Federated States of Micronesia: 2012 Article IV Consultation
Electronic Access:
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Summary:
The Federated States of Micronesia (FSM) is highly dependent on external aid. Following a recession in FY2006–08, the FSM economy has grown by 2–2½ percent for FY2010 and FY2011. The economy remains dependent on the large public sector, although the fisheries and agriculture sectors have shown signs of growth. Despite some deterioration in current account balance, external balance also has sustained a stable flow of official transfers. However, economic growth is likely to slow in the near term owing to a decline in public sector demand.
Series:
Country Report No. 2013/016
Subject:
Economic sectors Expenditure Fiscal consolidation Fiscal policy Inflation Prices Public enterprises Revenue administration
English
Publication Date:
January 17, 2013
ISBN/ISSN:
9781475548600/1934-7685
Stock No:
1FSMEA2013001
Pages:
48
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