Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698055297773.pdf (Papua New Guinea)
NATIONAL PARLIAMENT OF PAPUA NEW GUINEA 2020 National Budget Snapshot Chart 1: Budget (revenue v expenditure) Chart 2: Revenue and spending over time Chart 3: Government debt Per cent of nominal GDP Estima Historical % 4 2 0 -2 -4 -6 -8 -10 2000 2003 2006 2009 2012 2015 2018 2021 2024 % 4 2 0 -2 -4 -6 -8 -10 % 50 40 30 20 10 0 Per cent of nominal GDP Revenue Expenditure Estimated Historical 2000 2004 2008 2012 2016 2020 2024 % 50 40 30 20 10 0 % 80 70 60 50 40 30 20 10 0 Per cent of nominal GDP Projected Historical % 80 70 60 50 40 30 20 10 0 2000 2003 2006 2009 2012 2015 2018 2021 2024 The Budget is in deficit so borrowing is required to fund expenditure.
Revenue and expenditure are expected to fall between 2020 and 2024.

Debt is expected to peak in 2021 before falling to current levels by 2024.

Source: 2020 National Budget, Vol.

1, p. 45 Source: 2020 National Budget, Vol.

1, p. 154 Source: 2020 National Budget, Vol.


1, p. 107 Chart 4: Change in estimated Budget position K billion 2 $billion 2 Chart 5: Growth assumptions: Oil and gold Chart 6: Growth: Economy and inflation 1 0 -1 -2 -3 -4 -5 2019 Budget 2020 Budget 2019 2020 2021 2022 2023 1 0 -1 -2 -3 -4 15% 10% 5% 0% -5% -10% -15% 2019 2020 2021 2022 2023 2024 The deficit in 2020 is larger than expected in the Budget last year.
Source: 2020 and 2019 National Budgets Gold prices Oil prices are expected to fall until 2022, before recovering slightly in 2024.

Gold prices are set to increase, though at a diminishing rate.

Source: 2020 National Budget, Vol.

1, p.153 Oil prices Chart 7: Revenue by sector in 2020 Chart 8: Expenditure by sectoral classification 8 % 2019 2020 2021 2022 2023 2024 6 4 2 0 Economy Inflation Economic growth is expected to fall in 2020 before recovering.
Inflation is set to peak in 2022 before declining to a rate 1% higher than 2019’s.

Source: 2020 National Budget, Vol.


1, p. 153 Chart 9: Infrastructure expenditure Transport Health Education Economic Excise Duty Company Tax Goods and Services Tax Non-tax revenue Personal Income Tax Total revenue 0 5 10 15 K (Bil) Economic 0.7 Law and Order 1.4 Infrastructure 2.4 Social Services 3.2 Administrative Total expenditure 18.8 30.1 Administration Law Community & Culture Utilities 0 Top revenue heads for the National Government in the 2020 Budget.
Administrative expenditure includes K14.1 (Bil) in public debt charges.

K (Bil) This represents capital expenditure directly funded by the Government only.

Source: 2020 National Budget, Vol.

1, Tables 11, 12, 14, pp.

48-50 Source: 2020 National Budget, Vol.
2a, Table 1, pp.5-9 Source: 2020 National Budget, Vol.1, Table 20, p. 72 Chart 10: Major changes to revenue in 2020 Chart 11: Expenditure by sector in 2020 Excise on imported vehicles Duty on old-growth logs… Excise on alcohol and tobacco Land lease rental payments Total new revenue measures Provinces Transport Utilities Administration Community & Culture Debt Services Economic Education -100 0 100 200 K (Mil) Law & Justice Health Chart 12: National Government grants and transfers Health Education Transport infrastructure Other Provincial Govt grants GST Local Level Govt grants Other revenue Public service and teacher salaries and leave fares New revenue measures contribute to an increase in revenue in in 2020 of K 218 (Mil).
Source: 2020 National Budget, Vol.

1, p.57 Major programmes of Government spending.

Source: 2020 National Budget, Vol.

1, Table 20, p.72 Composition of K3 (Bil) in transfer payments to provinces and local governments.
Source: 2020 National Budget, Vol.1, p. 142-3 The production of this Budget brief is supported by the United Nations Development Programme Pacific Parliamentary Effectiveness Initiative Project funded by the New Zealand Historical data prior to 2014 was sourced from https://devpolicy.crawford.anu.edu.au/png-project/png-budget-database DISCLAIMER: This information is provided to Members of Parliament in support of their parliamentary duties.
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