Federated States of Micronesia Public Expenditure Analysis
World Bank (2016-06-29). Federated States of Micronesia Public Expenditure Analysis. World Bank, Washington, DC.
- Has attachment: File:G2Z4AAXA.pdf
Abstract: Over the past five years, the economy contracted by an average of 0.2 percent, while inflation (largely imported) remained steady, averaging 3.4 percent...
With a population of around 100,000, an economy of US$318 million in FY2014, and ranking in the top decile of global remoteness indicators, the FSM is one of the smallest countries and among the most remote in the world...
A host of structural factors, such as the federal structure, grant management system, and rigidity of fiscal policy, renders economic management highly complex...
Poverty has regressed and remains concentrated in Chuuk, raising questions around the efficiency and equity of public expenditure policy...
Similarly, weak and varying human development outcomes across the country also suggest room for improving the effectiveness of public spending to support long-term economic development...
Macroeconomic stability is hampered by the FSM’s high exposure to external shocks...
Economic stability could be supported through enhanced domestic revenue mobilization and strengthening reserve asset management...
Given the importance of the public sector to the economy, improving the quality of core public expenditure, such as the wage bill, is important to providing efficient service delivery...
Extra details:
DOI: 10.1596/28441 OpenAlex: W4244505844
