asia in 2015: ADB | Pacific Beat



The Asian Development Outlook says PNG will see growth of 15 per cent, cementing its place as one of the fastest growing economies in Asia, while East Timor can expect growth of 6.2 per cent.
Both countries rely heavily on oil and gas.
Chris Edmonds says the strong growth in PNG is a spike brought about by the launch of liquid natural gas exports from the big ExxonMobil processing plant near Port Moresby.
He says growth will peak this year before falling to 5 per cent in 2016.

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