Treasurer Ian Ling-Stuckey has assured Papua New Guineans that the country’s economy is performing so much better than the world economy, because of the government’s efforts in put together measures to protect the economy during a period of tough economic times experienced globally. Mr. Ling-Stuckey, when presenting the 2023 Mid- Year Economic and Fiscal Outlook (MYEFO) update in parliament this week, said that the good performance reflects the Take Back PNG stance by the Prime Minister, whereby the government putting together policies and strategies, that have protected the people from the economic downturns facing the rest of the word. According to the Treasurer, the latest IMF World Economic Outlook has confirmed the gloomy and uncertain projections of a year ago, with global growth estimated at only 3.5% in 2022, 3.0% in 2023 and still at 3.0% in 2024. “Indeed, 93% of advanced countries are expected to have lower growth in 2023,” said the Treasurer. “In stark contrast, PNG’s real non- resource growth will reach 4.8% in 2023, higher than the original budget forecast of 4.6%. This is very encouraging news; this is the best measure of how living standards are going in our country.” “Am overall real growth of 4.8% in 2021, 4.6% in 2022 and now 4.8% in 2023,” he said. The Treasurer explained that this is the strongest three- year performance in the non- resource sector since the peak of the PNG LNG construction period. “There is also good news that this strong growth performance is driving job growth. Indeed, job growth is even higher than non- resource growth and is running at 5.3% in 2023.” He went on to say that this is the highest rate of employment increase in more than a decade. “I encourage everyone to listen to the facts. This higher growth is based on the hard work of our people and with this growth, they are creating more jobs for our people,” said Mr. Ling-Stuckey. “We don’t have to wait for the resource projects to start re-growing our economy, we can achieve this growth despite the worst global pandemic in a century and the worst war in Europe since World War two.” Based on these positive facts and growing confidence, the Treasure said that now is also a good time to look at investing in the economy. “Start your SME, plant your new hybrid crops, and go for the new opportunities in labour mobility. The strong growth reflects the opportunities we want for all our people. We are implementing the Pangu- led vision.”