O’Neill to Return as Prime Minister of Papua New Guinea
May 12, 2017 – BY FRANKLIN KOLMA
International financial publication The Economist has published a bulletin that predicts a favourable outcome for current Prime Minister Peter O’Neill’s regime.
According to The Economist bulletin that was made available to subscribers in 90 countries around the world through post or online subscriptions, the ruling People’s National Congress-led government will be returned to govern for another five years.
This being as it may, the international firm’s experts’ project that there will be great political risk and volatility mid-2017 during the formation of the new government as a result of the unorthodox and somewhat controversial O’Neill regime.
“We expect the government of Peter O’Neill to be re-elected mid-2017, but political risk will nonetheless be high as the government implements expenditure cutbacks,” the publication reports.
The brief basically culminates at the notion that the O’Neill government has done rather well in pushing the economy beyond a point of economic equilibrium, while maintaining relative social harmony within the country.
The analytical piece goes on to highlight how excessive borrowing by the powers that be, will cause real GDP growth to be “less impressive” from 2017 to 2021 compared with that of 2012 to 2016 as a direct result of current major commodity projects and low global commodity prices weighing on export revenue and investment prospects.