At present, PNG economy is on the edge as the effect of corruption is now being felt by the citizen, foreign workers, and businesses. The lack of foreign currencies is affecting the operation of businesses in the country, whereas, foreign invoices is now being delayed and eventually will result to closure or cease of businesses. Sooner of later there are no more products in the supermarket shelves due to the plan of increasing the 10% VAT to 15% and with the current inflation rate and trade deficit of the country is continuously affecting the economy.
As for the foreign workers, the treasury and central bank of PNG is limiting and restricting all the remittance companies and their remitter in sending their hard earned salaries. There will come a time that our earnings will only evolve here in PNG, as the Kina will continue to decline and almost impossible to send to our families back home. The exchange rate is continuously falling and we need to spend more Kina in buying or trading.
In my seven years of staying here in PNG it is only now that I am experiencing that the life here now is tough and I reckon it is time to move in another place before its too late.
