PORT MORESBY. Nov 10: The Papua New Guinea government expects its minerals driven economy to grow by 11.5 per cent in 1993. Prime Minister Palas Wingti p- Id yesterday. reports Reuter.

The forecast growth follows 9.0 per cent growth in gross domestic product in both the 1992 and 1991 calender year and compares with zero growth in 1990. When civil disturbances forced closure of the giant Bougainville Copper mine on Bougainville Island.

"Estimated domestic economic growth of 11.5 per cent this year in Papua New Guinea will exceed that of rrtost neighbouring countries." Wingti told parliament.

"A growth figure of that level puts us up with the economic in’ereases in the so-called ‘tiger’ economies of East Asia," Wingti said in a speech ahead of next Tuesday’s 1994 budget.

"Naturally, the ’tiger’ economies have a much stronger economic base form which to start." he said.

"However, if we are to provide our people infrastructure. Jobs and services, then we must aim for at least double-digit economic growth."

Wingti said Papua New Guinea's balance-of-payments situation had improved dramatically. since oil from the Kutubu oi| project had come on line and there had been growth forestry products.

Papua New Guinea is a major exporter of gold and copper and produces cocoa, coffee and copra.

"Increased exports, coupled with decreased imports, have seen the trade balance improved from a surplus of kina 565 million one kina one US dollar in 1992 to kina 1.2 billion in 1993, a 166 per cent improvement." Wingti said.

Wingti said the country's overall balance of payments situation was expected to show a surplus of kina 253 million in 1993. up from a deficit of kina 68 million in 1992.

Wingti said the kina was expected to maintain its current levels within a small band.