Papua New Guinea: Statistical Appendix

This Article IV Consultation reports that the main challenge is to maintain macroeconomic stability in substantial demand shock from the construction of two major liquefied natural gas projects. The global downturn had only a mild impact, as growth was supported by still strong terms of trade, a financial sector insulated from global capital markets, and an increase in public expenditure. IMF staff stressed that monetary policy needed to be focused on emerging inflation pressures and act preemptively to avoid high inflation from becoming entrenched in expectations.

Abstract

Table 1.

Papua New Guinea: GDP by Sector at Current Market Prices, 2005–08

Sources: Treasury Department estimates for 2005 through 2008.

^{^1/}Sum of industries less imputed bank service charge, plus import duties less subsidies.

Table 1.

Papua New Guinea: GDP by Sector at Current Market Prices, 2005–08

				2005	2006	2007	2008
				(In millions of kina)
Nominal GDP ^1/				15,094	16,897	18,798	21,626
	Mineral			4,062	5,043	5,441	5,927
	Non-mineral			11,032	11,854	13,358	15,699
		Of which: Non-agricultural		6,013	6,527	7,456	8,790
	Agriculture, forestry and fishing			5,020	5,327	5,902	6,909
	Mining, quarrying, and petroleum			4,062	5,043	5,441	5,927
	Manufacturing			928	975	1,064	1,248
	Electricity, gas and water			301	338	362	404
	Construction			1,246	1,437	1,750	2,226
	Wholesale and retail trade			943	1,039	1,177	1,393
	Transport, storage and communication			317	326	364	440
	Financing, insurance, real estate and business services			489	579	639	760
	Less: Imputed bank service charge			316	391	240	240
	Community, social and personal services			1,447	1,527	1,635	1,819
	Import duties			661	700	707	742
	Less: Subsidies			4	4	3	3
				(In percent of GDP)
Memorandum items:
	Nominal GDP			100.0	100.0	100.0	100.0
		Mineral		26.9	29.8	28.9	27.4
		Non-mineral		73.1	70.2	71.1	72.6
			Of which: Non-agricultural	39.8	38.6	39.7	40.6
		Agriculture, forestry and fishing		33.3	31.5	31.4	31.9
		Mining, quarrying, and petroleum		26.9	29.8	28.9	27.4
		Manufacturing		6.1	5.8	5.7	5.8
		Electricity, gas and water		2.0	2.0	1.9	1.9
		Construction		8.3	8.5	9.3	10.3
		Wholesale and retail trade		6.2	6.1	6.3	6.4
		Transport, storage and communication		2.1	1.9	1.9	2.0
		Financing, insurance, real estate and business services		3.2	3.4	3.4	3.5
		Less: Imputed bank service charge		2.1	2.3	1.3	1.1
		Community, social and personal services		9.6	9.0	8.7	8.4
		Import duties		4.4	4.1	3.8	3.4
		Less: Subsidies		0.0	0.0	0.0	0.0

Sources: Treasury Department estimates for 2005 through 2008.

^{^1/}Sum of industries less imputed bank service charge, plus import duties less subsidies.

Table 1.

Papua New Guinea: GDP by Sector at Current Market Prices, 2005–08

				2005	2006	2007	2008
				(In millions of kina)
Nominal GDP ^1/				15,094	16,897	18,798	21,626
	Mineral			4,062	5,043	5,441	5,927
	Non-mineral			11,032	11,854	13,358	15,699
		Of which: Non-agricultural		6,013	6,527	7,456	8,790
	Agriculture, forestry and fishing			5,020	5,327	5,902	6,909
	Mining, quarrying, and petroleum			4,062	5,043	5,441	5,927
	Manufacturing			928	975	1,064	1,248
	Electricity, gas and water			301	338	362	404
	Construction			1,246	1,437	1,750	2,226
	Wholesale and retail trade			943	1,039	1,177	1,393
	Transport, storage and communication			317	326	364	440
	Financing, insurance, real estate and business services			489	579	639	760
	Less: Imputed bank service charge			316	391	240	240
	Community, social and personal services			1,447	1,527	1,635	1,819
	Import duties			661	700	707	742
	Less: Subsidies			4	4	3	3
				(In percent of GDP)
Memorandum items:
	Nominal GDP			100.0	100.0	100.0	100.0
		Mineral		26.9	29.8	28.9	27.4
		Non-mineral		73.1	70.2	71.1	72.6
			Of which: Non-agricultural	39.8	38.6	39.7	40.6
		Agriculture, forestry and fishing		33.3	31.5	31.4	31.9
		Mining, quarrying, and petroleum		26.9	29.8	28.9	27.4
		Manufacturing		6.1	5.8	5.7	5.8
		Electricity, gas and water		2.0	2.0	1.9	1.9
		Construction		8.3	8.5	9.3	10.3
		Wholesale and retail trade		6.2	6.1	6.3	6.4
		Transport, storage and communication		2.1	1.9	1.9	2.0
		Financing, insurance, real estate and business services		3.2	3.4	3.4	3.5
		Less: Imputed bank service charge		2.1	2.3	1.3	1.1
		Community, social and personal services		9.6	9.0	8.7	8.4
		Import duties		4.4	4.1	3.8	3.4
		Less: Subsidies		0.0	0.0	0.0	0.0

Sources: Treasury Department estimates for 2005 through 2008.

^{^1/}Sum of industries less imputed bank service charge, plus import duties less subsidies.

Table 2.

Papua New Guinea: GDP by Sector at 1998 Constant Prices, 2005–08

Sources: Treasury Department estimates for 2005 through 2008.

^{^1/}Sum of industries less imputed bank service charge, plus import duties less subsidies.

Table 2.

Papua New Guinea: GDP by Sector at 1998 Constant Prices, 2005–08

				2005	2006	2007	2008
				(In millions of 1998 kina)
Real GDP ^1/				8,625	8,823	9,454	10,083
	Mineral			1,126	1,030	1,030	1,019
	Non-mineral			7,499	7,793	8,424	9,064
		Of which: Non-agricultural		4,215	4,474	4,966	5,456
	Agriculture, forestry and fishing			3,284	3,318	3,458	3,608
	Mining, quarrying, and petroleum			1,126	1,030	1,030	1,019
	Manufacturing			650	676	717	760
	Electricity, gas and water			134	135	141	150
	Construction			918	1,028	1,192	1,371
	Wholesale and retail trade			576	624	687	735
	Transport, storage and communication			222	233	329	460
	Financing, insurance, real estate and business services			333	366	384	407
	Less: Imputed bank service charge			212	238	176	176
	Community, social and personal services			1,127	1,161	1,207	1,243
	Import duties			470	492	487	508
	Less: Subsidies			3	3	2	2
				(Annual percentage change)
Memorandum items:
	Real GDP			3.9	2.3	7.2	6.7
		Mineral		1.2	-8.5	-0.1	-1.0
		Non-mineral		4.3	3.9	8.1	7.6
			Of which: Non-agricultural	3.4	6.1	11.0
	Agriculture, forestry and fishing			5.6	1.0	4.2	4.3
	Mining, quarrying, and petroleum			1.2	-8.5	-0.1	-1.0
	Manufacturing			8.3	4.0	6.0	6.0
	Electricity, gas and water			5.1	1.3	4.0	6.8
	Construction			4.8	12.0	16.0	15.0
	Wholesale and retail trade			3.5	8.4	10.0	7.0
	Transport, storage and communication			3.0	5.0	41.3	39.8
	Financing, insurance, real estate and business services			10.2	9.7	5.0	6.0
	Less: Imputed bank service charge			21.7	12.4	-26.1	0.1
	Community, social and personal services			2.0	3.0	4.0	3.0
	Import duties			-0.2	4.7	-1.0	4.2
	Less: Subsidies			19.0	8.0	-22.2	0.0

Sources: Treasury Department estimates for 2005 through 2008.

^{^1/}Sum of industries less imputed bank service charge, plus import duties less subsidies.

Table 2.

Papua New Guinea: GDP by Sector at 1998 Constant Prices, 2005–08

				2005	2006	2007	2008
				(In millions of 1998 kina)
Real GDP ^1/				8,625	8,823	9,454	10,083
	Mineral			1,126	1,030	1,030	1,019
	Non-mineral			7,499	7,793	8,424	9,064
		Of which: Non-agricultural		4,215	4,474	4,966	5,456
	Agriculture, forestry and fishing			3,284	3,318	3,458	3,608
	Mining, quarrying, and petroleum			1,126	1,030	1,030	1,019
	Manufacturing			650	676	717	760
	Electricity, gas and water			134	135	141	150
	Construction			918	1,028	1,192	1,371
	Wholesale and retail trade			576	624	687	735
	Transport, storage and communication			222	233	329	460
	Financing, insurance, real estate and business services			333	366	384	407
	Less: Imputed bank service charge			212	238	176	176
	Community, social and personal services			1,127	1,161	1,207	1,243
	Import duties			470	492	487	508
	Less: Subsidies			3	3	2	2
				(Annual percentage change)
Memorandum items:
	Real GDP			3.9	2.3	7.2	6.7
		Mineral		1.2	-8.5	-0.1	-1.0
		Non-mineral		4.3	3.9	8.1	7.6
			Of which: Non-agricultural	3.4	6.1	11.0
	Agriculture, forestry and fishing			5.6	1.0	4.2	4.3
	Mining, quarrying, and petroleum			1.2	-8.5	-0.1	-1.0
	Manufacturing			8.3	4.0	6.0	6.0
	Electricity, gas and water			5.1	1.3	4.0	6.8
	Construction			4.8	12.0	16.0	15.0
	Wholesale and retail trade			3.5	8.4	10.0	7.0
	Transport, storage and communication			3.0	5.0	41.3	39.8
	Financing, insurance, real estate and business services			10.2	9.7	5.0	6.0
	Less: Imputed bank service charge			21.7	12.4	-26.1	0.1
	Community, social and personal services			2.0	3.0	4.0	3.0
	Import duties			-0.2	4.7	-1.0	4.2
	Less: Subsidies			19.0	8.0	-22.2	0.0

Sources: Treasury Department estimates for 2005 through 2008.

^{^1/}Sum of industries less imputed bank service charge, plus import duties less subsidies.

Table 3.

Papua New Guinea: Production of Major Commodities, 2004–08

Sources: Data provided by the Papua New Guinea authorities.

Table 3.

Papua New Guinea: Production of Major Commodities, 2004–08

		2004	2005	2006	2007	2008
Production volumes
	Crude oil (millions of barrels)	12.6	13.3	14.5	13.8	12.2
	Copper (thousands of tonnes)	173.9	226.1	216.7	199.4	185.7
	Gold (tonnes)	67.3	70.5	56.7	57.5	63.3
	Cocoa (thousands of tonnes)	41.5	44.2	44.0	47.8	53.3
	Coffee (thousands of tonnes)	63.0	72.1	52.3	54.6	67.0
	Tea (thousands of tonnes)	8.1	6.9	6.6	6.4	5.4
	Copra (thousands of tonnes)	19.2	22.3	12.7	12.6	32.6
	Copra oil (thousands of tonnes)	45.1	54.4	41.5	51.3	62.0
	Palm oil (thousands of tonnes)	339.0	345.6	362.3	368.3	446.0
	Rubber (thousands of tonnes)	3.8	4.8	4.4	4.1	4.9
	Logs (millions of cubic meters)	2.0	2.3	2.7	2.8	2.5
		(In millions of U.S. dollars)
Production values
	Crude oil	513	710	933	982	1,182
	Copper	479	831	1,459	1,424	1,293
	Gold	862	1,008	1,102	1,254	1,774
	Cocoa	68	64	66	88	129
	Coffee	88	152	145	190	281
	Tea	7	7	7	6	6
	Copra	5	6	3	4	15
	Copra oil	25	30	23	28	34
	Palm oil	136	126	150	263	382
	Rubber	4	6	8	8	11
	Logs	110	131	180	215	208

Sources: Data provided by the Papua New Guinea authorities.

Table 3.

Papua New Guinea: Production of Major Commodities, 2004–08

		2004	2005	2006	2007	2008
Production volumes
	Crude oil (millions of barrels)	12.6	13.3	14.5	13.8	12.2
	Copper (thousands of tonnes)	173.9	226.1	216.7	199.4	185.7
	Gold (tonnes)	67.3	70.5	56.7	57.5	63.3
	Cocoa (thousands of tonnes)	41.5	44.2	44.0	47.8	53.3
	Coffee (thousands of tonnes)	63.0	72.1	52.3	54.6	67.0
	Tea (thousands of tonnes)	8.1	6.9	6.6	6.4	5.4
	Copra (thousands of tonnes)	19.2	22.3	12.7	12.6	32.6
	Copra oil (thousands of tonnes)	45.1	54.4	41.5	51.3	62.0
	Palm oil (thousands of tonnes)	339.0	345.6	362.3	368.3	446.0
	Rubber (thousands of tonnes)	3.8	4.8	4.4	4.1	4.9
	Logs (millions of cubic meters)	2.0	2.3	2.7	2.8	2.5
		(In millions of U.S. dollars)
Production values
	Crude oil	513	710	933	982	1,182
	Copper	479	831	1,459	1,424	1,293
	Gold	862	1,008	1,102	1,254	1,774
	Cocoa	68	64	66	88	129
	Coffee	88	152	145	190	281
	Tea	7	7	7	6	6
	Copra	5	6	3	4	15
	Copra oil	25	30	23	28	34
	Palm oil	136	126	150	263	382
	Rubber	4	6	8	8	11
	Logs	110	131	180	215	208

Sources: Data provided by the Papua New Guinea authorities.

Table 4.

Papua New Guinea: Employment by Sector, 2004–09

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

^{^1/}Not included in overall index; excludes subcontractors; includes both mining and petroleum.

Table 4.

Papua New Guinea: Employment by Sector, 2004–09

		2004	2006	2007	2008	2009
Sep.
		(March 2002=100, annual average)
Total		109.2	119.1	131.2	141.9	148
	Retail	93.1	97.8	115.1	123.6	124.7
	Wholesale	123.8	145.7	158.0	160.9	166.4
	Manufacturing	117.7	132.7	142.4	156.6	164.4
	Building and construction	107.9	119.2	135.4	163.2	171.2
	Transportation	106.8	108.2	115.2	125.2	127.6
	Agriculture, forestry, and fisheries	112.9	123.3	139.1	147.3	152.8
	Financial and business services	104.7	112.5	114.4	122.7	133.3
Mineral ^1/		95.6	111.1	128.5	137.8	141.6
		(Change from corresponding period of previous year, in percent)
Total		0.6	7.3	10.2	8.2	4.3
	Retail	-3.9	4.4	17.7	7.4	0.9
	Wholesale	9.3	11.5	8.4	1.8	3.4
	Manufacturing	6.1	4.1	7.3	10.0	5.0
	Building and construction	-13.1	21.1	13.6	20.5	4.9
	Transportation	0.7	2.0	6.5	8.7	1.9
	Agriculture, forestry, and fisheries	-1.1	9.2	12.8	5.9	3.7
	Financial and business services	3.9	6.4	1.7	7.3	8.6
Mineral ^1/		-2.0	9.5	15.7	7.2	2.8

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

^{^1/}Not included in overall index; excludes subcontractors; includes both mining and petroleum.

Table 4.

Papua New Guinea: Employment by Sector, 2004–09

		2004	2006	2007	2008	2009
Sep.
		(March 2002=100, annual average)
Total		109.2	119.1	131.2	141.9	148
	Retail	93.1	97.8	115.1	123.6	124.7
	Wholesale	123.8	145.7	158.0	160.9	166.4
	Manufacturing	117.7	132.7	142.4	156.6	164.4
	Building and construction	107.9	119.2	135.4	163.2	171.2
	Transportation	106.8	108.2	115.2	125.2	127.6
	Agriculture, forestry, and fisheries	112.9	123.3	139.1	147.3	152.8
	Financial and business services	104.7	112.5	114.4	122.7	133.3
Mineral ^1/		95.6	111.1	128.5	137.8	141.6
		(Change from corresponding period of previous year, in percent)
Total		0.6	7.3	10.2	8.2	4.3
	Retail	-3.9	4.4	17.7	7.4	0.9
	Wholesale	9.3	11.5	8.4	1.8	3.4
	Manufacturing	6.1	4.1	7.3	10.0	5.0
	Building and construction	-13.1	21.1	13.6	20.5	4.9
	Transportation	0.7	2.0	6.5	8.7	1.9
	Agriculture, forestry, and fisheries	-1.1	9.2	12.8	5.9	3.7
	Financial and business services	3.9	6.4	1.7	7.3	8.6
Mineral ^1/		-2.0	9.5	15.7	7.2	2.8

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

^{^1/}Not included in overall index; excludes subcontractors; includes both mining and petroleum.

Table 5.

Papua New Guinea: Consumer Price Index by Expenditure Group, 2003-December 2009

Sources: Consumer Price Index, National Statistical Office; and Bank of Papua New Guinea’s Quarterly Economic Bulletin.

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

Table 5.

Papua New Guinea: Consumer Price Index by Expenditure Group, 2003-December 2009

		All Groups Total	Food	Drinks, Tobacco, and and Betelnut	Clothing and Footwear	Rents, Fuel, and Power	Household Equipment and Operations	Transportation and Communication	Miscellaneous
(Percentage change from corresponding quarter of previous year)
2003
	March	20.7	23.7	22.2	5.1	7.1	19.3	33.4	17.6
	June	19.0	14.9	20.0	4.6	7.9	16.3	32.9	16.2
	September	11.8	8.9	10.2	4.9	7.9	12.6	21.6	13.0
	December	8.4	6.9	5.9	4.1	1.4	9.0	15.9	12.0
2004
	March	2.5	-1.4	1.1	3.9	1.3	0.2	-0.1	16.5
	June	1.9	2.8	0.7	4.1	3.3	0.9	-1.9	16.4
	September	1.6	1.6	-0.1	1.5	8.2	-0.8	0.0	16.5
	December	2.4	-0.6	6.7	0.7	15.7	-1.7	-0.3	15.4
2005
	March	0.1	1.4	2.5	-1.4	8.8	-3.5	-8.3	4.4
	June	0.8	1.4	2.4	-2.1	16.6	0.9	-3.9	2.3
	September	1.6	3.4	5.4	-2.6	6.7	-2.3	-5.7	2.0
	December	4.7	7.6	11.2	-2.0	5.2	-3.7	-5.6	2.2
2006
	March	2.8	3.5	1.8	1.4	12.3	-3.6	3.9	-1.2
	June	2.5	4.7	1.0	1.8	4.7	-6.8	1.4	0.8
	September	5.3	9.2	4.6	-0.4	14.2	-3.1	1.0	-1.0
	December	-0.9	4.0	-14.6	-2.6	9.5	-2.1	6.1	2.5
2007	March	1.1	2.6	-5.6	3.8	3.7	-5.7	5.0	7.5
	June	1.0	1.1	-4.1	3.4	3.0	-7.6	5.5	10.3
	September	-1.6	-3.1	-8.6	8.6	0.5	-6.3	5.9	12.9
	December	3.2	2.2	3.9	12.3	6.6	-3.7	2.2	9.8
2008	March	7.5	10.1	6.8	6.0	13.7	4.9	3.6	4.7
	June	10.7	15.2	10.8	0.3	21.3	6.3	4.9	1.6
	September	13.5	20.8	13.7	0.3	23.8	6.1	3.7	1.0
	December	11.2	20.2	10.2	2.4	0.8	3.7	1.3	0.9
2009	March	10.2	14.7	13.2	-0.6	-9.9	4.6	1.9	14.9
	June	6.7	8.4	11.6	2.4	-14.5	2.9	0.4	14.9
	September	5.3	3.7	12.8	2.1	-15.6	3.3	2.5	14.9
	December	5.7	2.9	11.1	0.4	0.1	2.9	5.7	14.6
Memorandum item:
	Weights in total basket (percent) ^1/	100.0	40.9	20.0	6.2	7.2	5.3	13.0	7.5

Sources: Consumer Price Index, National Statistical Office; and Bank of Papua New Guinea’s Quarterly Economic Bulletin.

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

Table 5.

Papua New Guinea: Consumer Price Index by Expenditure Group, 2003-December 2009

		All Groups Total	Food	Drinks, Tobacco, and and Betelnut	Clothing and Footwear	Rents, Fuel, and Power	Household Equipment and Operations	Transportation and Communication	Miscellaneous
(Percentage change from corresponding quarter of previous year)
2003
	March	20.7	23.7	22.2	5.1	7.1	19.3	33.4	17.6
	June	19.0	14.9	20.0	4.6	7.9	16.3	32.9	16.2
	September	11.8	8.9	10.2	4.9	7.9	12.6	21.6	13.0
	December	8.4	6.9	5.9	4.1	1.4	9.0	15.9	12.0
2004
	March	2.5	-1.4	1.1	3.9	1.3	0.2	-0.1	16.5
	June	1.9	2.8	0.7	4.1	3.3	0.9	-1.9	16.4
	September	1.6	1.6	-0.1	1.5	8.2	-0.8	0.0	16.5
	December	2.4	-0.6	6.7	0.7	15.7	-1.7	-0.3	15.4
2005
	March	0.1	1.4	2.5	-1.4	8.8	-3.5	-8.3	4.4
	June	0.8	1.4	2.4	-2.1	16.6	0.9	-3.9	2.3
	September	1.6	3.4	5.4	-2.6	6.7	-2.3	-5.7	2.0
	December	4.7	7.6	11.2	-2.0	5.2	-3.7	-5.6	2.2
2006
	March	2.8	3.5	1.8	1.4	12.3	-3.6	3.9	-1.2
	June	2.5	4.7	1.0	1.8	4.7	-6.8	1.4	0.8
	September	5.3	9.2	4.6	-0.4	14.2	-3.1	1.0	-1.0
	December	-0.9	4.0	-14.6	-2.6	9.5	-2.1	6.1	2.5
2007	March	1.1	2.6	-5.6	3.8	3.7	-5.7	5.0	7.5
	June	1.0	1.1	-4.1	3.4	3.0	-7.6	5.5	10.3
	September	-1.6	-3.1	-8.6	8.6	0.5	-6.3	5.9	12.9
	December	3.2	2.2	3.9	12.3	6.6	-3.7	2.2	9.8
2008	March	7.5	10.1	6.8	6.0	13.7	4.9	3.6	4.7
	June	10.7	15.2	10.8	0.3	21.3	6.3	4.9	1.6
	September	13.5	20.8	13.7	0.3	23.8	6.1	3.7	1.0
	December	11.2	20.2	10.2	2.4	0.8	3.7	1.3	0.9
2009	March	10.2	14.7	13.2	-0.6	-9.9	4.6	1.9	14.9
	June	6.7	8.4	11.6	2.4	-14.5	2.9	0.4	14.9
	September	5.3	3.7	12.8	2.1	-15.6	3.3	2.5	14.9
	December	5.7	2.9	11.1	0.4	0.1	2.9	5.7	14.6
Memorandum item:
	Weights in total basket (percent) ^1/	100.0	40.9	20.0	6.2	7.2	5.3	13.0	7.5

Sources: Consumer Price Index, National Statistical Office; and Bank of Papua New Guinea’s Quarterly Economic Bulletin.

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

Table 6a.

Papua New Guinea: Central Government Budget 2006–09

(In millions of Kina)

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

Table 6a.

Papua New Guinea: Central Government Budget 2006–09

(In millions of Kina)

						2006	2007	2008	2009
Est.
Revenue and grants						6,288	7,008	7,041	6,119
	Tax					4,945	5,854	5,756	4,885
		Mineral taxes				2,003	2,391	1,973	710
		Non-mineral taxes				2,942	3,464	3,783	4,175
	Nontax					429	433	283	232
		Of which: mineral nontax revenue				271	226	163	106
	Grants					915	721	1,002	1,002
		Project Grants				915	721	1,002	1,002
Expenditure						5,184	5,325	6,498	7,787
	Recurrent					3,019	3,502	3,769	4,099
		Noninterest recurrent expenditures				2,712	3,132	3,388	3,690
		National departments				1,666	2,098	2,276	2,477
			Salaries and wages			698	835	920	997
			Arrears payments			109	57	71	76
			Education funding			42	149	143	143
			Goods and services			787	1,051	1,134	1,252
			Structural adjustment payments			30	7	9	9
			Other			0	0	0	0
		Provinces				812	795	855	959
			Salaries and wages			663	622	668	722
			Goods and services			65	65	71	98
			Conditional grants			84	108	115	139
			Other			0	0	0	0
		Statutory authorities				234	239	257	254
	Interest					307	370	381	409
			Domestic			187	252	292	287
			Foreign			120	118	89	122
Development budget and net lending						2,165	1,823	2,729	3,688
	Development budget					2,169	1,827	2,732	3,692
				Project grants		915	721	1,002	1,002
				Concessional Loans		145	102	84	220
				Nonconcessional loans		0	1	0	0
				Domestic Funds		1,110	1,003	511	840
					o/w “Additional Priority Expenditures”	639	520	1,134	1,630
	Net lending					-4	-4	-2	-4
Overall balance (from above the line)						1,104	1,683	543	-1,668
Errors, omissions, and discrepancy						-145	-465	-1	0
Overall balance (from below the line)						959	1,218	541	-1,668
Financing						-959	-1,218	-541	1,668
	Foreign financing (net)					-219	-398	-372	22
	Domestic financing (net)					-740	-820	-169	1,646
	Float					0	0	0	0
	Asset sales					0	0	0	0
Memorandum item:
	Nominal GDP (in millions of kina)					16,897	18,798	21,626	21,784

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

Table 6a.

Papua New Guinea: Central Government Budget 2006–09

(In millions of Kina)

						2006	2007	2008	2009
Est.
Revenue and grants						6,288	7,008	7,041	6,119
	Tax					4,945	5,854	5,756	4,885
		Mineral taxes				2,003	2,391	1,973	710
		Non-mineral taxes				2,942	3,464	3,783	4,175
	Nontax					429	433	283	232
		Of which: mineral nontax revenue				271	226	163	106
	Grants					915	721	1,002	1,002
		Project Grants				915	721	1,002	1,002
Expenditure						5,184	5,325	6,498	7,787
	Recurrent					3,019	3,502	3,769	4,099
		Noninterest recurrent expenditures				2,712	3,132	3,388	3,690
		National departments				1,666	2,098	2,276	2,477
			Salaries and wages			698	835	920	997
			Arrears payments			109	57	71	76
			Education funding			42	149	143	143
			Goods and services			787	1,051	1,134	1,252
			Structural adjustment payments			30	7	9	9
			Other			0	0	0	0
		Provinces				812	795	855	959
			Salaries and wages			663	622	668	722
			Goods and services			65	65	71	98
			Conditional grants			84	108	115	139
			Other			0	0	0	0
		Statutory authorities				234	239	257	254
	Interest					307	370	381	409
			Domestic			187	252	292	287
			Foreign			120	118	89	122
Development budget and net lending						2,165	1,823	2,729	3,688
	Development budget					2,169	1,827	2,732	3,692
				Project grants		915	721	1,002	1,002
				Concessional Loans		145	102	84	220
				Nonconcessional loans		0	1	0	0
				Domestic Funds		1,110	1,003	511	840
					o/w “Additional Priority Expenditures”	639	520	1,134	1,630
	Net lending					-4	-4	-2	-4
Overall balance (from above the line)						1,104	1,683	543	-1,668
Errors, omissions, and discrepancy						-145	-465	-1	0
Overall balance (from below the line)						959	1,218	541	-1,668
Financing						-959	-1,218	-541	1,668
	Foreign financing (net)					-219	-398	-372	22
	Domestic financing (net)					-740	-820	-169	1,646
	Float					0	0	0	0
	Asset sales					0	0	0	0
Memorandum item:
	Nominal GDP (in millions of kina)					16,897	18,798	21,626	21,784

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

Table 6b.

Papua New Guinea: Central Government Budget 2006–09

(In percent of GDP)

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

Table 6b.

Papua New Guinea: Central Government Budget 2006–09

(In percent of GDP)

						2006	2007	2008	2009
Est.
Revenue and grants						37.2	37.3	32.3	28.1
	Tax					29.3	31.1	28.4	22.4
		Mineral taxes				11.9	12.7	10.7	3.3
		Non-mineral taxes				17.4	18.4	17.8	19.2
	Nontax					2.5	2.3	2.2	1.1
		Of which: Mineral nontax revenue				1.6	1.2	1.0	0.5
	Grants					5.4	3.8	1.6	4.6
		Project Grants				5.4	3.8	1.6	4.6
Expenditure						30.7	28.3	27.0	35.7
	Recurrent					17.9	18.6	18.8	18.8
		Noninterest recurrent expenditures				16.0	16.7	17.0	16.9
		National departments				9.9	11.2	11.6	11.4
			Salaries and wages			4.1	4.4	4.3	4.6
			Arrears payments			0.6	0.3	0.3	0.3
			Education funding			0.3	0.8	0.7	0.7
			Goods and services			4.7	5.6	6.0	5.7
			Structural adjustment payments			0.2	0.0	0.3	0.0
		Provinces				4.8	4.2	4.1	4.4
			Salaries and wages			3.9	3.3	3.2	3.3
			Goods and services			0.4	0.3	0.3	0.5
			Conditional Grants			0.5	0.6	0.6	0.6
		Statutory authorities				1.4	1.3	1.3	1.2
	Interest					1.8	2.0	1.8	1.9
			Domestic			1.1	1.3	1.3	1.3
			Foreign			0.7	0.6	0.5	0.6
Development budget and net lending						12.8	9.7	4.2	9.5
	Development budget					12.8	9.7	4.2	9.5
				Project grants		5.4	3.8	1.6	4.6
				Project concessional Loans		0.9	0.5	0.2	1.0
				Nonconcessional loans		0.0	0.0	0.0	0.0
				Domestic Funds		6.6	5.3	2.4	3.9
					o/w “Additional Priority Expenditures”	3.8	2.8	4.0	7.5
Overall balance (from above the line)						6.5	9.0	5.3	-7.7
Errors, omissions, and discrepancy						-0.9	-2.5	-1.6	0.0
Overall balance (from below the line)						5.7	6.5	3.6	-7.7
Financing						-5.7	-6.5	-3.6	7.7
	Foreign financing (net)					-1.3	-2.1	-1.9	0.1
	Domestic financing					-4.4	-4.4	-1.7	7.6
Memorandum items:
	Nominal GDP (in millions of kina)					16,897	18,798.4	21,625.7	21,783.7
	Nonmineral fiscal balance					-7.8	-7.4	-8.0	-11.4

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

Table 6b.

Papua New Guinea: Central Government Budget 2006–09

(In percent of GDP)

						2006	2007	2008	2009
Est.
Revenue and grants						37.2	37.3	32.3	28.1
	Tax					29.3	31.1	28.4	22.4
		Mineral taxes				11.9	12.7	10.7	3.3
		Non-mineral taxes				17.4	18.4	17.8	19.2
	Nontax					2.5	2.3	2.2	1.1
		Of which: Mineral nontax revenue				1.6	1.2	1.0	0.5
	Grants					5.4	3.8	1.6	4.6
		Project Grants				5.4	3.8	1.6	4.6
Expenditure						30.7	28.3	27.0	35.7
	Recurrent					17.9	18.6	18.8	18.8
		Noninterest recurrent expenditures				16.0	16.7	17.0	16.9
		National departments				9.9	11.2	11.6	11.4
			Salaries and wages			4.1	4.4	4.3	4.6
			Arrears payments			0.6	0.3	0.3	0.3
			Education funding			0.3	0.8	0.7	0.7
			Goods and services			4.7	5.6	6.0	5.7
			Structural adjustment payments			0.2	0.0	0.3	0.0
		Provinces				4.8	4.2	4.1	4.4
			Salaries and wages			3.9	3.3	3.2	3.3
			Goods and services			0.4	0.3	0.3	0.5
			Conditional Grants			0.5	0.6	0.6	0.6
		Statutory authorities				1.4	1.3	1.3	1.2
	Interest					1.8	2.0	1.8	1.9
			Domestic			1.1	1.3	1.3	1.3
			Foreign			0.7	0.6	0.5	0.6
Development budget and net lending						12.8	9.7	4.2	9.5
	Development budget					12.8	9.7	4.2	9.5
				Project grants		5.4	3.8	1.6	4.6
				Project concessional Loans		0.9	0.5	0.2	1.0
				Nonconcessional loans		0.0	0.0	0.0	0.0
				Domestic Funds		6.6	5.3	2.4	3.9
					o/w “Additional Priority Expenditures”	3.8	2.8	4.0	7.5
Overall balance (from above the line)						6.5	9.0	5.3	-7.7
Errors, omissions, and discrepancy						-0.9	-2.5	-1.6	0.0
Overall balance (from below the line)						5.7	6.5	3.6	-7.7
Financing						-5.7	-6.5	-3.6	7.7
	Foreign financing (net)					-1.3	-2.1	-1.9	0.1
	Domestic financing					-4.4	-4.4	-1.7	7.6
Memorandum items:
	Nominal GDP (in millions of kina)					16,897	18,798.4	21,625.7	21,783.7
	Nonmineral fiscal balance					-7.8	-7.4	-8.0	-11.4

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

Table 7.

Papua New Guinea: Central Government Revenue and Grants 2006–09

(In millions of kina)

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

Table 7.

Papua New Guinea: Central Government Revenue and Grants 2006–09

(In millions of kina)

				2006	2007	2008	2009
Est.
Total revenue and grants				6,288	7,008	7,041	6,119
Tax revenue				4,945	5,854	5,756	4,885
	Taxes on income and profit			3,824	4,491	4,353	3,346
		Personal tax		907	1,007	1,109	1,263
		Company tax		551	724	888	992
		Dividend withholding tax		201	199	190	169
		Mineral and petroleum taxes		1,947	2,334	1,962	710
		Other direct		92	111	99	99
		Interest withholding tax		22	19	23	20
		Gaming tax		104	97	82	94
	Indirect taxes			1,121	1,363	1,456	1,539
		Excise tax		324	342	366	377
		VAT plus mining levy		457	614	622	731
			VAT	401	558	611	731
			Mining levy	56	57	11	0
		Other indirect		3	2	5	5
		Taxes on international trade		337	404	411	426
			Import duties	90	136	158	187
			Export duties (logs)	163	155	127	89
			Import excises	84	113	126	149
Nontax revenue				429	433	283	288
	Property income			339	313	188	189
		Dividends		68	87	26	27
		Mining and petroleum		271	226	163	163
	Other			89	120	93	98
	Inflastructure tax credit			23	21	33	40
Foreign grants				915	721	1,002	1,002
Memoranda items:
	Revenue, excluding grants			5,374	6,287	6,039	5,117

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

Table 7.

Papua New Guinea: Central Government Revenue and Grants 2006–09

(In millions of kina)

				2006	2007	2008	2009
Est.
Total revenue and grants				6,288	7,008	7,041	6,119
Tax revenue				4,945	5,854	5,756	4,885
	Taxes on income and profit			3,824	4,491	4,353	3,346
		Personal tax		907	1,007	1,109	1,263
		Company tax		551	724	888	992
		Dividend withholding tax		201	199	190	169
		Mineral and petroleum taxes		1,947	2,334	1,962	710
		Other direct		92	111	99	99
		Interest withholding tax		22	19	23	20
		Gaming tax		104	97	82	94
	Indirect taxes			1,121	1,363	1,456	1,539
		Excise tax		324	342	366	377
		VAT plus mining levy		457	614	622	731
			VAT	401	558	611	731
			Mining levy	56	57	11	0
		Other indirect		3	2	5	5
		Taxes on international trade		337	404	411	426
			Import duties	90	136	158	187
			Export duties (logs)	163	155	127	89
			Import excises	84	113	126	149
Nontax revenue				429	433	283	288
	Property income			339	313	188	189
		Dividends		68	87	26	27
		Mining and petroleum		271	226	163	163
	Other			89	120	93	98
	Inflastructure tax credit			23	21	33	40
Foreign grants				915	721	1,002	1,002
Memoranda items:
	Revenue, excluding grants			5,374	6,287	6,039	5,117

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

Table 8.

Papua New Guinea: Central Government Domestic Debt, 2004–09

(In millions of kina; end of period)

Sources: Data provided by the Bank of Papua New Guinea; and Department of Treasury.

^{^1/}Discount value.

^{^2/}Face value.

Table 8.

Papua New Guinea: Central Government Domestic Debt, 2004–09

(In millions of kina; end of period)

					2004	2005	2006	2007	2008	2009
Central government domestic debt: by creditor
	Bank of Papua New Guinea
		Net credit to central government			-26	-538	-659	-1,134	-1,742	-283
			Securities		76	106	143	203	195	333
				Treasury bills ^1/	0	0	0	0	0	0
				Inscribed stock ^2/	76	106	143	203	195	333
			Less: Deposits		105	646	803	1,337	1,937	616
	Other Depostory Corporations
		Net credit to central government			1,320	1,652	1,625	1,305	1,660	890
			Securities		1,593	2,013	2,241	2,324	3,060	2,787
				Treasury bills ^1/	1,157	1,118	1,012	907	1,504	1,430
				Inscribed stock ^2/	436	895	1,229	1,417	1,556	1,357
			Less: Deposits		275	361	627	1,019	1,402	1,897
	Nonbanks
		Net credit to central government			1,511	1,275	684	658	742	1,061
			Securities		1,465	1,246	654	628	712	1,032
				Treasury bills ^2/	1,079	679	139	74	131	337
				Inscribed stock ^2/	386	567	515	555	581	695
			Loans		46	30	30	30	30	30
Central government net domestic debt: total					2,804	2,390	1,649	829	660	1,668
	Total gross domestic debt				3,184	3,397	3,080	3,185	3,999	4,181
			Securities		3,134	3,364	3,038	3,155	3,967	4,151
				Total treasury bills	2,236	1,797	1,151	980	1,635	1,766
				Total inscribed stock ^2/	898	1,568	1,887	2,175	2,333	2,385
			Loans		49	33	42	30	32	30
	Less: Central government deposits				380	1,008	1,430	2,355	3,339	2,513

Sources: Data provided by the Bank of Papua New Guinea; and Department of Treasury.

^{^1/}Discount value.

^{^2/}Face value.

Table 8.

Papua New Guinea: Central Government Domestic Debt, 2004–09

(In millions of kina; end of period)

					2004	2005	2006	2007	2008	2009
Central government domestic debt: by creditor
	Bank of Papua New Guinea
		Net credit to central government			-26	-538	-659	-1,134	-1,742	-283
			Securities		76	106	143	203	195	333
				Treasury bills ^1/	0	0	0	0	0	0
				Inscribed stock ^2/	76	106	143	203	195	333
			Less: Deposits		105	646	803	1,337	1,937	616
	Other Depostory Corporations
		Net credit to central government			1,320	1,652	1,625	1,305	1,660	890
			Securities		1,593	2,013	2,241	2,324	3,060	2,787
				Treasury bills ^1/	1,157	1,118	1,012	907	1,504	1,430
				Inscribed stock ^2/	436	895	1,229	1,417	1,556	1,357
			Less: Deposits		275	361	627	1,019	1,402	1,897
	Nonbanks
		Net credit to central government			1,511	1,275	684	658	742	1,061
			Securities		1,465	1,246	654	628	712	1,032
				Treasury bills ^2/	1,079	679	139	74	131	337
				Inscribed stock ^2/	386	567	515	555	581	695
			Loans		46	30	30	30	30	30
Central government net domestic debt: total					2,804	2,390	1,649	829	660	1,668
	Total gross domestic debt				3,184	3,397	3,080	3,185	3,999	4,181
			Securities		3,134	3,364	3,038	3,155	3,967	4,151
				Total treasury bills	2,236	1,797	1,151	980	1,635	1,766
				Total inscribed stock ^2/	898	1,568	1,887	2,175	2,333	2,385
			Loans		49	33	42	30	32	30
	Less: Central government deposits				380	1,008	1,430	2,355	3,339	2,513

Sources: Data provided by the Bank of Papua New Guinea; and Department of Treasury.

^{^1/}Discount value.

^{^2/}Face value.

Table 9.

Papua New Guinea: Depository Corporations Survey, 2006–09

(In millions of kina; end of period)

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

^{^1/}Year-on-year percentage change.

Table 9.

Papua New Guinea: Depository Corporations Survey, 2006–09

(In millions of kina; end of period)

						2006	2007	2008	2009
Net foreign assets						4,606	7,032	6,164	7,630
	Bank of Papua New Guinea					4,277	5,867	5,278	6,513
		Foreign assets				4,326	5,919	5,320	7,046
		Less: Foreign liabilities				49	53	43	533
	Other Depository Coporations					329	1,165	887	1,117
Net domestic assets						2,435	1,963	3,837	4,301
	Domestic credit					3,975	4,194	5,508	7,169
		Net credit to central government				966	171	-82	607
			Bank of Papua New Guinea			-659	-1,134	-1,742	-283
				Claims on central government		144	203	196	333
				Less: Central government deposits		803	1,337	1,937	616
			Other Depository Corporations			1,625	1,305	1,660	890
				Claims on central government		2,252	2,324	3,062	2,787
					Securities	2,241	2,324	3,060	2,787
				Less: Central government deposits		627	1,019	1,402	1,897
		Claims on other sectors				3,009	4,023	5,590	6,562
			Claims on the private sector			2,947	3,961	5,523	6,478
			Claims on official entities			60	61	66	84
	Other items, net					-1,540	-2,231	-1,671	-2,868
Broad money						7,041	8,995	10,001	11,932
	Narrow money					3,792	4,923	5,511	5,944
		Currency outside other depository corporations				520	608	600	741
		Demand deposits				3,272	4,316	4,911	5,203
	Quasi money					3,249	4,072	4,490	5,988
Memorandum items:
	Narrow money growth rate ^1/					25.7	29.8	11.9	7.9
	Broad money growth rate ^1/					38.9	27.8	11.2	19.3
	Private sector credit growth rate ^1/					38.2	34.4	39.4	17.3
	Authorities private sector credit growth target
	Nominal GDP (in millions of kina)					16,897	18,798	10,730	12,990
	Nominal non-mineral GDP/broad money					1.7	1.5	1.6	1.5

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

^{^1/}Year-on-year percentage change.

Table 9.

Papua New Guinea: Depository Corporations Survey, 2006–09

(In millions of kina; end of period)

						2006	2007	2008	2009
Net foreign assets						4,606	7,032	6,164	7,630
	Bank of Papua New Guinea					4,277	5,867	5,278	6,513
		Foreign assets				4,326	5,919	5,320	7,046
		Less: Foreign liabilities				49	53	43	533
	Other Depository Coporations					329	1,165	887	1,117
Net domestic assets						2,435	1,963	3,837	4,301
	Domestic credit					3,975	4,194	5,508	7,169
		Net credit to central government				966	171	-82	607
			Bank of Papua New Guinea			-659	-1,134	-1,742	-283
				Claims on central government		144	203	196	333
				Less: Central government deposits		803	1,337	1,937	616
			Other Depository Corporations			1,625	1,305	1,660	890
				Claims on central government		2,252	2,324	3,062	2,787
					Securities	2,241	2,324	3,060	2,787
				Less: Central government deposits		627	1,019	1,402	1,897
		Claims on other sectors				3,009	4,023	5,590	6,562
			Claims on the private sector			2,947	3,961	5,523	6,478
			Claims on official entities			60	61	66	84
	Other items, net					-1,540	-2,231	-1,671	-2,868
Broad money						7,041	8,995	10,001	11,932
	Narrow money					3,792	4,923	5,511	5,944
		Currency outside other depository corporations				520	608	600	741
		Demand deposits				3,272	4,316	4,911	5,203
	Quasi money					3,249	4,072	4,490	5,988
Memorandum items:
	Narrow money growth rate ^1/					25.7	29.8	11.9	7.9
	Broad money growth rate ^1/					38.9	27.8	11.2	19.3
	Private sector credit growth rate ^1/					38.2	34.4	39.4	17.3
	Authorities private sector credit growth target
	Nominal GDP (in millions of kina)					16,897	18,798	10,730	12,990
	Nominal non-mineral GDP/broad money					1.7	1.5	1.6	1.5

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

^{^1/}Year-on-year percentage change.

Table 10.

Papua New Guinea: Balance Sheet of the Central Bank, 2006–09

(In millions of kina; end of period)

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

^{^1/}Year-on-year percentage change.

Table 10.

Papua New Guinea: Balance Sheet of the Central Bank, 2006–09

(In millions of kina; end of period)

					2006	2007	2008	2009
Net foreign assets					4,277	5,867	5,278	6,513
	Foreign assets				4,326	5,919	5,320	7,046
	Less: Foreign liabilities				49	53	43	533
		Of which: Non-IMF liabilities			6	11	4	1
Net domestic assets					-3,139	-4,025	-3,657	-4,700
	Domestic credit				-601	-1,103	-1,711	-244
		Net credit to government			-659	-1,134	-1,742	-283
			Securities		143	203	195	333
				Treasury bills	0	0	0	0
				Inscribed stock	143	203	195	333
			Advances		1	0	0	0
			Less: Central government deposits		803	1,337	1,937	616
		Credit to other sectors			58	32	31	39
			Claims on the private sector		32	7	7	11
			Claims on other depository corporations		26	24	24	27
			Claims on other financial corporations		1	1	0	0
	Other items net				-2,538	-2,922	-1,947	-4,456
Reserve money					1,138	1,842	1,621	1,814
	Currency in circulation				693	823	851	1,002
	Deposits of other depository corporations				442	1,016	767	808
		ESA deposits			246	754	464	440
		CRR deposits			196	262	303	369
	Other deposits				3	3	3	3
Memorandum items:
	Reserve money growth ^1/				21.7	61.8	-12.0	11.9
	Use of fund credit (millions of U.S. dollars)				0.0	0.0	0.0	0.0
	Gross international reserves (millions of U.S. dollars)				1,427.5	2,086.6	1,987.1	2,607.1

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

^{^1/}Year-on-year percentage change.

Table 10.

Papua New Guinea: Balance Sheet of the Central Bank, 2006–09

(In millions of kina; end of period)

					2006	2007	2008	2009
Net foreign assets					4,277	5,867	5,278	6,513
	Foreign assets				4,326	5,919	5,320	7,046
	Less: Foreign liabilities				49	53	43	533
		Of which: Non-IMF liabilities			6	11	4	1
Net domestic assets					-3,139	-4,025	-3,657	-4,700
	Domestic credit				-601	-1,103	-1,711	-244
		Net credit to government			-659	-1,134	-1,742	-283
			Securities		143	203	195	333
				Treasury bills	0	0	0	0
				Inscribed stock	143	203	195	333
			Advances		1	0	0	0
			Less: Central government deposits		803	1,337	1,937	616
		Credit to other sectors			58	32	31	39
			Claims on the private sector		32	7	7	11
			Claims on other depository corporations		26	24	24	27
			Claims on other financial corporations		1	1	0	0
	Other items net				-2,538	-2,922	-1,947	-4,456
Reserve money					1,138	1,842	1,621	1,814
	Currency in circulation				693	823	851	1,002
	Deposits of other depository corporations				442	1,016	767	808
		ESA deposits			246	754	464	440
		CRR deposits			196	262	303	369
	Other deposits				3	3	3	3
Memorandum items:
	Reserve money growth ^1/				21.7	61.8	-12.0	11.9
	Use of fund credit (millions of U.S. dollars)				0.0	0.0	0.0	0.0
	Gross international reserves (millions of U.S. dollars)				1,427.5	2,086.6	1,987.1	2,607.1

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

^{^1/}Year-on-year percentage change.

Table 11.

Papua New Guinea: Consolidated Balance Sheet of Other Depository Corporations, 2006–09

(In millions of kina; end of period)

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

Table 11.

Papua New Guinea: Consolidated Balance Sheet of Other Depository Corporations, 2006–09

(In millions of kina; end of period)

						2006	2007	2008	2009
Net foreign assets						329	1,165	887	1,117
	Foreign assets					430	1,301	1,003	1,309
	Foreign liabilities					101	136	116	192
Reserves						442	1,016	767	808
	CRR accounts					196	262	303	369
	ESA accounts					246	754	464	440
Currency						173	215	251	262
Domestic credit						7,038	8,727	10,480	12,605
	Net credit to central government					1,625	1,305	1,660	890
		Claims on central government				2,252	2,324	3,062	2,787
			Securities			2,241	2,324	3,060	2,787
				Treasury bills		1,012	907	1,504	1,430
				Inscribed stock		1,229	1,417	1,556	1,357
					Inscribed stock of maturity < 3 years	785	905	994	867
					Inscribed stock of maturity > 3 years	444	512	562	490
			Loans			11	0	2	0
	Less: Central government deposits					627	1,019	1,402	1,897
	Claims on other sectors					5,413	7,422	8,820	11,715
			Claims on BPNG			2,437	3,406	3,238	5,165
			Claims on the private sector			2,916	3,954	5,516	6,466
			Claims on official entities			60	61	66	84
				Claims on NFPE’s		57	60	63	80
				Claims on provincial governments		3	1	4	4
			Claims on other financial corporations			0	0	0	0
Other items, net						-1,443	-2,718	-2,967	-3,584
Deposits						6,516	8,382	9,395	11,184
	Demand					3,224	4,176	4,772	4,917
	Term					3,292	4,205	4,623	6,267
Central bank credit						24	24	24	24
Memoranda items:
	Deposits subject to reserve requirements					7,115	9,335	10,730	12,990
	Implied cash reserve ratio (percent)					3	3	3	3
	Kina facility borrowings (-deposits)					0	0	0	0
	Liquid assets					2,216	2,781	3,213	2,998
	Excess ESA balances					246	754	464	440
	Total ODC assets					8,872	11,821	13,962	16,675
	Claims on central government/total assets (percent)					25	20	22	17

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

Table 11.

Papua New Guinea: Consolidated Balance Sheet of Other Depository Corporations, 2006–09

(In millions of kina; end of period)

						2006	2007	2008	2009
Net foreign assets						329	1,165	887	1,117
	Foreign assets					430	1,301	1,003	1,309
	Foreign liabilities					101	136	116	192
Reserves						442	1,016	767	808
	CRR accounts					196	262	303	369
	ESA accounts					246	754	464	440
Currency						173	215	251	262
Domestic credit						7,038	8,727	10,480	12,605
	Net credit to central government					1,625	1,305	1,660	890
		Claims on central government				2,252	2,324	3,062	2,787
			Securities			2,241	2,324	3,060	2,787
				Treasury bills		1,012	907	1,504	1,430
				Inscribed stock		1,229	1,417	1,556	1,357
					Inscribed stock of maturity < 3 years	785	905	994	867
					Inscribed stock of maturity > 3 years	444	512	562	490
			Loans			11	0	2	0
	Less: Central government deposits					627	1,019	1,402	1,897
	Claims on other sectors					5,413	7,422	8,820	11,715
			Claims on BPNG			2,437	3,406	3,238	5,165
			Claims on the private sector			2,916	3,954	5,516	6,466
			Claims on official entities			60	61	66	84
				Claims on NFPE’s		57	60	63	80
				Claims on provincial governments		3	1	4	4
			Claims on other financial corporations			0	0	0	0
Other items, net						-1,443	-2,718	-2,967	-3,584
Deposits						6,516	8,382	9,395	11,184
	Demand					3,224	4,176	4,772	4,917
	Term					3,292	4,205	4,623	6,267
Central bank credit						24	24	24	24
Memoranda items:
	Deposits subject to reserve requirements					7,115	9,335	10,730	12,990
	Implied cash reserve ratio (percent)					3	3	3	3
	Kina facility borrowings (-deposits)					0	0	0	0
	Liquid assets					2,216	2,781	3,213	2,998
	Excess ESA balances					246	754	464	440
	Total ODC assets					8,872	11,821	13,962	16,675
	Claims on central government/total assets (percent)					25	20	22	17

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

Table 12.

Papua New Guinea: Commercial Bank Loans by Sector, 2005–09

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

^{^1/}Includes rubber, tea, and cattle.

^{^2/}Includes printing and packaging.

^{^3/}Includes hotels and restaurants, real estate, renting and business services, electricity, and gas and water supply.

^{^4/}Excludes short-term government debt instruments and other deposits.

Table 12.

Papua New Guinea: Commercial Bank Loans by Sector, 2005–09

				2005	2006	2007	2008	2009	2005	2006	2007	2008	2009
				Sept.					Sept.
				(In millions of kina; end of period)					(In percent of total credit; end-period)
Total				1,797	2,515	3,253	4,601	5,240	100.0	100.0	100.0	100.0	100.0
	Business			1,548	2,185	2,661	3,982	4,600	86.2	86.9	81.8	86.5	87.8
		Agriculture, forestry, and fishing		74	141	121	185	168	4.1	5.6	3.7	4.0	3.2
			Coffee	2	6	3	4	4	0.1	0.3	0.1	0.1	0.1
			Cocoa	10	10	5	6	2	0.5	0.4	0.2	0.1	0.0
			Coconut products	0	0	0	3	0	0.0	0.0	0.0	0.1	0.0
			Palm oil	2	2	24	4	0	0.1	0.1	0.7	0.1	0.0
			Fisheries	22	23	3	4	5	1.2	0.9	0.1	0.1	0.1
			Forestry	18	37	27	27	36	1.0	1.5	0.8	0.6	0.7
			Other ^1/	21	63	59	137	122	1.1	2.5	1.8	3.0	2.3
		Manufacturing		114	124	275	359	425	6.4	4.9	8.5	7.8	8.1
			Engineering and metal processing	25	28	24	26	17	1.4	1.1	0.7	0.6	0.3
			Food, drink, and tobacco processing	45	53	171	255	324	2.5	2.1	5.3	5.5	6.2
			Textile, leather, and wood products	5	10	15	11	13	0.3	0.4	0.5	0.2	0.2
			Chemicals, paints, and gases	4	12	9	5	6	0.2	0.5	0.3	0.1	0.1
			Other ^2/	36	21	57	63	66	2.0	0.8	1.7	1.4	1.3
		Transport and communication		123	202	251	382	486	6.8	8.0	7.7	8.3	9.3
		Finance		28	60	17	19	15	1.6	2.4	0.5	0.4	0.3
		Commerce		438	479	770	1,150	1,170	24.4	19.0	23.7	25.0	22.3
			Retail trade	280	134	498	757	772	15.6	5.3	15.3	16.4	14.7
			Buyers, processors, and exporters	113	42	133	175	180	6.3	1.7	4.1	3.8	3.4
			Wholesale trade	45	303	139	219	217	2.5	12.1	4.3	4.8	4.1
		Building and construction		106	125	207	302	463	5.9	5.0	6.4	6.6	8.8
		Mining and quarrying		14	144	50	101	167	0.8	5.7	1.5	2.2	3.2
			Metals and other mining	14	141	49	100	165	0.8	5.6	1.5	2.2	3.1
			Petroleum and natural gas	0	4	1	1	2	0.0	0.1	0.0	0.0	0.0
		Other business ^3/		652	911	972	1484	1706	36.3	36.2	29.9	32.3	32.6
Government				3	15	8	6	2	0.2	0.6	0.2	0.1	0.0
		Central government ^4/		1	11	0	2	0	0.1	0.5	0.0	0.1	0.0
		Provincial government		1	3	3	3	2	0.1	0.1	0.1	0.1	0.0
		Local government		1	1	5	0	0	0.1	0.0	0.2	0.0	0.0
Persons				246	315	583	613	638	13.7	12.5	17.9	13.3	12.2
		Advances for housing		145	176	199	325	171	8.1	7.0	6.1	7.1	3.3
		Other personal loans		101	140	385	288	467	5.6	5.5	11.8	6.3	8.9

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

^{^1/}Includes rubber, tea, and cattle.

^{^2/}Includes printing and packaging.

^{^3/}Includes hotels and restaurants, real estate, renting and business services, electricity, and gas and water supply.

^{^4/}Excludes short-term government debt instruments and other deposits.

Table 12.

Papua New Guinea: Commercial Bank Loans by Sector, 2005–09

				2005	2006	2007	2008	2009	2005	2006	2007	2008	2009
				Sept.					Sept.
				(In millions of kina; end of period)					(In percent of total credit; end-period)
Total				1,797	2,515	3,253	4,601	5,240	100.0	100.0	100.0	100.0	100.0
	Business			1,548	2,185	2,661	3,982	4,600	86.2	86.9	81.8	86.5	87.8
		Agriculture, forestry, and fishing		74	141	121	185	168	4.1	5.6	3.7	4.0	3.2
			Coffee	2	6	3	4	4	0.1	0.3	0.1	0.1	0.1
			Cocoa	10	10	5	6	2	0.5	0.4	0.2	0.1	0.0
			Coconut products	0	0	0	3	0	0.0	0.0	0.0	0.1	0.0
			Palm oil	2	2	24	4	0	0.1

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