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Papua New Guinea Economic Update, July 2020: In the Time of COVID-19 - From Relief to Recovery

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dc.contributor.authorWorld Bank Group
dc.date.accessioned2020-07-10T21:51:03Z
dc.date.available2020-07-10T21:51:03Z
dc.date.issued2020-07
dc.description.abstractPapua New Guinea’s economy has been hit hard by the COVID-19 crisis due to weaker demand and less favorable terms of trade. Pandemic-related global and national movement restrictions have weakened external and domestic demand and affected commodity prices, which will lead to an economic contraction, wider financing gaps in the external and fiscal accounts, and higher unemployment and poverty than previously anticipated in 2020. The authorities reacted swiftly to the emerging external shock by developing a package of emergency health and economic relief measures. While the focus of the authorities is currently on crisis mitigation measures, they should also look beyond the current year at a more robust and resilient recovery over the medium term. In addition to the economic analysis, the report contains additional sections dedicated to physical infrastructure development in PNG. The infrastructure section suggests that the provision of more equitable access to quality infrastructure will be crucial once the country moves to the recovery and resilience phase of COVID-19 response. While improving the quality of infrastructure in PNG faces serious constraints, the country’s abundance of natural resources is a potential source for financing the work and government’s stated vision and strategy can provide necessary policy guidance.en
dc.identifierhttp://documents.worldbank.org/curated/en/964591594230524376/Papua-New-Guinea-Economic-Update-In-the-Time-of-COVID-19-From-Relief-to-Recovery
dc.identifier.doi10.1596/34079
dc.identifier.urihttps://hdl.handle.net/10986/34079
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo
dc.subjectCORONAVIRUS
dc.subjectCOVID-19
dc.subjectPANDEMIC IMPACT
dc.subjectECONOMIC GROWTH
dc.subjectFISCAL TRENDS
dc.subjectMONETARY POLICY
dc.subjectEXTERNAL SECTOR
dc.subjectECONOMIC OUTLOOK
dc.subjectRISKS
dc.subjectINFRASTRUCTURE
dc.subjectPOVERTY REDUCTION
dc.subjectENERGY
dc.subjectTRANSPORT
dc.subjectWATER AND SANITATION
dc.subjectINFORMATION AND COMMUNICATION TECHNOLOGY
dc.subjectCONSTRAINTS
dc.titlePapua New Guinea Economic Update, July 2020en
dc.title.subtitleIn the Time of COVID-19 - From Relief to Recoveryen
dc.typeReporten
dc.typeRapportfr
dc.typeInformees
dspace.entity.typePublication
okr.crossref.titlePapua New Guinea Economic Update, July 2020: In the Time of COVID-19 - From Relief to Recovery
okr.date.disclosure2020-07-08
okr.doctypeEconomic & Sector Work
okr.doctypeEconomic & Sector Work::Economic Updates and Modeling
okr.docurlhttp://documents.worldbank.org/curated/en/964591594230524376/Papua-New-Guinea-Economic-Update-In-the-Time-of-COVID-19-From-Relief-to-Recovery
okr.guid964591594230524376
okr.identifier.doi10.1596/34079
okr.identifier.doihttps://doi.org/10.1596/34079
okr.identifier.externaldocumentum090224b087b63654_2_0
okr.identifier.internaldocumentum32171530
okr.identifier.report157031
okr.importedtrueen
okr.language.supporteden
okr.pdfurlhttp://documents.worldbank.org/curated/en/964591594230524376/pdf/Papua-New-Guinea-Economic-Update-In-the-Time-of-COVID-19-From-Relief-to-Recovery.pdfen
okr.region.administrativeEast Asia and Pacific
okr.region.countryPapua New Guinea
okr.topicEnergy::Energy Finance
okr.topicInformation and Communication Technologies::Digital Divide
okr.topicInfrastructure Economics and Finance::Infrastructure Economics
okr.topicInfrastructure Economics and Finance::Infrastructure Finance
okr.topicMacroeconomics and Economic Growth::Economic Growth
okr.topicMacroeconomics and Economic Growth::Fiscal & Monetary Policy
okr.topicPoverty Reduction::Employment and Shared Growth
okr.topicWater Supply and Sanitation::Water Supply and Sanitation Finance
okr.topicTransport::Transport Economics Policy & Planning
okr.unitPapua New Guinea Office
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