Transcribed
Small island economies : Selected economic indicators (Kiribati, Nauru, Tuvalu)
Small island economies 3.38.1 Selected economic indicators (%) Kiribati 2013 2014 GDP growth 3.5 3.5 Inflation 3.0 3.0 Current account balance -23.9 -20.0 (share of GDP) Nauru GDP growth 8.0 8.0 Inflation 0.5 2.5 Current account balance (share of GDP) Tuvalu GDP growth 1.3 1.5 Inflation 2.0 2.0 Current account balance -3.3 (share of GDP) . = data not available. Source: ADB estimates.
Small island economies : Selected economic indicators (Kiribati, Nauru, Tuvalu)
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Kiribati’s economy is projected to grow by 3.5% in 2013 and 2014 as
construction picks up to implement projects funded by development
partners: upgrading airports at Tarawa and Kiritimati, upgradi...
ng the
South Tarawa Road, and extending Betio Port. In Tuvalu the airport
upgrade, also funded by development partners, and continued retail
expansion will drive economic growth of 1.3% in 2013 and 1.5% in 2014.
The recent trend of low inflation is expected to continue. Although
the impact of a strengthening Australian dollar has probably ended,
international food and fuel prices are expected to decline. Over 2013 and
2014, inflation is projected to remain at about 3% in Kiribati and 2% in
Tuvalu. For Nauru, inflation is projected at a low 0.5% in FY2013, before
rising to 2.5% in FY2014.
Island governments plan fiscal expansion to help support economic
growth in the near term. In Nauru, the FY2013 budget already
incorporates an expansionary stance supported by higher-than-expected
revenues from fishing licenses and continued aid flows. As the reopening
of the RPC will mean higher visa fees, fuel sales, and customs duty
collections, the expansionary fiscal stance has been further amplified, and
domestic expenditure will be almost double in FY2013. Fiscal expansion
is also expected in Kiribati and Tuvalu, driven by planned increases in
recurrent expenditures and by capital spending associated with ongoing
infrastructure projects.
Source: ADB estimates ( http://www.adb.org/sites/default/files/ado2013-small-island-economies.pdf )
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