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KWIC Report: Friday, 12 August 2016

PNG Macro Environment

There has been steady improvement in market prices for key income commodities, however we maintain our view that it may still be difficult to achieve stronger GDP growth noting that the 2016 Mid-Year Economic Fiscal Outlook (MYEFO) report has projected growth to be 2.2% compared to the Budget forecast of 4.3%. The PNG Kina continues to depreciate against the US dollar thus supporting our view that inflation will increase over the next six months.

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