Papua New Guinea: Statistical Appendix

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Abstract

Table 1.

Papua New Guinea: Contribution to GDP by Sector at Current Market Prices, 1994-98

(In millions of kina)

Source: Bank of Papua New Guinea; and National Statistical Office.

Table 1.

Papua New Guinea: Contribution to GDP by Sector at Current Market Prices, 1994-98

(In millions of kina)

				1994	1995	1996	1997	Est. 1998
Agriculture, hunting, forestry, and fishing				1,532	1,693	1,832	1,872	1,885
Mining and quarrying				673	1,086	836	655	1,285
Petroleum				604	708	916	729	722
Manufacturing				454	497	603	648	693
Electricity and other utilities				73	80	90	92	104
Construction				237	196	384	361	458
Commerce				477	521	607	669	693
Transportation and storage				285	318	350	377	409
Finance and real estate				51	57	70	77	87
Community and social services
	(including defense)			807	859	884	963	971
Import duties				247	294	341	372	407
Gross domestic product				5,440	6,309	6,914	6,815	7,714
	(Percent change)			8.5	15.9	9.6	−1.4	13.2
		Ofwhich: Nonmining GDP		4,163	4,515	5,162	5,431	5,707
			(Percent change)	14.5	8.5	14.3	5.2	5.1

Source: Bank of Papua New Guinea; and National Statistical Office.

Table 1.

Papua New Guinea: Contribution to GDP by Sector at Current Market Prices, 1994-98

(In millions of kina)

				1994	1995	1996	1997	Est. 1998
Agriculture, hunting, forestry, and fishing				1,532	1,693	1,832	1,872	1,885
Mining and quarrying				673	1,086	836	655	1,285
Petroleum				604	708	916	729	722
Manufacturing				454	497	603	648	693
Electricity and other utilities				73	80	90	92	104
Construction				237	196	384	361	458
Commerce				477	521	607	669	693
Transportation and storage				285	318	350	377	409
Finance and real estate				51	57	70	77	87
Community and social services
	(including defense)			807	859	884	963	971
Import duties				247	294	341	372	407
Gross domestic product				5,440	6,309	6,914	6,815	7,714
	(Percent change)			8.5	15.9	9.6	−1.4	13.2
		Ofwhich: Nonmining GDP		4,163	4,515	5,162	5,431	5,707
			(Percent change)	14.5	8.5	14.3	5.2	5.1

Source: Bank of Papua New Guinea; and National Statistical Office.

Table 2.

Papua New Guinea: Contribution to GDP by Sector at Constant 1983 Prices, 1994-98

(In millions of kina)

Source: Bank of Papua New Guinea; National Statistical Office; and Fund staff estimates.

Table 2.

Papua New Guinea: Contribution to GDP by Sector at Constant 1983 Prices, 1994-98

(In millions of kina)

				1994	1995	1996	1997	Est. 1998
Agriculture, hunting, forestry, and fishing				950	970	1,029	985	923
Mining and quarrying				393	399	301	257	410
Petroleum				558	475	504	359	390
Manufacturing				262	259	298	314	313
Electricity and other utilities				41	42	44	44	47
Construction				135	101	171	158	187
Commerce				351	347	382	412	399
Transportation and storage				169	174	181	191	193
Finance and real estate				31	32	37	39	41
Community and social services
	(including defense)			472	455	420	440	397
Import duties				143	148	154	162	146
Gross domestic product				3,505	3,403	3,521	3,361	3,443
	(Percent change)			4.5	−2.9	3.5	−4.6	2.4
		Ofwhich: Nonmining GDP		2,554	2,529	2,716	2,745	2,644
			(Percentchange)	8.2	−1.0	7.4	1.0	−3.7

Source: Bank of Papua New Guinea; National Statistical Office; and Fund staff estimates.

Table 2.

Papua New Guinea: Contribution to GDP by Sector at Constant 1983 Prices, 1994-98

(In millions of kina)

				1994	1995	1996	1997	Est. 1998
Agriculture, hunting, forestry, and fishing				950	970	1,029	985	923
Mining and quarrying				393	399	301	257	410
Petroleum				558	475	504	359	390
Manufacturing				262	259	298	314	313
Electricity and other utilities				41	42	44	44	47
Construction				135	101	171	158	187
Commerce				351	347	382	412	399
Transportation and storage				169	174	181	191	193
Finance and real estate				31	32	37	39	41
Community and social services
	(including defense)			472	455	420	440	397
Import duties				143	148	154	162	146
Gross domestic product				3,505	3,403	3,521	3,361	3,443
	(Percent change)			4.5	−2.9	3.5	−4.6	2.4
		Ofwhich: Nonmining GDP		2,554	2,529	2,716	2,745	2,644
			(Percentchange)	8.2	−1.0	7.4	1.0	−3.7

Source: Bank of Papua New Guinea; National Statistical Office; and Fund staff estimates.

Table 3.

Papua New Guinea: Employment Classified by Sector, 1994-98

(June 1989 = 100)

Source: QuarterlyEconomicBulletin, Bank of Papua New Guinea, Table 10.6.

^{^1/}Not included in overall index; excludes subcontractors.

Table 3.

Papua New Guinea: Employment Classified by Sector, 1994-98

(June 1989 = 100)

						1998
		1994	1995	1996	1997	March Quarter	June Quarter
Retail		88.4	92.6	94.8	103.9	109.6	109.9
Wholesale		90.6	82.3	82.1	82.5	83.2	82.4
Manufacturing		120.1	110.2	114.7	119.2	119.3	114.8
Building and construction		77.8	69.6	89.4	85.8	73.6	72.7
Transportation		95.2	89.6	96.5	99.4	98	97.7
Agriculture, forestry, and fisheries		101.1	87.4	90.8	83.5	71.6	70.1
Financial and business services		102.3	111.0	116.1	127.3	135.6	134.4
Mining ^1/		104.9	112.2	116.2	113.9	114.4	137.8
	Total	98.1	93.5	100.5	100.4	95.1	93.6
	Total (percentage change)	7.3	−4.7	7.5	−0.1	−5.3	−1.6

Source: QuarterlyEconomicBulletin, Bank of Papua New Guinea, Table 10.6.

^{^1/}Not included in overall index; excludes subcontractors.

Table 3.

Papua New Guinea: Employment Classified by Sector, 1994-98

(June 1989 = 100)

						1998
		1994	1995	1996	1997	March Quarter	June Quarter
Retail		88.4	92.6	94.8	103.9	109.6	109.9
Wholesale		90.6	82.3	82.1	82.5	83.2	82.4
Manufacturing		120.1	110.2	114.7	119.2	119.3	114.8
Building and construction		77.8	69.6	89.4	85.8	73.6	72.7
Transportation		95.2	89.6	96.5	99.4	98	97.7
Agriculture, forestry, and fisheries		101.1	87.4	90.8	83.5	71.6	70.1
Financial and business services		102.3	111.0	116.1	127.3	135.6	134.4
Mining ^1/		104.9	112.2	116.2	113.9	114.4	137.8
	Total	98.1	93.5	100.5	100.4	95.1	93.6
	Total (percentage change)	7.3	−4.7	7.5	−0.1	−5.3	−1.6

Source: QuarterlyEconomicBulletin, Bank of Papua New Guinea, Table 10.6.

^{^1/}Not included in overall index; excludes subcontractors.

Table 4.

Papua New Guinea: Consumer Price Index by Commodity Group, 1994-98

Source: Quarterly Economic Bulletin, Bank of Papua New Guinea, Table 10.3.

^{^1/}Weights are based on the 1977 expenditure survey.

Table 4.

Papua New Guinea: Consumer Price Index by Commodity Group, 1994-98

							Household	Transportation and
				Drinks, Tobacco,	Clothing and	Rents, Fuel,	Equipment		Miscellaneous
			Food	and Betelnut	Footwear	and Power	and Operations	Communications		Total
						(1977 = 100)
1994			240.9	334.7	191.8	194.7	218.6	383.2	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	216.7
	IV		249.2	357.0	197.1	195.9	222.6	429.4	183.9	280.7
1995			284.3	374.1	209.2	204.2	249.2	485.4	230.1	311.9
	I		261.5	374.7	199.9	202.0	231.2	433.2	217.2	293.4
	II		274.6	350.4	206.4	202.4	244.2	459.9	220.3	298.5
	III		294.6	368.5	210.3	205.9	253.8	533.9	239.5	322.3
	IV		306.4	402.8	220.2	206.3	267.6	514.7	243.4	333.2
1996
	I		315.9	399.7	226.1	208.5	276.9	546.7	281.5	344.4
	II		321.6	390.9	229.7	211.7	280.4	546.7	285.4	345.9
	III		329.3	397.6	236.4	211.5	284.2	548.0	289.3	351.4
	IV		326.6	417.9	239.0	210.3	285.8	517.5	290.3	350.8
1997
	I		329.8	424.6	247.7	215.4	284.8	496.6	325.4	354.2
	II		341.4	422.0	249.6	217.5	289.9	494.4	327.0	358.8
	III		351.4	426.6	255.6	218.9	298.2	495.3	326.9	364.9
	IV		354.1	442.4	257.3	217.7	302.1	495.1	328.5	369.5
1998
	I		363.8	468.9	278.1	213.5	309.9	537.9	288.9	382.7
	II		376.7	469.7	278.2	213.5	324.4	561.5	298.7	392.6
	III		404.8	510.4	287.8	216.6	346.6	589.8	308.2	418.7
	IV		415.3	613.4	300.5	222.3	367.6	615.3	318.5	450.1
						(In percent)
Memorandum item:
	Weights ^1/
		In total basket	40.9	20.0	6.2	7.2	5.3	13.0	7.5	100.0

Source: Quarterly Economic Bulletin, Bank of Papua New Guinea, Table 10.3.

^{^1/}Weights are based on the 1977 expenditure survey.

Table 4.

Papua New Guinea: Consumer Price Index by Commodity Group, 1994-98

							Household	Transportation and
				Drinks, Tobacco,	Clothing and	Rents, Fuel,	Equipment		Miscellaneous
			Food	and Betelnut	Footwear	and Power	and Operations	Communications		Total
						(1977 = 100)
1994			240.9	334.7	191.8	194.7	218.6	383.2	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	216.7
	IV		249.2	357.0	197.1	195.9	222.6	429.4	183.9	280.7
1995			284.3	374.1	209.2	204.2	249.2	485.4	230.1	311.9
	I		261.5	374.7	199.9	202.0	231.2	433.2	217.2	293.4
	II		274.6	350.4	206.4	202.4	244.2	459.9	220.3	298.5
	III		294.6	368.5	210.3	205.9	253.8	533.9	239.5	322.3
	IV		306.4	402.8	220.2	206.3	267.6	514.7	243.4	333.2
1996
	I		315.9	399.7	226.1	208.5	276.9	546.7	281.5	344.4
	II		321.6	390.9	229.7	211.7	280.4	546.7	285.4	345.9
	III		329.3	397.6	236.4	211.5	284.2	548.0	289.3	351.4
	IV		326.6	417.9	239.0	210.3	285.8	517.5	290.3	350.8
1997
	I		329.8	424.6	247.7	215.4	284.8	496.6	325.4	354.2
	II		341.4	422.0	249.6	217.5	289.9	494.4	327.0	358.8
	III		351.4	426.6	255.6	218.9	298.2	495.3	326.9	364.9
	IV		354.1	442.4	257.3	217.7	302.1	495.1	328.5	369.5
1998
	I		363.8	468.9	278.1	213.5	309.9	537.9	288.9	382.7
	II		376.7	469.7	278.2	213.5	324.4	561.5	298.7	392.6
	III		404.8	510.4	287.8	216.6	346.6	589.8	308.2	418.7
	IV		415.3	613.4	300.5	222.3	367.6	615.3	318.5	450.1
						(In percent)
Memorandum item:
	Weights ^1/
		In total basket	40.9	20.0	6.2	7.2	5.3	13.0	7.5	100.0

Source: Quarterly Economic Bulletin, Bank of Papua New Guinea, Table 10.3.

^{^1/}Weights are based on the 1977 expenditure survey.

Table 5.

Papua New Guinea: Summary of Central Government Operations, 1994-99

(In millions of kina)

Source: Department of Treasury and Planning; and Fund staff estimates.

^{^1/}Receipts from asset sales are included in nontax revenues through 1998, but they are treated as domestic financing in the official classification adopted for the 1999 Budget. For 1998, K 50 million paid by PNGBC for the acquisition of MVTT is excluded from nontax revenues.

^{^2/}Excludes Australian project assistance prior to 1997.

^{^3/}Retrenchment payments included in wages for 1999, and in other expenditures in prior years.

^{^4/}Excluding interest payments and, for 1999, excluding retrenchment payments.

^{^5/}Before 1996, proxied by item “construction and maintenance” in old budget presentation.

Table 5.

Papua New Guinea: Summary of Central Government Operations, 1994-99

(In millions of kina)

						1994	1995	1996	1997	Budget Est. 1998		Budget 1999
Total revenue and grants						1,446	1,702	1,898	2,202	2,411	2,316	2,485
	Classification by sector
		Mineral revenue				281	282	424	451	376	312	416
		Nonmineral revenue				1,002	1,203	1,303	1,439	1,585	1,541	1,608
	Classification by source
		Tax revenue				1,124	1,208	1,526	1,675	1,673	1,582	1,762
				Mineral sector		272	257	405	390	298	241	340
				Other		852	951	1,121	1,285	1,375	1,341	1,422
		Nontax revenue ^1/				159	259	201	215	289	271	262
		Foreign grants ^2/				163	236	170	312	450	463	461
Total expenditure						1,572	1,756	1,861	2,192	2,500	2,449	2,630
	Recurrent expenditure					1,445	1,519	1,608	1,820	1,964	1,914	1,768
			Classification by category
					Wages and salaries ^3/	440	590	604	655	655	673	655
					Interest payments	185	273	257	298	466	330	401
					Others ^3/	820	656	747	867	843	911	712
			Classification by spending unit ^4/
					National departments	676	782	720	820	771	−	713
					Provincial	347	335	526	585	615	−	500
					Others	237	128	105	117	113	−	90
	Development expenditure ^2/^5/					127	231	253	373	536	536	862
Overall balance						−126	−54	37	10	−89	−133	−145
Financing						126	54	37	10	89	133	145
	Foreign borrowing (net)					−118	−44	11	−73	103	−96	85
			Concessional			−11	−38	29	20	−30	−7	−1
					New borrowing	44	56	119	100	104	124	161
					Amortization	−55	−93	−89	−80	−134	−131	−162
			Commercial			−107	−130	−36	−127	−59	−89	−136
					New borrowing	0	0	0	0	0	0	0
					Amortization	−107	−130	−36	−127	−59	−89	−136
			Exceptional financing			0	124	17	34	192	0	222
	Do		Domestic financing (net) ^1/			244	98	−48	64	−15	229	60

Source: Department of Treasury and Planning; and Fund staff estimates.

^{^2/}Excludes Australian project assistance prior to 1997.

^{^3/}Retrenchment payments included in wages for 1999, and in other expenditures in prior years.

^{^4/}Excluding interest payments and, for 1999, excluding retrenchment payments.

^{^5/}Before 1996, proxied by item “construction and maintenance” in old budget presentation.

Table 5.

Papua New Guinea: Summary of Central Government Operations, 1994-99

(In millions of kina)

						1994	1995	1996	1997	Budget Est. 1998		Budget 1999
Total revenue and grants						1,446	1,702	1,898	2,202	2,411	2,316	2,485
	Classification by sector
		Mineral revenue				281	282	424	451	376	312	416
		Nonmineral revenue				1,002	1,203	1,303	1,439	1,585	1,541	1,608
	Classification by source
		Tax revenue				1,124	1,208	1,526	1,675	1,673	1,582	1,762
				Mineral sector		272	257	405	390	298	241	340
				Other		852	951	1,121	1,285	1,375	1,341	1,422
		Nontax revenue ^1/				159	259	201	215	289	271	262
		Foreign grants ^2/				163	236	170	312	450	463	461
Total expenditure						1,572	1,756	1,861	2,192	2,500	2,449	2,630
	Recurrent expenditure					1,445	1,519	1,608	1,820	1,964	1,914	1,768
			Classification by category
					Wages and salaries ^3/	440	590	604	655	655	673	655
					Interest payments	185	273	257	298	466	330	401
					Others ^3/	820	656	747	867	843	911	712
			Classification by spending unit ^4/
					National departments	676	782	720	820	771	−	713
					Provincial	347	335	526	585	615	−	500
					Others	237	128	105	117	113	−	90
	Development expenditure ^2/^5/					127	231	253	373	536	536	862
Overall balance						−126	−54	37	10	−89	−133	−145
Financing						126	54	37	10	89	133	145
	Foreign borrowing (net)					−118	−44	11	−73	103	−96	85
			Concessional			−11	−38	29	20	−30	−7	−1
					New borrowing	44	56	119	100	104	124	161
					Amortization	−55	−93	−89	−80	−134	−131	−162
			Commercial			−107	−130	−36	−127	−59	−89	−136
					New borrowing	0	0	0	0	0	0	0
					Amortization	−107	−130	−36	−127	−59	−89	−136
			Exceptional financing			0	124	17	34	192	0	222
	Do		Domestic financing (net) ^1/			244	98	−48	64	−15	229	60

Source: Department of Treasury and Planning; and Fund staff estimates.

^{^2/}Excludes Australian project assistance prior to 1997.

^{^3/}Retrenchment payments included in wages for 1999, and in other expenditures in prior years.

^{^4/}Excluding interest payments and, for 1999, excluding retrenchment payments.

^{^5/}Before 1996, proxied by item “construction and maintenance” in old budget presentation.

Table 6.

Papua New Guinea: Central Government Revenue and Grants, 1994-99

(In millions of kina)

Sources: Papua New Guinea Department of Treasury and Planning; and Fund staff estimates.

Table 6.

Papua New Guinea: Central Government Revenue and Grants, 1994-99

(In millions of kina)

				1994	1995	1996	1997	Budget Est. 1998		Budget 1999
Tax revenue				1,124	1,207	1,526	1,675	1,673	1,582	1,762
	Taxes on income			636	677	912	1,004	969	1,005	1,037
		Individuals		194	258	317	368	399	447	431
		Companies		109	99	118	150	156	184	145
		Dividend withholding tax		27	28	34	34	36	42	43
		MRSF taxes		272	257	405	390	298	241	340
		Other direct		34	36	37	62	80	91	77
			Ofwhich: Gaming tax	0	0	0	18	22	23
	Excise tax			104	103	115	149	168	156	150
	Other indirect			0	0	1	0	0	0	1
	Taxes on international trade			384	427	498	521	536	421	465
		Import duties		247	294	341	372	441	390	435
		Export duties		137	133	157	149	95	31	30
	New tax initiatives			…	…	…	…	…	…	109
Nontax revenue ^1/				159	278	201	215	289	271	262
	Property income^1/			85	165	116	103	195	127	118
		Dividends		31	48	37	42	42	42	42
		Other ^1/		49	92	60	0	75	14	0
		MRSF dividend and other		10	25	19	61	78	71	76
			Dividends	4	0	0	17	5	17	20
			Other	5	25	19	44	73	54	56
	Interest and fees from lending			5	4	3	2	4	4	14
	Other nontax revenue			69	109	82	111	90	140	130
Foreign grants				163	237	170	312	450	463	461
	Budgetary support			…	184	165	133	114	122	73
	Project grants			…	53	6	179	336	342	388
Total revenue and grants				1,446	1,722	1,898	2,202	2,411	2,316	2,485

Sources: Papua New Guinea Department of Treasury and Planning; and Fund staff estimates.

Table 6.

Papua New Guinea: Central Government Revenue and Grants, 1994-99

(In millions of kina)

				1994	1995	1996	1997	Budget Est. 1998		Budget 1999
Tax revenue				1,124	1,207	1,526	1,675	1,673	1,582	1,762
	Taxes on income			636	677	912	1,004	969	1,005	1,037
		Individuals		194	258	317	368	399	447	431
		Companies		109	99	118	150	156	184	145
		Dividend withholding tax		27	28	34	34	36	42	43
		MRSF taxes		272	257	405	390	298	241	340
		Other direct		34	36	37	62	80	91	77
			Ofwhich: Gaming tax	0	0	0	18	22	23
	Excise tax			104	103	115	149	168	156	150
	Other indirect			0	0	1	0	0	0	1
	Taxes on international trade			384	427	498	521	536	421	465
		Import duties		247	294	341	372	441	390	435
		Export duties		137	133	157	149	95	31	30
	New tax initiatives			…	…	…	…	…	…	109
Nontax revenue ^1/				159	278	201	215	289	271	262
	Property income^1/			85	165	116	103	195	127	118
		Dividends		31	48	37	42	42	42	42
		Other ^1/		49	92	60	0	75	14	0
		MRSF dividend and other		10	25	19	61	78	71	76
			Dividends	4	0	0	17	5	17	20
			Other	5	25	19	44	73	54	56
	Interest and fees from lending			5	4	3	2	4	4	14
	Other nontax revenue			69	109	82	111	90	140	130
Foreign grants				163	237	170	312	450	463	461
	Budgetary support			…	184	165	133	114	122	73
	Project grants			…	53	6	179	336	342	388
Total revenue and grants				1,446	1,722	1,898	2,202	2,411	2,316	2,485

Sources: Papua New Guinea Department of Treasury and Planning; and Fund staff estimates.

Table 7.

Papua New Guinea: Central Government Expenditure, 1995-99 ^1/

(In millions of kina)

Source: Papua New Guinea Department of Treasury and Planning; and Fund staff estimates.

^{^1/}Prior to 1995, expenditure was classified in a different format. It is not possible to meaningfully translate data prior to 1995 into the new format. See Papua New Guinea-Recent Economic Developments, January 9, 1998 (SM/98/4), Table 7a.

^{^2/}Any retrenchment costs prior to 1999 are classified in goods and services.

^{^3/}For 1999, includes retrenchment costs.

Table 7.

Papua New Guinea: Central Government Expenditure, 1995-99 ^1/

(In millions of kina)

			1995	1996	1997	Budget 1998	Est. 1998	Budget 1999
Recurrent expenditure			1,519	1,609	1,820	1,964	1,914	1,768
	National and statutory		910	826	938	883	948	803
		Salaries and wages	334	346	367	359	377	299
		Goods and services^2/	447	374	453	411	441	413
		Statutory authorities	127	112	120	118	135	95
		Net lending to CSAs	1	−6	−3	−5	−5	−5
	Provincial departments		335	525	585	615	636	500
		Salaries and wages	256	258	288	296	296	291
		Goods and services^2/	79	77	73	109	109	93
		Conditional grants	0	190	224	211	231	116
	Interest payments		273	257	298	466	330	401
		Domestic	179	175	206	343	225	238
		External	94	83	91	124	105	163
	Retrenchment costs ^2/		−				−	65
Development expenditure			238	253	373	536	536	862
	National and statutory		220	253	318	493	479	783
	Provinces		18	0	55	43	57	78
Total expenditure			1,757	1,861	2,192	2,500	2,449	2,630
Memorandum items:
	Total wages and salaries ^3/		591	604	655	655	673	655
	Total goods and services		526	451	526	520	550	507

Source: Papua New Guinea Department of Treasury and Planning; and Fund staff estimates.

^{^2/}Any retrenchment costs prior to 1999 are classified in goods and services.

^{^3/}For 1999, includes retrenchment costs.

Table 7.

Papua New Guinea: Central Government Expenditure, 1995-99 ^1/

(In millions of kina)

			1995	1996	1997	Budget 1998	Est. 1998	Budget 1999
Recurrent expenditure			1,519	1,609	1,820	1,964	1,914	1,768
	National and statutory		910	826	938	883	948	803
		Salaries and wages	334	346	367	359	377	299
		Goods and services^2/	447	374	453	411	441	413
		Statutory authorities	127	112	120	118	135	95
		Net lending to CSAs	1	−6	−3	−5	−5	−5
	Provincial departments		335	525	585	615	636	500
		Salaries and wages	256	258	288	296	296	291
		Goods and services^2/	79	77	73	109	109	93
		Conditional grants	0	190	224	211	231	116
	Interest payments		273	257	298	466	330	401
		Domestic	179	175	206	343	225	238
		External	94	83	91	124	105	163
	Retrenchment costs ^2/		−				−	65
Development expenditure			238	253	373	536	536	862
	National and statutory		220	253	318	493	479	783
	Provinces		18	0	55	43	57	78
Total expenditure			1,757	1,861	2,192	2,500	2,449	2,630
Memorandum items:
	Total wages and salaries ^3/		591	604	655	655	673	655
	Total goods and services		526	451	526	520	550	507

Source: Papua New Guinea Department of Treasury and Planning; and Fund staff estimates.

^{^2/}Any retrenchment costs prior to 1999 are classified in goods and services.

^{^3/}For 1999, includes retrenchment costs.

Table 8.

Papua New Guinea: Central Government Expenditure by Function, 1994-97 ^1/

(In millions of kina)

Source: Papua New Guinea Department of Treasury and Planning

^{^1/}Includes amortization payments.

Table 8.

Papua New Guinea: Central Government Expenditure by Function, 1994-97 ^1/

(In millions of kina)

	1994	1995	1996	Est. 1997
General government affairs	385	486	524	945
Community and social affairs	506	488	494	431
Economic affairs	306	358	359	354
Multifunctional	142	150	165	373
Public debt service ^1/	384	487	435	545
Total	1,722	1,969	1,977	2,648

Source: Papua New Guinea Department of Treasury and Planning

^{^1/}Includes amortization payments.

Table 8.

Papua New Guinea: Central Government Expenditure by Function, 1994-97 ^1/

(In millions of kina)

	1994	1995	1996	Est. 1997
General government affairs	385	486	524	945
Community and social affairs	506	488	494	431
Economic affairs	306	358	359	354
Multifunctional	142	150	165	373
Public debt service ^1/	384	487	435	545
Total	1,722	1,969	1,977	2,648

Source: Papua New Guinea Department of Treasury and Planning

^{^1/}Includes amortization payments.

Table 9.

Papua New Guinea: Mineral Resources Stabilization Fund, 1994-99

(In millions of kina)

Source: Data provided by the Papua New Guinea authorities.

^{^1/}Authorities’ estimates.

Table 9.

Papua New Guinea: Mineral Resources Stabilization Fund, 1994-99

(In millions of kina)

			1994	1995	1996	1997	Est.^1/ 1998	Budget 1999
Total receipts			282	282	424	451	321	416
	Company tax		273	257	405	391	250	340
	Dividends on government
		shareholdings	4	0	0	17	17	20
	Other receipts		5	25	19	44	54	56
Transfers to central
	government budget		213	170	195	287	330	416
Net change in fund balance			69	112	229	164	−9	0
Balance at end of period			190	302	531	695	686	686

Source: Data provided by the Papua New Guinea authorities.

^{^1/}Authorities’ estimates.

Table 9.

Papua New Guinea: Mineral Resources Stabilization Fund, 1994-99

(In millions of kina)

			1994	1995	1996	1997	Est.^1/ 1998	Budget 1999
Total receipts			282	282	424	451	321	416
	Company tax		273	257	405	391	250	340
	Dividends on government
		shareholdings	4	0	0	17	17	20
	Other receipts		5	25	19	44	54	56
Transfers to central
	government budget		213	170	195	287	330	416
Net change in fund balance			69	112	229	164	−9	0
Balance at end of period			190	302	531	695	686	686

Source: Data provided by the Papua New Guinea authorities.

^{^1/}Authorities’ estimates.

Table 10.

Papua New Guinea: Government Domestic Debt Outstanding, 1994-98 ^1/

(In millions of kina, unless otherwise indicated)

Source: Bank of Papua New Guinea, QuarterlyEconomicBulletin, Table 8.4.

^{^1/}Excluding arrears.

^{^2/}Including public authorities.

Table 10.

Papua New Guinea: Government Domestic Debt Outstanding, 1994-98 ^1/

(In millions of kina, unless otherwise indicated)

							1998
			1994	1995	1996	1997	Mar.	June	Sept.
Total			1,424	1,606	1,970	2,252	2,224	2,218	2,218
	(In percent of GDP)		25.7	24.9	28.3	33.6	−	−	−
By creditor
	Bank of Papua New Guinea		612	634	622	951	1,101	1,068	1,469
	Commercial banks		433	756	1,132	1,062	901	907	508
	Other financial institutions		64	56	75	77	64	64	76
	Commodity stabilization funds		194	0	0	0	0	0	0
	Other government agencies ^2/		0	0	5	22	25	28	28
	Superannuation funds		121	102	81	87	86	87	87
	Other		0	57	54	53	47	64	50
By instrument
	Long-term securities and loans		416	388	354	320	292	286	286
	Treasury bills		1,008	1,218	1,615	1,932	1,932	1,932	1,932
Balance of MRSF			190	302	531	696	662	616	614
Net domestic debt			1,234	1,304	1,438	1,555	1,562	1,602	1,604
	(In percent of GDP)		22.3	20.7	20.8	22.8	20.3	20.8	20.8
Memorandum items:
	Debt held outside BPNG		812	972	1,347	1,300	1,123	1,150	749
		(In percent of GDP)	14.7	15.4	19.5	19.1	14.6	14.9	9.7

Source: Bank of Papua New Guinea, QuarterlyEconomicBulletin, Table 8.4.

^{^1/}Excluding arrears.

^{^2/}Including public authorities.

Table 10.

Papua New Guinea: Government Domestic Debt Outstanding, 1994-98 ^1/

(In millions of kina, unless otherwise indicated)

							1998
			1994	1995	1996	1997	Mar.	June	Sept.
Total			1,424	1,606	1,970	2,252	2,224	2,218	2,218
	(In percent of GDP)		25.7	24.9	28.3	33.6	−	−	−
By creditor
	Bank of Papua New Guinea		612	634	622	951	1,101	1,068	1,469
	Commercial banks		433	756	1,132	1,062	901	907	508
	Other financial institutions		64	56	75	77	64	64	76
	Commodity stabilization funds		194	0	0	0	0	0	0
	Other government agencies ^2/		0	0	5	22	25	28	28
	Superannuation funds		121	102	81	87	86	87	87
	Other		0	57	54	53	47	64	50
By instrument
	Long-term securities and loans		416	388	354	320	292	286	286
	Treasury bills		1,008	1,218	1,615	1,932	1,932	1,932	1,932
Balance of MRSF			190	302	531	696	662	616	614
Net domestic debt			1,234	1,304	1,438	1,555	1,562	1,602	1,604
	(In percent of GDP)		22.3	20.7	20.8	22.8	20.3	20.8	20.8
Memorandum items:
	Debt held outside BPNG		812	972	1,347	1,300	1,123	1,150	749
		(In percent of GDP)	14.7	15.4	19.5	19.1	14.6	14.9	9.7

Source: Bank of Papua New Guinea, QuarterlyEconomicBulletin, Table 8.4.

^{^1/}Excluding arrears.

^{^2/}Including public authorities.

Table 11.

Papua New Guinea: Provincial Governments’ Budget Revenue, 1997-98

(In millions of kina)

Source: Papua New Guinea Department of Treasury and Planning.

^{^1/}From central government

Table 11.

Papua New Guinea: Provincial Governments’ Budget Revenue, 1997-98

(In millions of kina)

	1997			1998
Province	Grants ^1/	Internal	Total	Grants^1/	Internal	Total
Bougainville	227	1.7	24.4	19.0	1.7	20.7
Central	22.9	5.1	28.0	23.9	7.5	31.4
East New Britain	27.0	10.0	37.0	32.9	13.1	46.0
East Sepik	36.1	2.8	38.9	37.8	3.6	41.4
Eastern Highlands	39.5	10.0	49.5	42.6	5.9	48.5
Enga	39.8	5.8	45.6	36.7	9.6	46.3
Fly River	31.7	20.9	52.6	34.2	21.0	55.2
Gulf	19.9	1:9	21.8	20.8	4.0	24.8
Madang	32.4	5.2	37.6	36.1	14.7	50.8
Manus	9.4	2.1	11.5	10.9	1.6	12.5
Milne Bay	27.1	10.0	37.1	29.6	12.0	41.6
Morobe	50.9	24.3	75.2	54.3	33.3	87.6
New Ireland	21.1	5.6	26.7	23.8	9.6	33.4
National Capital District	16.9	57.2	74.1	15.6	60.0	75.6
Ore	18.1	7.9	26.0	19.1	2.8	21.9
Sandun (West Sepik)	21.4	2.9	24.3	23.9	3.6	27.5
Simbu	25.5	1.2	26.7	27.8	3.2	31.0
Southern Highlands	51.3	27.9	79.2	56.3	24.7	81.0
West New Britain	22.3	7.0	29.3	24.8	8.0	32.8
Western Highlands	41.5	12.7	54.2	44.4	12.0	56.4
Total	577.5	222.2	799.7	614.5	251.9	866.4

Source: Papua New Guinea Department of Treasury and Planning.

^{^1/}From central government

Table 11.

Papua New Guinea: Provincial Governments’ Budget Revenue, 1997-98

(In millions of kina)

	1997			1998
Province	Grants ^1/	Internal	Total	Grants^1/	Internal	Total
Bougainville	227	1.7	24.4	19.0	1.7	20.7
Central	22.9	5.1	28.0	23.9	7.5	31.4
East New Britain	27.0	10.0	37.0	32.9	13.1	46.0
East Sepik	36.1	2.8	38.9	37.8	3.6	41.4
Eastern Highlands	39.5	10.0	49.5	42.6	5.9	48.5
Enga	39.8	5.8	45.6	36.7	9.6	46.3
Fly River	31.7	20.9	52.6	34.2	21.0	55.2
Gulf	19.9	1:9	21.8	20.8	4.0	24.8
Madang	32.4	5.2	37.6	36.1	14.7	50.8
Manus	9.4	2.1	11.5	10.9	1.6	12.5
Milne Bay	27.1	10.0	37.1	29.6	12.0	41.6
Morobe	50.9	24.3	75.2	54.3	33.3	87.6
New Ireland	21.1	5.6	26.7	23.8	9.6	33.4
National Capital District	16.9	57.2	74.1	15.6	60.0	75.6
Ore	18.1	7.9	26.0	19.1	2.8	21.9
Sandun (West Sepik)	21.4	2.9	24.3	23.9	3.6	27.5
Simbu	25.5	1.2	26.7	27.8	3.2	31.0
Southern Highlands	51.3	27.9	79.2	56.3	24.7	81.0
West New Britain	22.3	7.0	29.3	24.8	8.0	32.8
Western Highlands	41.5	12.7	54.2	44.4	12.0	56.4
Total	577.5	222.2	799.7	614.5	251.9	866.4

Source: Papua New Guinea Department of Treasury and Planning.

^{^1/}From central government

Table 12.

Papua New Guinea: Financial Performance of Major Nonfinancial Public Enterprises, 1994-98

(In millions of kina)

Source: Data provided by the Papua New Guinea authorities.

^{^1/}Before tax and interest payments; minus sign denotes operating loss.

^{^2/}Rate of return on investment, defined as the ratio of operating profits to fixed assets.

Table 12.

Papua New Guinea: Financial Performance of Major Nonfinancial Public Enterprises, 1994-98

(In millions of kina)

		1994	1995	1996	1997	1998
Electricity Commission
	Revenue	101.5	109.8	109.1	106.7	116.5
	Costs	90.9	84.7	84.1	98.2	99.2
	Operating profit^1/	10.5	17.1	25.0	8.5	17.3
	ROI (percent)^2/	2.6	4.3	6.0	3.5	4.3
Air Niugini
	Revenue	154.8	179.7	200.0	206.4	206.0
	Costs	149.1	187.7	195.3	207.5	215.3
	Operating profit ^1/	5.7	−8.0	5.1	−1.2	−9.3
	ROI (percent) ^2/	3.9	−5.1	3.3	−0.7	−4.9
Harbours Board
	Revenue	24.3	24.8	28.3	30.1	24.8
	Costs	21.8	22.8	26.2	29.3	23.7
	Operating profit ^1/	2.5	2.0	2.1	0.8	0.8
	ROI (percent) ^2/	2.0	1.3	1.2	0.4	0.45

Source: Data provided by the Papua New Guinea authorities.

^{^1/}Before tax and interest payments; minus sign denotes operating loss.

^{^2/}Rate of return on investment, defined as the ratio of operating profits to fixed assets.

Table 12.

Papua New Guinea: Financial Performance of Major Nonfinancial Public Enterprises, 1994-98

(In millions of kina)

		1994	1995	1996	1997	1998
Electricity Commission
	Revenue	101.5	109.8	109.1	106.7	116.5
	Costs	90.9	84.7	84.1	98.2	99.2
	Operating profit^1/	10.5	17.1	25.0	8.5	17.3
	ROI (percent)^2/	2.6	4.3	6.0	3.5	4.3
Air Niugini
	Revenue	154.8	179.7	200.0	206.4	206.0
	Costs	149.1	187.7	195.3	207.5	215.3
	Operating profit ^1/	5.7	−8.0	5.1	−1.2	−9.3
	ROI (percent) ^2/	3.9	−5.1	3.3	−0.7	−4.9
Harbours Board
	Revenue	24.3	24.8	28.3	30.1	24.8
	Costs	21.8	22.8	26.2	29.3	23.7
	Operating profit ^1/	2.5	2.0	2.1	0.8	0.8
	ROI (percent) ^2/	2.0	1.3	1.2	0.4	0.45

Source: Data provided by the Papua New Guinea authorities.

^{^1/}Before tax and interest payments; minus sign denotes operating loss.

^{^2/}Rate of return on investment, defined as the ratio of operating profits to fixed assets.

Table 13.

Papua New Guinea: Monetary Survey, 1994-98

(In millions of kina; end of period)

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

^{^1/}Includes credit to the central government plus the commodity stabilization funds.

^{^2/}Includes credit to provincial governments and nonfinancial public enterprises.

Table 13.

Papua New Guinea: Monetary Survey, 1994-98

(In millions of kina; end of period)

						1997				1998
			1994	1995	1996	Mar.	June	Sept.	Dec.	Mar.	June	Sept.	Dec. (est.)
Net foreign assets			71	292	845	831	819	822	781	493	556	603	450
	Bank of Papua New Guinea		−7	209	716	693	690	643	589	308	401	414	322
	Commercial banks		79	83	129	138	129	179	192	185	155	189	128
Net domestic assets			1,552	1,554	1,587	1,636	1,607	1,661	1,817	2,085	2,096	2,130	2,195
	Domestic credit		1,751	1,776	1,891	1,904	1,968	1,988	2,320	2,500	2,682	2,700	2,787
		Credit to consolidated central government, net ^1/	749	805	912	841	833	843	1,054	1,049	1,076	978	1,155
		Credit to other sectors ^2/	1,001	972	980	1,063	1,135	1,145	1,266	1,451	1,606	1,721	1,632
	Other items (net)		−198	−222	−305	−268	−361	−327	−503	−415	−586	−570	−592
Broad money			1,624	1,845	2,432	2,467	2,426	2,483	2,598	2,578	2,652	2,733	2,645
	Narrow money		571	647	865	888	946	919	919	877	902	957
		Currency in circulation	166	182	657	709	718	707	695	680	670	693
		Demand deposits	405	465	208	178	228	213	225	197	232	264
	Quasi-money		1,052	1,198	1,567	1,579	1,480	1,563	1,679	1,701	1,749	1,776
		Savings deposits	270	273	312	294	324	330	330	308	322	330
		Time and foreign currency deposits	782	925	1,255	1,285	1,155	1,233	1,349	1,393	1,427	1,446	−

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

^{^1/}Includes credit to the central government plus the commodity stabilization funds.

^{^2/}Includes credit to provincial governments and nonfinancial public enterprises.

Table 13.

Papua New Guinea: Monetary Survey, 1994-98

(In millions of kina; end of period)

						1997				1998
			1994	1995	1996	Mar.	June	Sept.	Dec.	Mar.	June	Sept.	Dec. (est.)
Net foreign assets			71	292	845	831	819	822	781	493	556	603	450
	Bank of Papua New Guinea		−7	209	716	693	690	643	589	308	401	414	322
	Commercial banks		79	83	129	138	129	179	192	185	155	189	128
Net domestic assets			1,552	1,554	1,587	1,636	1,607	1,661	1,817	2,085	2,096	2,130	2,195
	Domestic credit		1,751	1,776	1,891	1,904	1,968	1,988	2,320	2,500	2,682	2,700	2,787
		Credit to consolidated central government, net ^1/	749	805	912	841	833	843	1,054	1,049	1,076	978	1,155
		Credit to other sectors ^2/	1,001	972	980	1,063	1,135	1,145	1,266	1,451	1,606	1,721	1,632
	Other items (net)		−198	−222	−305	−268	−361	−327	−503	−415	−586	−570	−592
Broad money			1,624	1,845	2,432	2,467	2,426	2,483	2,598	2,578	2,652	2,733	2,645
	Narrow money		571	647	865	888	946	919	919	877	902	957
		Currency in circulation	166	182	657	709	718	707	695	680	670	693
		Demand deposits	405	465	208	178	228	213	225	197	232	264
	Quasi-money		1,052	1,198	1,567	1,579	1,480	1,563	1,679	1,701	1,749	1,776
		Savings deposits	270	273	312	294	324	330	330	308	322	330
		Time and foreign currency deposits	782	925	1,255	1,285	1,155	1,233	1,349	1,393	1,427	1,446	−

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

^{^1/}Includes credit to the central government plus the commodity stabilization funds.

^{^2/}Includes credit to provincial governments and nonfinancial public enterprises.

Table 14.

Papua New Guinea: Balance Sheet of the Bank of Papua New Guinea, 1994-98

(In millions of kina; end of period)

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

^{^1/}Defined to comprise holdings of gold, foreign exchange, SDRs, and the reserve position in the Fund.

^{^2/}Excluding credit to, but including deposits of commodity stabilization funds.

^{^3/}In this treatment, commodity stabilization fund deposits are not netted out of credit to commercial banks, but out of credit to central government.

Table 14.

Papua New Guinea: Balance Sheet of the Bank of Papua New Guinea, 1994-98

(In millions of kina; end of period)

								1997				1998
					1994	1995	1996	Mar.	June	Sept.	Dec.	Mar.	June	Sept.	Dec. (est.)
Net international reserves					−7	208	716	693	690	643	589	308	401	414	322
	International reserves ^1/				112	357	789	769	768	719	667	383	475	490	406
	Foreign liabilities				−119	−149	−73	−76	−78	−75	−78	−74	−74	−76	−84
Net domestic credit					398	205	−23	−59	−128	−117	120	292	362	656	718
	Net credit to central government ^2/				115	−30	−253	−288	−357	−339	−97	124	201	506	596
		Credit			777	593	587	608	579	648	881	1,030	1,029	1,410	…
			Advances		0	0	0	45	63	158	0	0	0	0	…
			Government securities		777	593	587	563	516	491	881	1,030	1,029	1,410	…
		Deposits			−662	−623	−840	−897	−935	−987	−978	−906	−828	−904	…
			Mineral Resources Stabilization Fund		−190	−302	−531	−594	−622	−669	−696	−662	−616	−614	…
			Other		−472	−321	−309	−302	−313	−318	−281	−245	−212	−290	…
				Ofwhich: Commodity stabilization funds	…	…	−225	−225	−224	−216	−212	−164	−157	−145	−118
	Credit to commercial banks ^3/				283	234	229	228	228	220	217	169	161	149	122
		Commodity stabilization funds			261	230	227	226	225	218	214	166	158	147	119
		Other			22	4	2	2	2	2	3	2	3	2	3
	Credit to private sector				0	1	1	1	1	1	1	0	1	1	1
Other assets, net					−172	−162	−360	−326	−249	−230	−408	−325	436	−424	403
Reserve money					220	250	333	308	312	295	302	276	328	646	637
	Currency issued				209	223	254	230	284	262	276	237	279	305	…
		Currency in circulation			166	182	208	178	228	213	225	197	232	264	…
		Currency with banks			43	41	46	52	56	49	51	39	47	42	…
	Commercial bank deposits				10	27	79	78	28	34	26	40	49	341	…
		Ofwhich: Kina auction deposits			0	0	45	35	25	20	20	16	20	20	…

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

^{^1/}Defined to comprise holdings of gold, foreign exchange, SDRs, and the reserve position in the Fund.

^{^2/}Excluding credit to, but including deposits of commodity stabilization funds.

^{^3/}In this treatment, commodity stabilization fund deposits are not netted out of credit to commercial banks, but out of credit to central government.

Table 14.

Papua New Guinea: Balance Sheet of the Bank of Papua New Guinea, 1994-98

(In millions of kina; end of period)

								1997				1998
					1994	1995	1996	Mar.	June	Sept.	Dec.	Mar.	June	Sept.	Dec. (est.)
Net international reserves					−7	208	716	693	690	643	589	308	401	414	322
	International reserves ^1/				112	357	789	769	768	719	667	383	475	490	406
	Foreign liabilities				−119	−149	−73	−76	−78	−75	−78	−74	−74	−76	−84
Net domestic credit					398	205	−23	−59	−128	−117	120	292	362	656	718
	Net credit to central government ^2/				115	−30	−253	−288	−357	−339	−97	124	201	506	596
		Credit			777	593	587	608	579	648	881	1,030	1,029	1,410	…
			Advances		0	0	0	45	63	158	0	0	0	0	…
			Government securities		777	593	587	563	516	491	881	1,030	1,029	1,410	…
		Deposits			−662	−623	−840	−897	−935	−987	−978	−906	−828	−904	…
			Mineral Resources Stabilization Fund		−190	−302	−531	−594	−622	−669	−696	−662	−616	−614	…
			Other		−472	−321	−309	−302	−313	−318	−281	−245	−212	−290	…
				Ofwhich: Commodity stabilization funds	…	…	−225	−225	−224	−216	−212	−164	−157	−145	−118
	Credit to commercial banks ^3/				283	234	229	228	228	220	217	169	161	149	122
		Commodity stabilization funds			261	230	227	226	225	218	214	166	158	147	119
		Other			22	4	2	2	2	2	3	2	3	2	3
	Credit to private sector				0	1	1	1	1	1	1	0	1	1	1
Other assets, net					−172	−162	−360	−326	−249	−230	−408	−325	436	−424	403
Reserve money					220	250	333	308	312	295	302	276	328	646	637
	Currency issued				209	223	254	230	284	262	276	237	279	305	…
		Currency in circulation			166	182	208	178	228	213	225	197	232	264	…
		Currency with banks			43	41	46	52	56	49	51	39	47	42	…
	Commercial bank deposits				10	27	79	78	28	34	26	40	49	341	…
		Ofwhich: Kina auction deposits			0	0	45	35	25	20	20	16	20	20	…

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

^{^1/}Defined to comprise holdings of gold, foreign exchange, SDRs, and the reserve position in the Fund.

^{^2/}Excluding credit to, but including deposits of commodity stabilization funds.

^{^3/}In this treatment, commodity stabilization fund deposits are not netted out of credit to commercial banks, but out of credit to central government.

Table 15.

Papua New Guinea: Assets and Liabilities of Commercial Banks, 1994-98

(In millions of kina; end of period)

Source: Bank of Papua New Guinea; and Fund staff estimates.

^{^1/}Includes claims on provincial and local governments, public financial institutions, and the private sector.

^{^2/}Includes demand deposits of local and provincial governments and public enterprises.

Table 15.

Papua New Guinea: Assets and Liabilities of Commercial Banks, 1994-98

(In millions of kina; end of period)

						1997				1998
			1994	1995	1996	Mar.	June	Sept.	Dec.	Mar.	June	Sept.	Dec. (est.)
Reserves			53	70	125	129	84	83	77	79	96	383	…
	Notes and coins		43	43	46	52	56	49	51	39	47	42	…
	Deposits with BPNG		10	27	79	78	28	34	26	40	49	341	…
Net foreign assets			79	83	129	138	129	179	192	185	155	189	128
	Foreign assets		207	134	160	157	300	202	206	245	265	239	…
	Foreign liabilities		−128	−50	−31	−19	−171	−23	−14	−60	−110	−50	…
Net credit to central government			373	605	938	903	964	963	937	759	716	325	440
	Credit		446	728	1,105	1,076	1,156	1,159	1,108	945	940	579	…
		Short-term securities	408	715	1,100	1,063	1,132	1,151	1,099	937	931	579	…
		Long-term securities	19	0	0	10	21	8	8	8	8	0	…
		Loans	19	12	5	3	3	1	75	74	74	81	…
	Deposits		−73	−123	−167	−173	−192	−196	−171	−186	−223	−254	…
Other credit ^1/			1,262	1,201	1,205	1,288	1,360	1,362	1,480	1,617	1,764	1,868	1,750
	Commodity stabilization funds		261	230	226	226	225	218	214	166	158	147	119
	Other		1,001	971	979	1,062	1,135	1,144	1,265	1,451	1,606	1,721	1,632
Other assets (net)			−29	−66	−101	−81	−130	−118	−115	−108	−160	−153	…
Deposits			1,456	1,658	2,067	2,149	2,179	2,248	2,354	2,364	2,411	2,463	…
	Demand deposits ^2/		405	465	657	709	718	707	695	680	670	693	…
	Quasi-money		1,051	1,193	1,410	1,439	1,461	1,541	1,659	1,684	1,741	1,769	…
		Savings deposits	270	273	312	294	324	330	330	308	322	330	…
		Time deposits	677	817	963	1,004	982	1,039	1,135	1,190	1,238	1,266	…
		Foreign currency deposits	104	102	135	141	155	172	194	186	181	174	…
Borrowing from BPNG			283	234	229	228	228	220	216	168	160	149	122

Source: Bank of Papua New Guinea; and Fund staff estimates.

^{^1/}Includes claims on provincial and local governments, public financial institutions, and the private sector.

^{^2/}Includes demand deposits of local and provincial governments and public enterprises.

Table 15.

Papua New Guinea: Assets and Liabilities of Commercial Banks, 1994-98

(In millions of kina; end of period)

						1997				1998
			1994	1995	1996	Mar.	June	Sept.	Dec.	Mar.	June	Sept.	Dec. (est.)
Reserves			53	70	125	129	84	83	77	79	96	383	…
	Notes and coins		43	43	46	52	56	49	51	39	47	42	…
	Deposits with BPNG		10	27	79	78	28	34	26	40	49	341	…
Net foreign assets			79	83	129	138	129	179	192	185	155	189	128
	Foreign assets		207	134	160	157	300	202	206	245	265	239	…
	Foreign liabilities		−128	−50	−31	−19	−171	−23	−14	−60	−110	−50	…
Net credit to central government			373	605	938	903	964	963	937	759	716	325	440
	Credit		446	728	1,105	1,076	1,156	1,159	1,108	945	940	579	…
		Short-term securities	408	715	1,100	1,063	1,132	1,151	1,099	937	931	579	…
		Long-term securities	19	0	0	10	21	8	8	8	8	0	…
		Loans	19	12	5	3	3	1	75	74	74	81	…
	Deposits		−73	−123	−167	−173	−192	−196	−171	−186	−223	−254	…
Other credit ^1/			1,262	1,201	1,205	1,288	1,360	1,362	1,480	1,617	1,764	1,868	1,750
	Commodity stabilization funds		261	230	226	226	225	218	214	166	158	147	119
	Other		1,001	971	979	1,062	1,135	1,144	1,265	1,451	1,606	1,721	1,632
Other assets (net)			−29	−66	−101	−81	−130	−118	−115	−108	−160	−153	…
Deposits			1,456	1,658	2,067	2,149	2,179	2,248	2,354	2,364	2,411	2,463	…
	Demand deposits ^2/		405	465	657	709	718	707	695	680	670	693	…

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