Republic of Palau: Staff Report for the 2014 Article IV Consultation
May 6, 2014
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This 2014 Article IV Consultation highlights that after two years of strong expansion, growth is estimated at about zero percent in the fiscal year 2013 (FY2013, ending in September) in the Republic of Palau owing to declines in construction and tourism. Inflation moderated to 2¾ percent (annual average) in FY2013 thanks to stable international food and fuel prices, and it is expected to stay at about 3 percent in FY2014. Growth is projected to increase to 1¾ percent in FY2014 and to 2¼–2½ percent over the medium term driven by the recovery in tourism and infrastructure developments.
Subject: Economic sectors, Fiscal consolidation, Fiscal policy, Infrastructure, National accounts, Public financial management (PFM), Revenue administration, Tourism
Keywords: Asia and Pacific, authority, CR, Fiscal consolidation, Infrastructure, investor confidence, ISCR, near-term outlook, Pacific Islands, Palau, Palau authorities, PFTAC TA, private sector development, reform, tax reform bill, Tourism
Pages:
45
Volume:
2014
DOI:
Issue:
110
Series:
Country Report No. 2014/110
Stock No:
1PLWEA2014001
ISBN:
9781484370230
ISSN:
1934-7685
