The National Informal Economy Policy 2011-2015
This policy document provides strategic direction for the implementation of the Informal Sector Development and Control Act 2004 of Papua New Guinea (PNG). It highlights the contributions of the informal economy and the need for its constructive development.
The document notes that according to the 2000 census, a clear majority of households in PNG earn income from informal economic activities. It states that the vision of the policy is to see the informal economy acknowledged as a legitimate partner of the formal economy in PNG. The document discusses:
- Mission, principles and objectives of the policy;
- Priority areas in strategy to support informal economy, namely, financial inclusion and provision of public goods and services;
- Strategy and action points in priority areas;
- Role of various stakeholders in policy implementation.
The policy presents six roads to financial inclusion including agent banking, mobile phone banking, diversifying providers, reforming public banks, building financial identities and consumer protection. It identifies public goods and services which are particularly essential for households in the informal economy and states that the government should prioritize their provision.
