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Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
ISBN: 1484397916
Category : Business & Economics
Languages : en
Pages : 63
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Book Description
This Article IV Consultation discussions with the Republic of Palau focused on ensuring long-term fiscal sustainability, making potential growth more resilient and sustainable, and preserving financial stability and facilitating credit extension. The consultation discussions also highlight that the main economic policy priorities for Palau are to develop a medium-term fiscal framework and strategy to help manage fiscal risks and the expiration of the Compact grants, to raise public investment, to protect social spending, to make growth more resilient and sustainable through other reforms, and to preserve financial stability and integrity. The current fiscal policy approach is based on the legal requirement to maintain a balanced or surplus cash flow for various parts of the budget. While this fiscal policy strategy has resulted in overall budget surpluses and a decline in net debt, the move to a medium-term fiscal framework and strategy would help Palau to address future challenges.
Author: International Monetary
Publisher: International Monetary Fund
ISBN: 1616357185
Category : Business & Economics
Languages : en
Pages : 76
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Book Description
The COVID-19 pandemic and related containment measures have severely impacted the economy. Border closure and the suspension of commercial flights curtailed tourist arrivals. Real GDP contracted by 9.7 percent in FY2020, notwithstanding policy support. The economic contraction is estimated to have deepened in FY2021, and a gradual recovery is expected in FY2022 as tourism activities resume. While Palau’s public debt remains sustainable, the economic fallout of the pandemic and the cost of the fiscal response have led to a sharp deterioration of the fiscal position and a rapid increase in public debt. The high share of concessional loans from multilateral creditors in Palau’s external debt is an important risk mitigating factor. Palau is vulnerable to climate change and natural disasters.
Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
ISBN: 1484397916
Category : Business & Economics
Languages : en
Pages : 63
Get Book
Book Description
This Article IV Consultation discussions with the Republic of Palau focused on ensuring long-term fiscal sustainability, making potential growth more resilient and sustainable, and preserving financial stability and facilitating credit extension. The consultation discussions also highlight that the main economic policy priorities for Palau are to develop a medium-term fiscal framework and strategy to help manage fiscal risks and the expiration of the Compact grants, to raise public investment, to protect social spending, to make growth more resilient and sustainable through other reforms, and to preserve financial stability and integrity. The current fiscal policy approach is based on the legal requirement to maintain a balanced or surplus cash flow for various parts of the budget. While this fiscal policy strategy has resulted in overall budget surpluses and a decline in net debt, the move to a medium-term fiscal framework and strategy would help Palau to address future challenges.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451831498
Category : Business & Economics
Languages : en
Pages : 47
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Book Description
This paper examines recent economic developments in the Republic of Palau. Palau has made a modest recovery in 2000 and 2001. Real GDP growth has been about 1 percent in 2000 and 2001, after the recession brought about by the Asian crisis reached its trough of negative 51⁄2 percent growth in 1999. This recovery was mainly owing to grant-financed large infrastructure projects. However, the outlook on tourism, Palau’s major industry, remains weak owing to the events on September 11, and the expected El Nino, which also threaten the development of tourism-related private sector projects.
Author: Asian Development Bank
Publisher: Asian Development Bank
ISBN: 9292577565
Category : Business & Economics
Languages : en
Pages : 68
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Book Description
Palau's economy expanded strongly, with real gross domestic product (GDP) rising 5.3% in 2014 and 8.2% in 2015. Per capita GDP also increased; at the end of fiscal year 2015 it was in excess of $16,000---the highest among Asian Development Bank developing members in the Pacific. This strong performance, however, masks urgent issues threatening the sustainability of Palau's economy. This private sector assessment is based on in-depth consultation with the government and private sector. It recommends further reform, most notably in the areas of tourism policies and business law, as well as in the agriculture and finance sectors. It suggests that Palau's state-owned enterprises are inefficient and need to operate on commercial principles. Measures to promote equal access to economic opportunities for women and fiber optic connectivity with other countries are also provided.
Author: Keon Lee
Publisher:
ISBN: 9780119861174
Category : Balance of payments
Languages : en
Pages : 40
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Book Description
Dated December 1999.
Author: International Monetary Fund
Publisher: International Monetary Fund
ISBN: 1451831463
Category : Business & Economics
Languages : en
Pages : 41
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Book Description
This paper provides a review of recent economic developments in Palau, covering the first five years of the Compact of Free Association (Compact) with the United States. The paper analyzes the economic growth, prices, wages, and employment. The study assesses the public finances and overall developments, which include revenues and grants, expenditure, local governments, trust funds, and nonfinancial public enterprises. The paper provides a detailed study of the financial and external sectors, current and capital accounts, external debt, and exchange and trade systems.
Author:
Publisher:
ISBN:
Category : Palau
Languages : en
Pages : 292
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Book Description
Author: International Monetary Fund. Asia and Pacific Dept
Publisher: International Monetary Fund
ISBN: 1484370961
Category : Business & Economics
Languages : en
Pages : 27
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Book Description
This Selected Issues paper describes Palau’s fiscal challenges and policy options to achieve long-term fiscal sustainability. Palau relies heavily on compact grants, and without continued fiscal consolidation over the medium term, the fiscal position will become unsustainable after these grants expire in FY2024. The fiscal sustainability analysis uses an intertemporal budget constraint model to show that reducing the current deficit excluding grants by about 8 percentage points of GDP during FY2014–19 would ensure Palau’s long-term fiscal sustainability. The paper also discusses the role of tourism in Palau and identifies policy priorities to further promote this sector and sustain growth.
Author: International Monetary Fund
Publisher: INTERNATIONAL MONETARY FUND
ISBN: 9781451831535
Category :
Languages : en
Pages : 44
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Book Description
This 2005 Article IV Consultation highlights that Palau's economic growth has picked up in recent years while inflation has been low. After several years of slow growth, real GDP grew by 5 percent in FY2004 and FY2005, driven by a steady increase in visitor arrivals with the start of new airline routes and hotels. Economic prospects in the near term remain upbeat but are uncertain in the longer term. Tourism will continue to be a main source of near-term growth while ongoing externally financed large infrastructure projects will support construction and other services.
Author: OECD
Publisher: OECD Publishing
ISBN: 9264816917
Category :
Languages : en
Pages : 221
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Book Description
The OECD Economic Outlook, Volume 2021 Issue 1, highlights the improved prospects for the global economy due to vaccinations and stronger policy support, but also points to uneven progress across countries and key risks and challenges in maintaining and strengthening the recovery.
