The prime minister has said that the country’s economic outlook is looking promising with further improvements to the county’s economy expected going forward. This might come as some good news for the people especially when things have been quite tough with the increases in price of goods and services. Prime Minister (PM) James Marape announced that Papua New Guinea’s economic outlook is showing significant improvement, driven by stronger growth, low and stable inflation, and a substantial easing of foreign exchange (FX) shortages. In addition to this, Marape said the country is also ranked amongst the fastest growing economies in the region with a GDP growth projection of 4.6 percent for 2024 as per the International Monetary Fund (IMF) report. “The FX backlog for essential imports has improved drastically with waiting times for essential orders dropping significantly. BSP Financial Group has reduced wait times from a peak of six-to-eight weeks to just two-to-four weeks, with other banks reporting similar improvements,” said the prime minister. “The Bank of Papua New Guinea is also injecting more FX into the market than ever before. This will help promote investment, jobs, and growth.” PM Marape attributed all these to sound policies and decisions that his government has made so far. “These positive outcomes are the result of taking tough policy decisions, proving that doing the right thing is paying off. Overall, the outlook is bright, with stronger growth, stable inflation, and easing FX shortages leading the way forward.”