Transcribed
Small Island economies : ASIAN DEVELOPMENT OUTLOOK 2013.
Small island economies
Small Island economies : ASIAN DEVELOPMENT OUTLOOK 2013.
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Higher fishing revenues helped boost GDP growth and fiscal positions in the otherwise import- and aid-
dependent small Pacific island economies of Kiribati, Nauru, and Tuvalu. Australia’s reopened ...
Regional
Processing Centre in Nauru and externally funded projects in Kiribati and Tuvalu are expected to boost
growth in 2013. Inflation is seen reappearing after a 3-year absence as growth accelerates and the impact
of the stronger Australian dollar wanes. Paramount concerns are the longer-term sustainability of growth
and intergenerational equity. ----- Kiribati faces some major development constraints. Limited natural resources, especially land and freshwater, hamper development across widely scattered and sparsely populated islands, making access to international markets difficult and creating little potential for economies of scale.
ADB's country partnership strategy, 2010-2014, for Kiribati aims to reduce poverty and promote economic opportunity by improving public financial management and delivering sustainable infrastructure services --------- Like other countries in the Pacific region, the global economic crisis has had a profound effect on Tuvalu, causing growth to slow significantly. The government is making efforts to curb spending, contain the deficit, and build its budget reserves to help smooth volatile revenue flows and provide a fiscal buffer in the event of shocks. --------Nauru's economy, which depends heavily on foreign development grants, phosphate exports, and fishing revenues, remains fragile.
----------------Sources : Asian Development Outlook Database - http://www.adb.org/sites/default/files/ado2013-small-island-economies.pdf
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