Papua New Guinea (PNG) has received the highest commendation from two of the worlds renowned financial institutions for its fiscal discipline and economic management, a credit to the Marape- Rosso Government’s economic policies and measures.

Prime Minister James Marape was honored to receive such feedback from the International Monitory Fund (IMF) and the World Bank during the high- level meetings with global financial institutions at the recent 2026 World Economic Forum in Davos, Switzerland, where PNG’s progress in reducing its Budget Deficit was praised.

“When I told them, we are down to around a 1.1 percent deficit, they were pleasantly surprised,” Prime Minister Marape said in a press conference after returning to Port Moresby city.

He reaffirmed the Government’s commitment to delivering a balanced Budget and ending new borrowing.

“Next year, there will be no more borrowing. We will move into a balanced Budget and focus on debt repayment,” he said.

Prime Minister Marape said PNG’s Medium-Term goal is to reduce Debt-to-GDP levels below 20 percent over the coming years.

“In a world where many countries are operating with deficits above five percent and debt above 80 percent of GDP, PNG is taking a disciplined path,” he said.

He said the IMF and World Bank acknowledged PNG’s post-COVID recovery strategy and fiscal consolidation efforts.

“They encouraged us to keep producing, exporting, and growing our economy,” he said.

The Prime Minister added that this international confidence strengthens PNG’s credibility with investors and development partners.