Kiribati, Nauru, and Tuvalu are party to the Nauru Agreement, which
recently implemented the Vessel Day Scheme, wherein fishing access and
license fees are calculated using the number of days a foreig...
vessel operates within a country’s waters. This new policy combined with
transitory catch improvement caused by El Niño to garner governments
additional domestic revenue that improved the small island economies’
Kiribati National Statistics Office. Pacific Financial
Technical Assistance Centre; Tuvalu Central Statistics
Division; ADB estimates
Higher fishing fees and fish catches overturned original budget
estimates that anticipated deteriorating fiscal balances in all three
economies in 2012 (FY2012 for Nauru). Tuvalu posted a fiscal surplus,
and the Kiribati and Nauru deficits were much smaller than expected,
which at least temporarily eased perennial fiscal strains. It remains to be
seen if higher fishing license revenues will become a permanent feature
of government budgets. If the revenue increases are mostly attributable to
licensing, higher collections may become permanent, but if they largely
reflect El Niño-induced bumper catches, they can be expected to revert to
Sources: Kiribati National Statistics Office. Pacific Financial Technical Assistance Centre ( http://www.pftac.org/) ; Tuvalu Central Statistics Division; ADB estimates
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