We need to borrow to develop economy – O’Neill
“We need to borrow money develop the economy,” said Prime Minister Hon. Peter O’Neill, during his elections nomination in Pangia yesterday.
“We must continue to manage our law and order. We must build more roads, bridges, airports, airstrips, wharves and jetty across the country,” he said.
The PM said apart from infrastructure it was important to strengthen our local economy by empowering the local SME sector.
Mr O’Neill also stressed the importance of maintaining political stability in the country to take this country forward.
“The next 5 years is very crucial to our country because we need stability in our leadership,” he said.
He said every year the country the national government spent K12 billion on the following –
1. Pubic Service – K5 billion
2. Education – K3 billion
3. Health – K2 billion
4. PSIP/DSIP – K1.5 billion
5. Law & Order – K500 million
He said it was impossible for the national government to feed every mouth in the country, however providing the right budget allocation to the provinces, districts, LLGs and wards that would benefit the population in the country was the ideal option at this juncture.
“No one is mismanaging the economy, our country is in the right direction and therefore we must strengthen our people and our economy,” he said.