Papua New Guinea: Background Material

This Background Material paper describes developments in the mineral sector of Papua New Guinea during the 1990s. It examines causes and implications of the buildup in fiscal arrears. The paper highlights that one of the notable developments in 1994 was the emergence of large fiscal arrears, which had important effects on monetary and external developments during the second half of 1994 and early 1995. The paper also provides background information on the causes of these arrears and the actions taken by the authorities to settle them.

Abstract

Table 1.

Papua New Guinea: Selected Economic Indicators, 1990-94

Sources: Data provided by the Papua New Guinea authorities: and staff estimates.

^{^1/}Excluding loans to the commodity stabilization funds.

^{^2/}End of period.

^{^3/}Percent change from end of previous period; based on the IMF Information Notice System indices, excluding Brazil and Chile.

Table 1.

Papua New Guinea: Selected Economic Indicators, 1990-94

							Est.
			1990	1991	1992	1993	1994
Growth (percent change)
	Real GDP		-3.0	9.5	11.8	16.6	3.0
	Mineral		22.8	41.9	56.0	62.5	-2.5
	Nonmineral		-5.6	5.2	3.8	4.2	5.3
		Of which: Agriculture	(2.2)	(-2.6)	(6.1)	(9.4)	(5.4)
Inflation (percent change)
	GDP deflator		4.1	7.0	2.7	4.0	4.7
	CPI (annual average)		7.0	7.0	4.3	5.0	2.9
	CPI (12 months)		8.9	5.7	5.0	4.8	6.5
Terms of trade (percent change)			-6.6	0.7	-1.6	9.9	3.6
Central government budget (percent of GDP)
	Revenue and grants		32.1	31.2	27.2	26.1	268
	Expenditure		35.4	32.9	32.8	32.0	29.1
	Overall deficit		-3.3	-1.8	-5.6	-5.9	-2.3
	Domestic financing		2.9	3.4	4.7	4.8	4.5
	Foreign financing		0.4	-1.7	1.0	1.0	-2.2
Money and credit (percent change over previous year)
	Total domestic credit		8.6	21.7	13.1	7.5	7.1
		Private credit ^1/	-0.1	9.0	0.6	-11.0	10.2
		Broad money	3.4	17.4	12.0	15.2	-0.2
		Interest rate (average term deposit rate)	7.6	7.0	5.9	3.7	4.5
Balance of payments (US$ mn.)
	Exports, f.o.b.		1,317	1,598	1,908	2,597	2,708
	Imports, f.o.b.		-1,106	-1,404	-1,322	-1,135	-1,313
	Current account		-92	-152	-39	530	561
		Of which: Interest payments	(-147)	(-130)	(-158)	(-210)	(-166)
	Current account (percent of GDP)		-2.9	-4.0	-0.9	10.3	10.4
	Overall balance		-48	-85	-70	-98	-81
Reserves (end of year, US$ mn.)
	Gross reserves		397	324	247	141	96
		(In months of nonmineral imports, c.i.f.)	(5.6)	(4.1)	(3.1)	(1.8)	(1.3)
External debt (end-of-year stock; US$ mn.)
	Medium- and long-term external debt		2,484	2,638	3,332	2,933	2,315
		(As percent of GDP)	(77)	(70)	(78)	(57)	(43)
	Debt service		536	586	630	1,003	937
		(As percent of external current receipts)	(28)	(25)	(23)	(32)	(30)
Exchange rates:
	Kina per US$ ^2/		0.95	0.95	0.99	0.98	1.18
	Nominal effective rate		-12.00	0.20	-0.40	-0.50	-20.1
	Real effective rate ^3/		-9.50	1.80	2.10	0.70	-17.0

Sources: Data provided by the Papua New Guinea authorities: and staff estimates.

^{^1/}Excluding loans to the commodity stabilization funds.

^{^2/}End of period.

^{^3/}Percent change from end of previous period; based on the IMF Information Notice System indices, excluding Brazil and Chile.

Table 1.

Papua New Guinea: Selected Economic Indicators, 1990-94

							Est.
			1990	1991	1992	1993	1994
Growth (percent change)
	Real GDP		-3.0	9.5	11.8	16.6	3.0
	Mineral		22.8	41.9	56.0	62.5	-2.5
	Nonmineral		-5.6	5.2	3.8	4.2	5.3
		Of which: Agriculture	(2.2)	(-2.6)	(6.1)	(9.4)	(5.4)
Inflation (percent change)
	GDP deflator		4.1	7.0	2.7	4.0	4.7
	CPI (annual average)		7.0	7.0	4.3	5.0	2.9
	CPI (12 months)		8.9	5.7	5.0	4.8	6.5
Terms of trade (percent change)			-6.6	0.7	-1.6	9.9	3.6
Central government budget (percent of GDP)
	Revenue and grants		32.1	31.2	27.2	26.1	268
	Expenditure		35.4	32.9	32.8	32.0	29.1
	Overall deficit		-3.3	-1.8	-5.6	-5.9	-2.3
	Domestic financing		2.9	3.4	4.7	4.8	4.5
	Foreign financing		0.4	-1.7	1.0	1.0	-2.2
Money and credit (percent change over previous year)
	Total domestic credit		8.6	21.7	13.1	7.5	7.1
		Private credit ^1/	-0.1	9.0	0.6	-11.0	10.2
		Broad money	3.4	17.4	12.0	15.2	-0.2
		Interest rate (average term deposit rate)	7.6	7.0	5.9	3.7	4.5
Balance of payments (US$ mn.)
	Exports, f.o.b.		1,317	1,598	1,908	2,597	2,708
	Imports, f.o.b.		-1,106	-1,404	-1,322	-1,135	-1,313
	Current account		-92	-152	-39	530	561
		Of which: Interest payments	(-147)	(-130)	(-158)	(-210)	(-166)
	Current account (percent of GDP)		-2.9	-4.0	-0.9	10.3	10.4
	Overall balance		-48	-85	-70	-98	-81
Reserves (end of year, US$ mn.)
	Gross reserves		397	324	247	141	96
		(In months of nonmineral imports, c.i.f.)	(5.6)	(4.1)	(3.1)	(1.8)	(1.3)
External debt (end-of-year stock; US$ mn.)
	Medium- and long-term external debt		2,484	2,638	3,332	2,933	2,315
		(As percent of GDP)	(77)	(70)	(78)	(57)	(43)
	Debt service		536	586	630	1,003	937
		(As percent of external current receipts)	(28)	(25)	(23)	(32)	(30)
Exchange rates:
	Kina per US$ ^2/		0.95	0.95	0.99	0.98	1.18
	Nominal effective rate		-12.00	0.20	-0.40	-0.50	-20.1
	Real effective rate ^3/		-9.50	1.80	2.10	0.70	-17.0

Sources: Data provided by the Papua New Guinea authorities: and staff estimates.

^{^1/}Excluding loans to the commodity stabilization funds.

^{^2/}End of period.

^{^3/}Percent change from end of previous period; based on the IMF Information Notice System indices, excluding Brazil and Chile.

Table 2.

Papua New Guinea: Summary of Central Government Operations, 1990-95

Sources: Data provided by the PNG authorities; and staff projections.

^{^1/}Asset sales (K 30 million in 1994 and K 50 million in 1995) are classified as a revenue item.

^{^2/}Expenditures are recorded on a “checks-written” basis.

^{^3/}For 1995, proxied by budgetary expenditure for public sector investment.

^{^4/}Including statistical discrepancies as well as arrears.

^{^5/}In 1993, includes float.

Table 2.

Papua New Guinea: Summary of Central Government Operations, 1990-95

								Est.	Budget
				1990	1991	1992	1993	1994	1995
				(In millions of kina)
Total revenue and grants ^1/				989	1,123	1,126	1,311	1,447	1,572
	Mineral revenue			6	13	83	273	282	224
	Nonmineral revenue			761	798	847	856	1,001	1,158
	Foreign grants			222	312	196	182	165	190
Total expenditure and net lending ^2/				1,089	1,188	1,358	1,605	1,573	1,630
	Current expenditure			936	1,031	1,194	1,395	1,416	1,321
		Wages and salaries		332	344	376	395	437	391
		Interest payments		109	117	145	158	185	215
		Other		495	571	672	842	794	715
	Capital expenditure ^3/			153	157	164	210	157	309
Overall deficit (-)/surplus (+)				-100	-65	-232	-294	-125	-58
Financing				100	65	232	294	125	58
	Foreign, net			12	-60	39	52	-118	10
		Concessional loans		131	21	72	10	-11	56
			New borrowing	157	146	111	57	44	111
			Amortization	-26	-126	-39	-48	-55	-55
		Commercial loans		-119	-80	-33	42	-107	-117
			New borrowing	0	0	0	97	0	0
			Amortization	-119	-80	-33	-55	-107	-117
		Exceptional financing		0	0	0	0	0	70
	Domestic, net			88	124	193	242	244	49
		Borrowing from banking system		92	147	174	228	24	138
		Nonbank		-4	19	3	26	79	55
		Other ^4/		1	-42	16	-12	140	-145
				(In percent of GDP)
Total revenue and grants ^1/				32.1	31.2	27.2	26.1	26.8	26.1
	Mineral revenue			0.2	0.4	2.0	5.5	5.2	3.7
	Nonmineral revenue			24.7	22.1	20.5	17.1	18.5	19.2
	Foreign grants			7.2	8.6	4.7	3.6	3.0	3.1
Total expenditure and net lending				35.4	32.9	32.8	32.0	29.1	27.1
	Current expenditure			30.4	28.6	28.8	27.8	26.2	21.9
	Capital expenditure ^3/			5.0	4.3	4.0	4.2	2.9	5.1
Overall deficit (-)/surplus (+)				-3.3	-1.8	-5.6	-5.9	-2.3	-1.0
Financing				3.3	1.8	5.6	5.9	2.3	1.0
	Foreign, net			0.4	-1.7	1.0	1.0	-2.2	0.2
	Domestic, net			2.9	3.4	4.7	4.8	4.5	0.8
Memorandum items:
	Overall deficit/surplus excluding asset sales			-100	-65	-232	-294	-155	-108
		(In percent of GDP)		(-3.3)	(-1.8)	(-5.6)	(-5.9)	(-2.9)	(-1.8)
	Domestic arrears ^5/			…	…	…	60	120	0

Sources: Data provided by the PNG authorities; and staff projections.

^{^1/}Asset sales (K 30 million in 1994 and K 50 million in 1995) are classified as a revenue item.

^{^2/}Expenditures are recorded on a “checks-written” basis.

^{^3/}For 1995, proxied by budgetary expenditure for public sector investment.

^{^4/}Including statistical discrepancies as well as arrears.

^{^5/}In 1993, includes float.

Table 2.

Papua New Guinea: Summary of Central Government Operations, 1990-95

								Est.	Budget
				1990	1991	1992	1993	1994	1995
				(In millions of kina)
Total revenue and grants ^1/				989	1,123	1,126	1,311	1,447	1,572
	Mineral revenue			6	13	83	273	282	224
	Nonmineral revenue			761	798	847	856	1,001	1,158
	Foreign grants			222	312	196	182	165	190
Total expenditure and net lending ^2/				1,089	1,188	1,358	1,605	1,573	1,630
	Current expenditure			936	1,031	1,194	1,395	1,416	1,321
		Wages and salaries		332	344	376	395	437	391
		Interest payments		109	117	145	158	185	215
		Other		495	571	672	842	794	715
	Capital expenditure ^3/			153	157	164	210	157	309
Overall deficit (-)/surplus (+)				-100	-65	-232	-294	-125	-58
Financing				100	65	232	294	125	58
	Foreign, net			12	-60	39	52	-118	10
		Concessional loans		131	21	72	10	-11	56
			New borrowing	157	146	111	57	44	111
			Amortization	-26	-126	-39	-48	-55	-55
		Commercial loans		-119	-80	-33	42	-107	-117
			New borrowing	0	0	0	97	0	0
			Amortization	-119	-80	-33	-55	-107	-117
		Exceptional financing		0	0	0	0	0	70
	Domestic, net			88	124	193	242	244	49
		Borrowing from banking system		92	147	174	228	24	138
		Nonbank		-4	19	3	26	79	55
		Other ^4/		1	-42	16	-12	140	-145
				(In percent of GDP)
Total revenue and grants ^1/				32.1	31.2	27.2	26.1	26.8	26.1
	Mineral revenue			0.2	0.4	2.0	5.5	5.2	3.7
	Nonmineral revenue			24.7	22.1	20.5	17.1	18.5	19.2
	Foreign grants			7.2	8.6	4.7	3.6	3.0	3.1
Total expenditure and net lending				35.4	32.9	32.8	32.0	29.1	27.1
	Current expenditure			30.4	28.6	28.8	27.8	26.2	21.9
	Capital expenditure ^3/			5.0	4.3	4.0	4.2	2.9	5.1
Overall deficit (-)/surplus (+)				-3.3	-1.8	-5.6	-5.9	-2.3	-1.0
Financing				3.3	1.8	5.6	5.9	2.3	1.0
	Foreign, net			0.4	-1.7	1.0	1.0	-2.2	0.2
	Domestic, net			2.9	3.4	4.7	4.8	4.5	0.8
Memorandum items:
	Overall deficit/surplus excluding asset sales			-100	-65	-232	-294	-155	-108
		(In percent of GDP)		(-3.3)	(-1.8)	(-5.6)	(-5.9)	(-2.9)	(-1.8)
	Domestic arrears ^5/			…	…	…	60	120	0

Sources: Data provided by the PNG authorities; and staff projections.

^{^1/}Asset sales (K 30 million in 1994 and K 50 million in 1995) are classified as a revenue item.

^{^2/}Expenditures are recorded on a “checks-written” basis.

^{^3/}For 1995, proxied by budgetary expenditure for public sector investment.

^{^4/}Including statistical discrepancies as well as arrears.

^{^5/}In 1993, includes float.

Table 3.

Papua New Guinea: Monetary Survey, 1990-95

Sources: Data provided by the PNG authorities; and staff projections.

^{^1/}Includes price stabilization funds.

Table 3.

Papua New Guinea: Monetary Survey, 1990-95

			Dec.	Dec.	Dec.	Dec.	Dec.	March Prelim.
			1990	1991	1992	1993	1994	1995
			(In millions of kina; end of period)
Net foreign assets			239	174	138	178	71	28
	Bank of Papua New Guinea		317	250	180	92	-7	-50
	Commercial banks		-78	-76	-42	86	79	79
Net domestic assets			834	1,087	1,274	1,449	1,552	1,615
	Domestic credit		1,105	1,345	1,521	1,635	1,751	1,791
		Credit to consolidated central government ^1/	172	324	498	726	749	825
		Credit to the private sector	931	1,015	1,021	908	1,001	965
	Other items (net)		-271	-258	-247	-186	-198	-176
Broad money			1,074	1,261	1,411	1,627	1,624	1,643
	Narrow money		330	401	414	529	571	547
	Quasi money		744	860	997	1,098	1,052	1,097
			(Annual percentage changes)
Net foreign assets			-4.7	-27.5	-20.8	29.4	-59.9	-57.7
Net domestic assets			6.0	30.3	17.2	13.7	7.2	-1.2
	Domestic credit		8.6	21.7	13.1	7.5	7.1	-0.9
		Credit to consolidated central government	102.4	88.2	53.8	45.9	3.2	-7.6
		Credit to the private sector	-0.1	9.0	0.6	-11.0	10.2	5.7
Broad money			3.4	17.4	12.0	15.2	-0.2	-3.5
	Narrow money		-6.2	21.4	3.4	27.7	8.1	-2.7
	Quasi money		8.4	15.7	16.0	10.1	-4.1	-3.8
Memorandum items:
	Reserve money		177	166	169	204	223	185
		(Percent change)	(15.1)	(-6.6)	(2.2)	(20.3)	(9.5)	(-2.8)

Sources: Data provided by the PNG authorities; and staff projections.

^{^1/}Includes price stabilization funds.

Table 3.

Papua New Guinea: Monetary Survey, 1990-95

			Dec.	Dec.	Dec.	Dec.	Dec.	March Prelim.
			1990	1991	1992	1993	1994	1995
			(In millions of kina; end of period)
Net foreign assets			239	174	138	178	71	28
	Bank of Papua New Guinea		317	250	180	92	-7	-50
	Commercial banks		-78	-76	-42	86	79	79
Net domestic assets			834	1,087	1,274	1,449	1,552	1,615
	Domestic credit		1,105	1,345	1,521	1,635	1,751	1,791
		Credit to consolidated central government ^1/	172	324	498	726	749	825
		Credit to the private sector	931	1,015	1,021	908	1,001	965
	Other items (net)		-271	-258	-247	-186	-198	-176
Broad money			1,074	1,261	1,411	1,627	1,624	1,643
	Narrow money		330	401	414	529	571	547
	Quasi money		744	860	997	1,098	1,052	1,097
			(Annual percentage changes)
Net foreign assets			-4.7	-27.5	-20.8	29.4	-59.9	-57.7
Net domestic assets			6.0	30.3	17.2	13.7	7.2	-1.2
	Domestic credit		8.6	21.7	13.1	7.5	7.1	-0.9
		Credit to consolidated central government	102.4	88.2	53.8	45.9	3.2	-7.6
		Credit to the private sector	-0.1	9.0	0.6	-11.0	10.2	5.7
Broad money			3.4	17.4	12.0	15.2	-0.2	-3.5
	Narrow money		-6.2	21.4	3.4	27.7	8.1	-2.7
	Quasi money		8.4	15.7	16.0	10.1	-4.1	-3.8
Memorandum items:
	Reserve money		177	166	169	204	223	185
		(Percent change)	(15.1)	(-6.6)	(2.2)	(20.3)	(9.5)	(-2.8)

Sources: Data provided by the PNG authorities; and staff projections.

^{^1/}Includes price stabilization funds.

Table 4.

Papua New Guinea: Balance of Payments, 1990-94

(In millions of U.S. dollars)

Sources: Data provided by the Papua New Guinea authorities; and staff estimates.

^{^1/}Includes errors and omissions in 1990-92.

^{^2/}Excluding purchases from the IMF.

Table 4.

Papua New Guinea: Balance of Payments, 1990-94

(In millions of U.S. dollars)

								Est.
				1990	1991	1992	1993	1994
Trade balance				211	195	586	1,462	1,395
	Exports, f.o.b.			1,317	1,598	1,908	2,597	2,708
		Mineral		913	1,172	1,515	1,900	1,826
		Nonmineral		404	426	393	697	882
	Imports, f.o.b.			-1,106	-1,404	-1,322	-1,135	-1,313
		Mineral		-260	-454	-365	-192	-291
		Nonmineral		-847	-950	-957	-943	-1,023
Services and transfers				-303	-346	-625	-932	-834
	Net services			-421	-606	-818	-975	-846
	Transfers			119	259	193	43	12
Current account				-92	-152	-39	530	561
	Mineral			472	379	605	1,121	1,114
	Nonmineral			-564	-531	-644	-591	-553
Capital account				44	66	-31	-636	-642
	Official			31	-56	59	54	-102
		Concessional (net)		121	18	53	8	-13
		Commercial (net)		-90	-74	6	46	-89
	Private			14	122	-90	-690	-540
		Commercial banks (net)		-23	-2	-35	-109	-7
		Other ^1/		37	124	-55	-581	-533
			Mineral	…	…	…	-580	-575
			Nonmineral	…	…	…	-1	42
Errors and omissions				…	…	…	8	0
Overall balance				-48	-85	-70	-98	-81
	Mineral			…	…	…	489	539
	Nonmineral			…	…	…	-587	-620
Change in net official reserves				48	85	70	98	81
Change in liabilities of BPNG
	IMF net			54	0	0	-15	-31
		Purchases		54	0	0	0	0
		Repurchases		0	0	0	15	31
	Other			0	12	-7	0	76
Reserves (increase-)				-6	73	77	113	35
Residual financing gap ^2/				0	0	0	0	0
Memorandum items:
	Gross reserves (end of year)			397	324	247	141	96
		Months of nonmineral imports		5.6	4.1	3.1	1.8	1.3
	Current account/GDP			-2.9	-4.0	-0.9	10.3	10.4
	Nonmineral current account/GDP			-17.5	-14.0	-15.0	-11.5	-10.3
	Debt-service ratio			28	25	23	32	30
	Debt/GDP ratio			77	70	78	57	43

Sources: Data provided by the Papua New Guinea authorities; and staff estimates.

^{^1/}Includes errors and omissions in 1990-92.

^{^2/}Excluding purchases from the IMF.

Table 4.

Papua New Guinea: Balance of Payments, 1990-94

(In millions of U.S. dollars)

								Est.
				1990	1991	1992	1993	1994
Trade balance				211	195	586	1,462	1,395
	Exports, f.o.b.			1,317	1,598	1,908	2,597	2,708
		Mineral		913	1,172	1,515	1,900	1,826
		Nonmineral		404	426	393	697	882
	Imports, f.o.b.			-1,106	-1,404	-1,322	-1,135	-1,313
		Mineral		-260	-454	-365	-192	-291
		Nonmineral		-847	-950	-957	-943	-1,023
Services and transfers				-303	-346	-625	-932	-834
	Net services			-421	-606	-818	-975	-846
	Transfers			119	259	193	43	12
Current account				-92	-152	-39	530	561
	Mineral			472	379	605	1,121	1,114
	Nonmineral			-564	-531	-644	-591	-553
Capital account				44	66	-31	-636	-642
	Official			31	-56	59	54	-102
		Concessional (net)		121	18	53	8	-13
		Commercial (net)		-90	-74	6	46	-89
	Private			14	122	-90	-690	-540
		Commercial banks (net)		-23	-2	-35	-109	-7
		Other ^1/		37	124	-55	-581	-533
			Mineral	…	…	…	-580	-575
			Nonmineral	…	…	…	-1	42
Errors and omissions				…	…	…	8	0
Overall balance				-48	-85	-70	-98	-81
	Mineral			…	…	…	489	539
	Nonmineral			…	…	…	-587	-620
Change in net official reserves				48	85	70	98	81
Change in liabilities of BPNG
	IMF net			54	0	0	-15	-31
		Purchases		54	0	0	0	0
		Repurchases		0	0	0	15	31
	Other			0	12	-7	0	76
Reserves (increase-)				-6	73	77	113	35
Residual financing gap ^2/				0	0	0	0	0
Memorandum items:
	Gross reserves (end of year)			397	324	247	141	96
		Months of nonmineral imports		5.6	4.1	3.1	1.8	1.3
	Current account/GDP			-2.9	-4.0	-0.9	10.3	10.4
	Nonmineral current account/GDP			-17.5	-14.0	-15.0	-11.5	-10.3
	Debt-service ratio			28	25	23	32	30
	Debt/GDP ratio			77	70	78	57	43

Sources: Data provided by the Papua New Guinea authorities; and staff estimates.

^{^1/}Includes errors and omissions in 1990-92.

^{^2/}Excluding purchases from the IMF.

Table 5.

Papua New Guinea: Gross Domestic Product by Expenditure at Current Market Prices, 1990-93

(In millions of kina)

Source: Data provided by the Papua New Guinea authorities.

Table 5.

Papua New Guinea: Gross Domestic Product by Expenditure at Current Market Prices, 1990-93

(In millions of kina)

			1990	1991	1992	1993
Consumption			2,580	2,974	3,189	3,599
	Private		1,816	2,166	2,260	2,581
	Government		764	808	930	1,018
Gross investment			752	988	1,121	894
	Gross fixed capital formation		773	1,010	984	943
	Change in stocks		-21	-22	137	-49
Domestic demand			3,332	3,962	4,310	4,493
Exports of goods and nonfactor services			1,250	1,524	1,870	2,516
Less:
	Imports of goods and nonfactor services		1,506	1,881	2,040	1,993
Gross domestic product			3,076	3,605	4,140	5,016
	(Percent change)		(1.0)	(17.2)	(14.8)	(21.2)
		Market GDP	2,610	3,096	3,617	4,481
		Nonmarket GDP	466	509	523	536
Memorandum item:
	GDP deflator (1983=100)		131	140	144	149

Source: Data provided by the Papua New Guinea authorities.

Table 5.

Papua New Guinea: Gross Domestic Product by Expenditure at Current Market Prices, 1990-93

(In millions of kina)

			1990	1991	1992	1993
Consumption			2,580	2,974	3,189	3,599
	Private		1,816	2,166	2,260	2,581
	Government		764	808	930	1,018
Gross investment			752	988	1,121	894
	Gross fixed capital formation		773	1,010	984	943
	Change in stocks		-21	-22	137	-49
Domestic demand			3,332	3,962	4,310	4,493
Exports of goods and nonfactor services			1,250	1,524	1,870	2,516
Less:
	Imports of goods and nonfactor services		1,506	1,881	2,040	1,993
Gross domestic product			3,076	3,605	4,140	5,016
	(Percent change)		(1.0)	(17.2)	(14.8)	(21.2)
		Market GDP	2,610	3,096	3,617	4,481
		Nonmarket GDP	466	509	523	536
Memorandum item:
	GDP deflator (1983=100)		131	140	144	149

Source: Data provided by the Papua New Guinea authorities.

Table 6.

Papua New Guinea: Gross Domestic Product by Expenditure at Constant 1983 Prices, 1990-93

Source: Data provided by the Papua New Guinea authorities.

Table 6.

Papua New Guinea: Gross Domestic Product by Expenditure at Constant 1983 Prices, 1990-93

		1990	1991	1992	1993
		(In millions of kina)
Consumption		1,820	1,962	2,018	2,215
	Private	1,287	1,435	1,438	1,610
	Government	533	527	580	605
Gross investment		516	635	721	534
	Gross fixed capital formation	533	653	612	571
	Change in stocks	-17	-18	109	-37
Domestic demand		2,336	2,596	2,740	2,750
Exports of goods and nonfactor services		928	1,075	1,306	1,714
Less:
	Imports of goods and nonfactor services	913	1,097	1,167	1,108
Gross domestic product		2,351	2,575	2,879	3,356
	Market GDP	1,997	2,213	2,508	2,976
	Nonmarket GDP	354	362	371	380
		(Percent change)
Consumption		-10.6	7.8	2.9	9.8
	Private	-13.4	11.5	0.2	12.0
	Government	-2.9	-1.1	10.1	4.3
Gross fixed capital formation		-9.1	22.6	-6.3	-6.8
Domestic demand		-8.3	11.1	5.5	0.4
Exports of goods and nonfactor services		-4.6	15.8	21.5	31.3
Imports of goods and nonfactor services		-16.7	20.1	6.3	-5.0
Gross domestic product		-3.0	9.5	11.8	16.6
	Market GDP	-4.0	10.8	13.3	18.7
	Nonmarket GDP	3.5	2.3	2.5	2.4

Source: Data provided by the Papua New Guinea authorities.

Table 6.

Papua New Guinea: Gross Domestic Product by Expenditure at Constant 1983 Prices, 1990-93

		1990	1991	1992	1993
		(In millions of kina)
Consumption		1,820	1,962	2,018	2,215
	Private	1,287	1,435	1,438	1,610
	Government	533	527	580	605
Gross investment		516	635	721	534
	Gross fixed capital formation	533	653	612	571
	Change in stocks	-17	-18	109	-37
Domestic demand		2,336	2,596	2,740	2,750
Exports of goods and nonfactor services		928	1,075	1,306	1,714
Less:
	Imports of goods and nonfactor services	913	1,097	1,167	1,108
Gross domestic product		2,351	2,575	2,879	3,356
	Market GDP	1,997	2,213	2,508	2,976
	Nonmarket GDP	354	362	371	380
		(Percent change)
Consumption		-10.6	7.8	2.9	9.8
	Private	-13.4	11.5	0.2	12.0
	Government	-2.9	-1.1	10.1	4.3
Gross fixed capital formation		-9.1	22.6	-6.3	-6.8
Domestic demand		-8.3	11.1	5.5	0.4
Exports of goods and nonfactor services		-4.6	15.8	21.5	31.3
Imports of goods and nonfactor services		-16.7	20.1	6.3	-5.0
Gross domestic product		-3.0	9.5	11.8	16.6
	Market GDP	-4.0	10.8	13.3	18.7
	Nonmarket GDP	3.5	2.3	2.5	2.4

Source: Data provided by the Papua New Guinea authorities.

Table 7.

Papua New Guinea: Contribution to GDP by Sectors at Current Market Prices, 1990-94

(In millions of kina)

Source: Data provided by the Papua New Guinea authorities.

Table 7.

Papua New Guinea: Contribution to GDP by Sectors at Current Market Prices, 1990-94

(In millions of kina)

							Est.
			1990	1991	1992	1993	1994
Agriculture, hunting, forestry, and fishing			891	936	1,021	1,335	1,485
Mining and quarrying			452	613	656	635	750
Petroleum			0	0	269	746	679
Manufacturing			276	345	390	411	423
Electricity and other utilities			52	59	65	66	73
Construction			155	224	211	190	219
Commerce			297	358	387	417	437
Transport and storage			191	243	234	261	262
Finance and real estate			23	37	45	46	51
Community and social services (Including defense)			551	588	650	711	785
Import duties			188	201	213	198	246
Gross domestic product			3,076	3,605	4,140	5,016	5,410
	Of which:
		Nonmining GDP	2,624	2,992	3,215	3,636	3,981

Source: Data provided by the Papua New Guinea authorities.

Table 7.

Papua New Guinea: Contribution to GDP by Sectors at Current Market Prices, 1990-94

(In millions of kina)

							Est.
			1990	1991	1992	1993	1994
Agriculture, hunting, forestry, and fishing			891	936	1,021	1,335	1,485
Mining and quarrying			452	613	656	635	750
Petroleum			0	0	269	746	679
Manufacturing			276	345	390	411	423
Electricity and other utilities			52	59	65	66	73
Construction			155	224	211	190	219
Commerce			297	358	387	417	437
Transport and storage			191	243	234	261	262
Finance and real estate			23	37	45	46	51
Community and social services (Including defense)			551	588	650	711	785
Import duties			188	201	213	198	246
Gross domestic product			3,076	3,605	4,140	5,016	5,410
	Of which:
		Nonmining GDP	2,624	2,992	3,215	3,636	3,981

Source: Data provided by the Papua New Guinea authorities.

Table 8.

Papua New Guinea: Contribution to GDP by Sector at Constant 1983 Prices, 1990-94

(In millions of kina)

Source: Data provided by the Papua New Guinea authorities.

Table 8.

Papua New Guinea: Contribution to GDP by Sector at Constant 1983 Prices, 1990-94

(In millions of kina)

							Est.
			1990	1991	1992	1993	1994
Agriculture, hunting, forestry, and fishing			803	782	829	908	957
Mining and quarrying			277	393	427	407	413
Petroleum			0	0	187	589	558
Manufacturing			193	224	242	246	246
Electricity and other utilities			37	39	40	39	42
Construction			109	145	133	116	130
Commerce			265	296	310	322	328
Transport and storage			134	158	148	159	155
Finance and real estate			17	25	28	28	30
Community and social services (Including defense)			385	382	402	424	455
Import duties			131	131	133	118	143
Gross domestic product			2,351	2,575	2,879	3,356	3,457
	Of which:
		Nonmining GDP	2,073	2,181	2,265	2,360	2,486

Source: Data provided by the Papua New Guinea authorities.

Table 8.

Papua New Guinea: Contribution to GDP by Sector at Constant 1983 Prices, 1990-94

(In millions of kina)

							Est.
			1990	1991	1992	1993	1994
Agriculture, hunting, forestry, and fishing			803	782	829	908	957
Mining and quarrying			277	393	427	407	413
Petroleum			0	0	187	589	558
Manufacturing			193	224	242	246	246
Electricity and other utilities			37	39	40	39	42
Construction			109	145	133	116	130
Commerce			265	296	310	322	328
Transport and storage			134	158	148	159	155
Finance and real estate			17	25	28	28	30
Community and social services (Including defense)			385	382	402	424	455
Import duties			131	131	133	118	143
Gross domestic product			2,351	2,575	2,879	3,356	3,457
	Of which:
		Nonmining GDP	2,073	2,181	2,265	2,360	2,486

Source: Data provided by the Papua New Guinea authorities.

Table 9.

Papua New Guinea: Production of Major Export Crops, 1990-94

(In metric tons)

Source: Data provided by the Papua New Guinea authorities.

Table 9.

Papua New Guinea: Production of Major Export Crops, 1990-94

(In metric tons)

			1990	1991	1992	1993	1994
							Est.
Coffee
	Smallholders		41,220	33,420	38,460	42,530	46,800
	Plantations		15,000	12,060	18,060	17,570	18,200
		Total	56,220	45,480	56,520	60,100	65,000
Cocoa
	Smallholders		20,723	19,600	21,569	23,110	15,600
	Plantations		11,657	13,300	14,610	14,290	10,400
		Total	32,380	32,900	36,179	37,400	26,000
Copra
	Smallholders		73,600	56,031	74,698	78,200	73,000
	Plantations		41,400	31,517	42,010	44,918	43,000
		Total	115,000	87,548	116,708	123,118	116,000
Rubber
	Smallholders		1,068	938	950	790	1,200
	Plantations		2,155	1,834	1,650	1,470	2,200
		Total	3,223	2,772	2,600	2,260	3,400
Tea (Plantations)			5,800	5,800	5,800	3,440	3,400
Palm oil
	Smallholders		56,335	64,729	78,009	96,700	96,000
	Plantations		84,825	102,741	124,100	145,300	135,000
		Total	141,160	67,470	202,109	242,000	231,000
Palm kernel
	Smallholders		17,462	14,102	18,986	18,942	21,600
	Plantations		18,918	21,234	24,055	25,109	26,400
		Total	36,380	35,336	43,041	44,051	48,000

Source: Data provided by the Papua New Guinea authorities.

Table 9.

Papua New Guinea: Production of Major Export Crops, 1990-94

(In metric tons)

			1990	1991	1992	1993	1994
							Est.
Coffee
	Smallholders		41,220	33,420	38,460	42,530	46,800
	Plantations		15,000	12,060	18,060	17,570	18,200
		Total	56,220	45,480	56,520	60,100	65,000
Cocoa
	Smallholders		20,723	19,600	21,569	23,110	15,600
	Plantations		11,657	13,300	14,610	14,290	10,400
		Total	32,380	32,900	36,179	37,400	26,000
Copra
	Smallholders		73,600	56,031	74,698	78,200	73,000
	Plantations		41,400	31,517	42,010	44,918	43,000
		Total	115,000	87,548	116,708	123,118	116,000
Rubber
	Smallholders		1,068	938	950	790	1,200
	Plantations		2,155	1,834	1,650	1,470	2,200
		Total	3,223	2,772	2,600	2,260	3,400
Tea (Plantations)			5,800	5,800	5,800	3,440	3,400
Palm oil
	Smallholders		56,335	64,729	78,009	96,700	96,000
	Plantations		84,825	102,741	124,100	145,300	135,000
		Total	141,160	67,470	202,109	242,000	231,000
Palm kernel
	Smallholders		17,462	14,102	18,986	18,942	21,600
	Plantations		18,918	21,234	24,055	25,109	26,400
		Total	36,380	35,336	43,041	44,051	48,000

Source: Data provided by the Papua New Guinea authorities.

Table 10.

Papua New Guinea: Expenditure on Commodity Price Support Schemes, 1990-94 ^1/

(In millions of kina)

Source: Bank of Papua New Guinea.

^{^1/}The staff have been unable to reconcile the data on expenditure on commodity price support schemes presented here with that in either the fiscal or the monetary accounts.

Table 10.

Papua New Guinea: Expenditure on Commodity Price Support Schemes, 1990-94 ^1/

(In millions of kina)

			Coffee	Cocoa	Copra	Palm Oil	Total
1990
	I		0.0	8.2	1.1	0.0	9.3
	II		0.0	3.7	2.2	0.3	6.2
	III		0.0	1.1	3.5	0.6	5.2
	IV		0.0	0.9	3.4	0.5	4.8
		Total	0.0	13.9	10.2	1.4	25.5
1991
	I		0.0	1.8	1.6	0.3	3.7
	II		0.0	3.8	3.0	0.6	7.4
	III		7.0	5.0	1.1	0.4	13.5
	IV		2.0	2.5	0.5	0.2	5.2
		Total	9.0	13.1	6.2	1.5	29.8
1992
	I		4.0	3.0	0.0	0.8	7.8
	II		6.0	4.0	0.0	0.3	10.3
	III		16.0	6.5	0.0	0.2	22.7
	IV		10.0	4.5	0.7	0.2	15.4
		Total	36.0	18.0	0.7	1.5	56.2
1993
	I		10.0	5.5	2.1	0.2	17.8
	II		16.0	7.5	3.7	0.5	27.7
	III		30.0	6.5	3.3	0.5	40.3
	IV		8.0	2.5	1.2	0.1	11.8
		Total	64.0	22.0	10.3	1.3	97.6
1994
	I		8.0	1.8	2.2	0.3	12.3
	II		10.0	4.5	0.8	0.2	15.5
	III		5.7	2.0	1.9	0.0	9.6
	IV		0.0	3.3	0.4	0.0	3.7
		Total	23.7	11.6	5.3	0.5	41.1

Source: Bank of Papua New Guinea.

^{^1/}The staff have been unable to reconcile the data on expenditure on commodity price support schemes presented here with that in either the fiscal or the monetary accounts.

Table 10.

Papua New Guinea: Expenditure on Commodity Price Support Schemes, 1990-94 ^1/

(In millions of kina)

			Coffee	Cocoa	Copra	Palm Oil	Total
1990
	I		0.0	8.2	1.1	0.0	9.3
	II		0.0	3.7	2.2	0.3	6.2
	III		0.0	1.1	3.5	0.6	5.2
	IV		0.0	0.9	3.4	0.5	4.8
		Total	0.0	13.9	10.2	1.4	25.5
1991
	I		0.0	1.8	1.6	0.3	3.7
	II		0.0	3.8	3.0	0.6	7.4
	III		7.0	5.0	1.1	0.4	13.5
	IV		2.0	2.5	0.5	0.2	5.2
		Total	9.0	13.1	6.2	1.5	29.8
1992
	I		4.0	3.0	0.0	0.8	7.8
	II		6.0	4.0	0.0	0.3	10.3
	III		16.0	6.5	0.0	0.2	22.7
	IV		10.0	4.5	0.7	0.2	15.4
		Total	36.0	18.0	0.7	1.5	56.2
1993
	I		10.0	5.5	2.1	0.2	17.8
	II		16.0	7.5	3.7	0.5	27.7
	III		30.0	6.5	3.3	0.5	40.3
	IV		8.0	2.5	1.2	0.1	11.8
		Total	64.0	22.0	10.3	1.3	97.6
1994
	I		8.0	1.8	2.2	0.3	12.3
	II		10.0	4.5	0.8	0.2	15.5
	III		5.7	2.0	1.9	0.0	9.6
	IV		0.0	3.3	0.4	0.0	3.7
		Total	23.7	11.6	5.3	0.5	41.1

Source: Bank of Papua New Guinea.

^{^1/}The staff have been unable to reconcile the data on expenditure on commodity price support schemes presented here with that in either the fiscal or the monetary accounts.

Table 11.

Papua New Guinea: Indices of Private Employment by Sector, 1990-94

Source: Bank of Papua New Guinea, Quarterly Economic Bulletin.

^{^1/}Excludes mining sector employment.

Table 11.

Papua New Guinea: Indices of Private Employment by Sector, 1990-94

							March	June	Sept.
			1990	1991	1992	1993	1994
			(June 1989 = 100)
Retail			87.8	86.2	85.4	83.9	82.4	87.6	91.7
Wholesale			87.3	81.4	86.2	83.9	80.0	93.0	94.0
Manufacturing			94.8	95.2	101.9	103.7	121.2	122.7	122.7
Building and construction			106.8	81.1	76.6	73.6	70.3	79.0	80.7
Transportation			111.5	104.4	94.1	90.7	95.3	99.8	94.1
Agriculture, forestry, and fisheries			89.0	89.2	97.4	95.1	91.7	100.1	107.7
Financial and business services			109.2	103.3	104.6	104.3	106.3	98.2	96.8
	Total ^1/		94.6	91.1	94.0	91.4	91.9	97.8	102.0
			(Percent change)
Retail			-13.2	-1.8	-0.9	-1.8	-1.8	6.6	8.0
Wholesale			-8.8	-6.8	5.9	-2.7	-3.4	15.0	11.0
Manufacturing			-3.8	0.4	7.0	1.8	23.3	25.3	13.8
Building and construction			0.6	-24.1	-5.5	-3.9	-6.0	7.6	9.8
Transportation			5.6	-6.4	-9.9	-3.6	5.5	15.6	3.4
Agriculture, forestry, and fisheries			-6.9	0.2	9.2	-2.4	1.9	0.4	14.6
Financial and business services			5.5	-5.4	1.3	-0.3	-1.1	-5.0	-5.8
	Total ^1/		-4.7	-3.7	3.2	-2.8	2.0	7.8	11.8
Memorandum items:
	Mining		100.7	99.8	107.3	106.4	101.0	100.7	99.8
		(Percent change)	-0.3	-0.9	7.5	-0.8	-1.4	-9.0	-9.4

Source: Bank of Papua New Guinea, Quarterly Economic Bulletin.

^{^1/}Excludes mining sector employment.

Table 11.

Papua New Guinea: Indices of Private Employment by Sector, 1990-94

							March	June	Sept.
			1990	1991	1992	1993	1994
			(June 1989 = 100)
Retail			87.8	86.2	85.4	83.9	82.4	87.6	91.7
Wholesale			87.3	81.4	86.2	83.9	80.0	93.0	94.0
Manufacturing			94.8	95.2	101.9	103.7	121.2	122.7	122.7
Building and construction			106.8	81.1	76.6	73.6	70.3	79.0	80.7
Transportation			111.5	104.4	94.1	90.7	95.3	99.8	94.1
Agriculture, forestry, and fisheries			89.0	89.2	97.4	95.1	91.7	100.1	107.7
Financial and business services			109.2	103.3	104.6	104.3	106.3	98.2	96.8
	Total ^1/		94.6	91.1	94.0	91.4	91.9	97.8	102.0
			(Percent change)
Retail			-13.2	-1.8	-0.9	-1.8	-1.8	6.6	8.0
Wholesale			-8.8	-6.8	5.9	-2.7	-3.4	15.0	11.0
Manufacturing			-3.8	0.4	7.0	1.8	23.3	25.3	13.8
Building and construction			0.6	-24.1	-5.5	-3.9	-6.0	7.6	9.8
Transportation			5.6	-6.4	-9.9	-3.6	5.5	15.6	3.4
Agriculture, forestry, and fisheries			-6.9	0.2	9.2	-2.4	1.9	0.4	14.6
Financial and business services			5.5	-5.4	1.3	-0.3	-1.1	-5.0	-5.8
	Total ^1/		-4.7	-3.7	3.2	-2.8	2.0	7.8	11.8
Memorandum items:
	Mining		100.7	99.8	107.3	106.4	101.0	100.7	99.8
		(Percent change)	-0.3	-0.9	7.5	-0.8	-1.4	-9.0	-9.4

Source: Bank of Papua New Guinea, Quarterly Economic Bulletin.

^{^1/}Excludes mining sector employment.

Table 12.

Papua New Guinea: Minimum Wage Rates, 1990-94

(In kina per week)

Source: Bank of Papua New Guinea, Quarterly Economic Bulletin.

^{^1/}In 1977 consumer prices.

^{^2/}Effective September 15, 1992, the rural and urban minimum wage rates were unified.

Table 12.

Papua New Guinea: Minimum Wage Rates, 1990-94

(In kina per week)

					Real Terms ^1/
		Rural	Urban	National ^2/	Rural	Urban	National ^2/
1990
	March	20.47	54.88		9.55	25.61
	September	21.08	56.53		9.48	25.42
1991
	March	21.71	58.23		9.35	25.07
	September	22.36	59.98		9.39	25.19
1992
	March	23.03	61.79		9.50	25.48
	September ^2/			22.96			9.31
1993
	March			23.72			9.32
	September			24.24			9.31
1994
	March			24.34			9.31
	June			24.19			9.31
	September			24.37			9.31
	December			26.14			9.31

Source: Bank of Papua New Guinea, Quarterly Economic Bulletin.

^{^1/}In 1977 consumer prices.

^{^2/}Effective September 15, 1992, the rural and urban minimum wage rates were unified.

Table 12.

Papua New Guinea: Minimum Wage Rates, 1990-94

(In kina per week)

					Real Terms ^1/
		Rural	Urban	National ^2/	Rural	Urban	National ^2/
1990
	March	20.47	54.88		9.55	25.61
	September	21.08	56.53		9.48	25.42
1991
	March	21.71	58.23		9.35	25.07
	September	22.36	59.98		9.39	25.19
1992
	March	23.03	61.79		9.50	25.48
	September ^2/			22.96			9.31
1993
	March			23.72			9.32
	September			24.24			9.31
1994
	March			24.34			9.31
	June			24.19			9.31
	September			24.37			9.31
	December			26.14			9.31

Source: Bank of Papua New Guinea, Quarterly Economic Bulletin.

^{^1/}In 1977 consumer prices.

^{^2/}Effective September 15, 1992, the rural and urban minimum wage rates were unified.

Table 13.

Papua New Guinea: Consumer Price Index by Commodity Group, 1990-95

Sources: Bank of Papua New Guinea, Quarterly Economic Bulletin: and data provided by the authorities.

Table 13.

Papua New Guinea: Consumer Price Index by Commodity Group, 1990-95

			Food	Drinks, Tobacco, and, Betal nut	Clothing and Footwear	Rents, Fuel, and Power	Household Equipment and Operations	Transportation and Communications	Misc.	Total
			(Quarterly average, 1977 = 100)
1990			207.5	254.1	161.7	180.7	187.4	294.5	186.9	220.7
	I		197.8	250.2	159.8	176.6	182.8	289.3	182.5	214.3
	II		206.4	252.8	160.9	180.7	186.5	292.8	186.0	219.6
	III		210.9	253.8	162.0	179.5	188.2	296.0	188.8	222.4
	IV		214.9	259.8	164.1	185.9	192.0	299.7	190.3	226.6
1991			223.6	272.1	173.0	183.9	199.2	316.7	197.2	236.1
	I		216.5	271.6	167.3	185.4	195.7	314.4	196.0	232.3
	II		221.6	269.6	171.6	182.6	197.0	317.2	197.0	234.5
	III		227.7	271.8	176.0	183.0	200.8	317.4	197.8	238.1
	IV		228.5	275.5	177.2	184.7	203.2	317.8	198.1	239.5
1992			230.9	286.2	183.4	187.1	211.2	335.8	201.5	246.3
	I		227.0	278.0	178.8	186.4	207.9	336.7	201.0	242.5
	II		229.0	281.5	182.3	186.5	212.3	336.5	201.1	244.5
	III		232.3	284.5	184.7	187.5	211.2	333.1	202.0	246.7
	IV		235.1	300.6	187.6	187.8	213.4	336.7	202.0	251.4
1993			236.5	321.1	188.3	193.5	214.3	349.7	205.1	258.5
	I		235.2	314.3	187.2	193.2	215.9	334.1	205.2	254.6
	II		234.7	314.9	188.3	193.6	215.2	342.7	205.1	255.7
	III		237.3	324.1	188.9	193.6	211.9	357.1	205.2	260.3
	IV		239.0	331.1	188.8	193.6	214.3	364.9	205.1	263.5
1994			240.9	334.7	191.8	194.7	218.6	383.3	179.3	265.9
	I		238.3	332.1	188.9	194.9	216.6	363.9	176.8	261.4
	II		236.8	323.2	189.9	194.5	217.0	369.3	177.6	259.8
	III		239.2	326.5	191.1	193.6	218.1	370.4	178.7	261.7
	IV		249.2	357.0	197.1	195.9	222.6	429.4	183.9	280.7
1995
	I		261.5	374.7	199.9	202.0	231.2	433.2	217.2	293.4
			(In percent)
Memorandum items:
	Weights:
		In total basket	40.9	20.0	6.2	7.2	5.3	13.0	7.5	100.0
		Direct imports	22.6	2.6	5.4	0.6	5.1	6.2	5.0	47.5

Sources: Bank of Papua New Guinea, Quarterly Economic Bulletin: and data provided by the authorities.

Table 13.

Papua New Guinea: Consumer Price Index by Commodity Group, 1990-95

			Food	Drinks, Tobacco, and, Betal nut	Clothing and Footwear	Rents, Fuel, and Power	Household Equipment and Operations	Transportation and Communications	Misc.	Total
			(Quarterly average, 1977 = 100)
1990			207.5	254.1	161.7	180.7	187.4	294.5	186.9	220.7
	I		197.8	250.2	159.8	176.6	182.8	289.3	182.5	214.3
	II		206.4	252.8	160.9	180.7	186.5	292.8	186.0	219.6
	III		210.9	253.8	162.0	179.5	188.2	296.0	188.8	222.4
	IV		214.9	259.8	164.1	185.9	192.0	299.7	190.3	226.6
1991			223.6	272.1	173.0	183.9	199.2	316.7	197.2	236.1
	I		216.5	271.6	167.3	185.4	195.7	314.4	196.0	232.3
	II		221.6	269.6	171.6	182.6	197.0	317.2	197.0	234.5
	III		227.7	271.8	176.0	183.0	200.8	317.4	197.8	238.1
	IV		228.5	275.5	177.2	184.7	203.2	317.8	198.1	239.5
1992			230.9	286.2	183.4	187.1	211.2	335.8	201.5	246.3
	I		227.0	278.0	178.8	186.4	207.9	336.7	201.0	242.5
	II		229.0	281.5	182.3	186.5	212.3	336.5	201.1	244.5
	III		232.3	284.5	184.7	187.5	211.2	333.1	202.0	246.7
	IV		235.1	300.6	187.6	187.8	213.4	336.7	202.0	251.4
1993			236.5	321.1	188.3	193.5	214.3	349.7	205.1	258.5
	I		235.2	314.3	187.2	193.2	215.9	334.1	205.2	254.6
	II		234.7	314.9	188.3	193.6	215.2	342.7	205.1	255.7
	III		237.3	324.1	188.9	193.6	211.9	357.1	205.2	260.3
	IV		239.0	331.1	188.8	193.6	214.3	364.9	205.1	263.5
1994			240.9	334.7	191.8	194.7	218.6	383.3	179.3	265.9
	I		238.3	332.1	188.9	194.9	216.6	363.9	176.8	261.4
	II		236.8	323.2	189.9	194.5	217.0	369.3	177.6	259.8
	III		239.2	326.5	191.1	193.6	218.1	370.4	178.7	261.7
	IV		249.2	357.0	197.1	195.9	222.6	429.4	183.9	280.7
1995
	I		261.5	374.7	199.9	202.0	231.2	433.2	217.2	293.4
			(In percent)
Memorandum items:
	Weights:
		In total basket	40.9	20.0	6.2	7.2	5.3	13.0	7.5	100.0
		Direct imports	22.6	2.6	5.4	0.6	5.1	6.2	5.0	47.5

Sources: Bank of Papua New Guinea, Quarterly Economic Bulletin: and data provided by the authorities.

Table 14.

Papua New Guinea: Central Government Revenue and Grants, 1990–95

Sources: Data provided by the Papua New Guinea authorities; and staff projections.

^{^1/}Mineral sector payments to the Mineral Resource Stabilization Fund not flowing into consolidated revenue.

^{^2/}Revenue collected by the Tax Office.

^{^3/}For 1994-95, includes asset rules (K 30 million and K 50 million, respectively.)

^{^4/}Interest on funds held in the Mineral Resource Stabilization Fund.

Table 14.

Papua New Guinea: Central Government Revenue and Grants, 1990–95

									Budget
				1990	1991	1992	1993	1994	1995
				(In millions of kina)
Tax revenue				600	624	763	979	1,124	1,181
	Tax on income and profits			316	337	445	613	636	605
		Personal income tax		186	206	236	189	194	230
		Company tax		95	90	92	110	109	104
		Dividend withholding tax		8	16	24	24	27	24
		Mineral Resource Stabilization Fund tax ^1/		0	0	67	260	272	210
		Other direct tax ^2/		27	25	27	30	34	37
	Excise tax			90	79	93	94	104	125
	Tax on international trade			194	208	224	272	384	451
		Import duties		181	190	198	198	247	281
		Export duties		13	18	26	74	137	170
Nontax revenue				167	187	167	150	158	201
	Property income			83	99	83	75	85	106
		Dividends		62	68	64	50	27	27
		Other ^3/		15	18	3	11	49	65
		Mineral Resource Stabilization Fund
			Dividends ^1/	0	6	7	8	4	0
			Interest ^4/	6	8	9	6	5	14
	Interest and fees from lending			21	20	20	10	5	10
	Other			63	68	64	65	69	85
Foreign grants				222	312	196	182	165	189
	Budgetary support			204	204	185	169	161	173
	Project grants			18	108	11	13	4	17
Total revenue and grants				989	1,123	1,126	1,311	1,447	1,571
				(In percent of GDP)
Tax revenue				19.5	17.3	18.4	19.5	20.8	19.6
	Tax on income and profit			10.3	9.3	10.8	12.2	11.8	10.1
	Excise tax			2.9	2.2	2.3	1.9	1.9	2.1
	Tax on international trade			6.3	5.8	5.4	5.4	7.1	7.5
Nontax revenue				5.4	5.2	4.0	3.0	2.9	3.3
	Property income			2.7	2.7	2.0	1.5	1.6	1.8
	Interest and fees from lending			0.7	0.6	0.5	0.2	0.1	0.2
	Other			2.0	1.9	1.5	1.3	1.3	1.4
Foreign grants				7.2	8.6	4.7	3.6	3.0	3.1
	Total revenue and grants			32.1	31.2	27.2	26.1	26.8	26.1
Memorandum items:
	Revenue from mineral sector			6	13	83	273	282	224
		(In percent of GDP)		(0.2)	(0.4)	(2.0)	(5.5)	(5.2)	(3.7)
	Revenue from nonmineral sector			761	798	847	856	1,001	1,158
		(In percent of GDP)		(24.7)	(22.1)	(20.5)	(17.1)	(18.5)	(19.2)

Sources: Data provided by the Papua New Guinea authorities; and staff projections.

^{^1/}Mineral sector payments to the Mineral Resource Stabilization Fund not flowing into consolidated revenue.

^{^2/}Revenue collected by the Tax Office.

^{^3/}For 1994-95, includes asset rules (K 30 million and K 50 million, respectively.)

^{^4/}Interest on funds held in the Mineral Resource Stabilization Fund.

Table 14.

Papua New Guinea: Central Government Revenue and Grants, 1990–95

								Budget
			1990	1991	1992	1993	1994	1995
			(In millions of kina)
Tax revenue			600	624	763	979	1,124	1,181
	Tax on income and profits		316	337	445	613	636	605
		Personal income tax	186	206	236	189	194	230
		Company tax	95	90	92	110	109	104
		Dividend withholding tax	8	16	24	24	27	24
		Mineral Resource Stabilization Fund tax ^1/	0	0	67	260	272	210
		Other direct tax ^2/	27	25	27	30	34	37
	Excise tax		90	79	93	94	104	125
	Tax on international trade		194	208	224	272	384	451

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