Prime Minister, James Marape has welcomed the strong revenue performance recorded by the Internal Revenue Commission (IRC) in the first quarter of 2026.
He described it as clear evidence that Papua New Guinea’s economy is strengthening through deliberate reforms and disciplined management as the nation enters its 50th year of Independence.
Related news: https://www.pmnec.gov.pg/prime-minister-marape-welcomes-strong-irc-revenue-growth-as-png-into-its-50th-year/
According to figures released by the IRC, first-quarter collections reached approximately K3.7 billion, exceeding forecast targets and reflecting increased business activity, improved tax compliance, and stronger enforcement measures.
Prime Minister Marape said the positive result was encouraging for Government, business, and the people of Papua New Guinea.
“This is a very strong start to the year and confirms that our economy is moving in the right direction,” Prime Minister Marape said.
“The increase in revenue is not accidental or coincidental. It is the outcome of strategic decisions we have made since 2019 to reform the economy, grow domestic production, expand infrastructure, and restore confidence.”
Prime Minister Marape said Government interventions over recent years had focused on rebuilding the productive sectors of the economy, particularly agriculture, infrastructure, and private sector growth.
“Our focus on agriculture, our investment in Connect PNG, and the opening up of all parts of the country through roads, bridges, ports, and power links are creating real economic activity,” he said.
“Construction is taking place nationwide, businesses are expanding, workers are being paid, and money is circulating throughout the economy.”
He said more than 30,000 jobs had been supported through nationwide economic activity linked to infrastructure and private investment.
Prime Minister Marape said the Government had pursued growth while also easing the burden on ordinary wage earners and families.
“We removed personal income tax for low-income workers earning under K20,000 a year, allowing them to keep more of their income,” he said.
“We also gave relief through fuel measures and removed GST from 13 essential household items to help families facing cost-of-living pressures.”
He said it was significant that revenue growth had occurred even while Government reduced certain taxes and charges.
“That means the economy is growing from stronger fundamentals, not simply from increasing taxes.”
Prime Minister Marape said reforms in the resource sector were beginning to deliver stronger returns, including the reopening of Porgera Gold Mine under improved national terms and the continued success of Ok Tedi Mining Limited.
“Ok Tedi has confirmed operations can continue through to 2095, while future projects such as Wafi-Golpu and Papua LNG will add to growth when concluded in the national interest,” he said.
Prime Minister Marape said the Government had also made major progress in restoring fiscal discipline, reducing the budget deficit from 8.9 per cent during the COVID-19 period in 2020 to around 1.1 per cent this year.
“We remain on track toward a balanced budget next year, while continuing to restructure and pay down debt responsibly,” he said.
As Papua New Guinea enters its 50th year of Independence, Prime Minister Marape said the strong IRC revenue result should give confidence that the nation is entering a new phase of growth.
“This result should assure our people that the hard decisions we made are beginning to bear fruit,” he said.
“We are laying the foundation not only for today, but for the next 50 years of Papua New Guinea’s development.”