Kiribati: 2015 Article IV Consultation-Press Release; and Staff Report:
KEY ISSUES Context. Donor-financed large infrastructure projects, increased public spending, and a pick-up in credit to households have boosted real GDP growth to close to 4 percent in 2014 and to about 3 percent in 2015. Inflation remains low, underpinned by lower food and commodity prices. Steps a...
Gespeichert in:
| Körperschaft: | |
|---|---|
| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2015
|
| Schriftenreihe: | IMF Staff Country Reports: Country Report No. 15 / 207
|
| Schlagworte: | |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | KEY ISSUES Context. Donor-financed large infrastructure projects, increased public spending, and a pick-up in credit to households have boosted real GDP growth to close to 4 percent in 2014 and to about 3 percent in 2015. Inflation remains low, underpinned by lower food and commodity prices. Steps are being taken to reduce the many hurdles to private growth that Kiribati faces, among which are high transportation and communication costs and an increasing impact of climate change. Fiscal policy. The fiscal outlook has improved, but further efforts are needed to ensure sustainability. The recurrent balance was in large surplus in 2014 and is expected to remain positive in 2015, reflecting high revenue from license fees, and notwithstanding a large increase in expenditures. But under the historic pace of spending the sovereign wealth fund (Revenue Equalization Reserve Fund-RERF) would be depleted in about 20 years. Ensuring sustainability requires containing nominal expenditure growth to around 1½ per annum over the next five years (after accommodating climate-change-related costs), with transparent and symmetric transfers and withdrawals from the RERF around this path. Structural reforms. There is a consensus among donors that significant progress has been achieved. The State-Owned Enterprise (SOE) Reform Act is being implemented in a satisfactory way, as illustrated by the recent successful privatization of the telecommunication company. Key outstanding issues include further reforming the energy and copra sectors and improving the investment climate |
| Beschreibung: | Description based upon print version of record |
| Beschreibung: | 1 Online-Ressource (53 p) |
| ISBN: | 1513526804 9781513526805 |
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| index_date | 2024-07-03T20:13:37Z |
| indexdate | 2024-07-10T09:35:47Z |
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| oclc_num | 1337118797 |
| open_access_boolean | |
| owner | DE-20 DE-824 DE-70 DE-155 DE-BY-UBR DE-29 DE-22 DE-BY-UBG DE-473 DE-BY-UBG DE-1102 DE-703 DE-859 DE-706 DE-384 DE-860 DE-19 DE-BY-UBM DE-739 DE-355 DE-BY-UBR DE-Aug4 DE-1049 DE-12 DE-91 DE-BY-TUM |
| owner_facet | DE-20 DE-824 DE-70 DE-155 DE-BY-UBR DE-29 DE-22 DE-BY-UBG DE-473 DE-BY-UBG DE-1102 DE-703 DE-859 DE-706 DE-384 DE-860 DE-19 DE-BY-UBM DE-739 DE-355 DE-BY-UBR DE-Aug4 DE-1049 DE-12 DE-91 DE-BY-TUM |
| physical | 1 Online-Ressource (53 p) |
| psigel | ZDB-1-IMF |
| publishDate | 2015 |
| publishDateSearch | 2015 |
| publishDateSort | 2015 |
| publisher | International Monetary Fund |
| record_format | marc |
| series2 | IMF Staff Country Reports: Country Report No. 15 / 207 |
| spelling | International Monetary Fund. Asia and Pacific Dept Verfasser aut Kiribati: 2015 Article IV Consultation-Press Release; and Staff Report International Monetary Fund. Asia and Pacific Dept Washington, D.C International Monetary Fund 2015 1 Online-Ressource (53 p) txt rdacontent c rdamedia cr rdacarrier IMF Staff Country Reports: Country Report No. 15 / 207 Description based upon print version of record KEY ISSUES Context. Donor-financed large infrastructure projects, increased public spending, and a pick-up in credit to households have boosted real GDP growth to close to 4 percent in 2014 and to about 3 percent in 2015. Inflation remains low, underpinned by lower food and commodity prices. Steps are being taken to reduce the many hurdles to private growth that Kiribati faces, among which are high transportation and communication costs and an increasing impact of climate change. Fiscal policy. The fiscal outlook has improved, but further efforts are needed to ensure sustainability. The recurrent balance was in large surplus in 2014 and is expected to remain positive in 2015, reflecting high revenue from license fees, and notwithstanding a large increase in expenditures. But under the historic pace of spending the sovereign wealth fund (Revenue Equalization Reserve Fund-RERF) would be depleted in about 20 years. Ensuring sustainability requires containing nominal expenditure growth to around 1½ per annum over the next five years (after accommodating climate-change-related costs), with transparent and symmetric transfers and withdrawals from the RERF around this path. Structural reforms. There is a consensus among donors that significant progress has been achieved. The State-Owned Enterprise (SOE) Reform Act is being implemented in a satisfactory way, as illustrated by the recent successful privatization of the telecommunication company. Key outstanding issues include further reforming the energy and copra sectors and improving the investment climate Online-Ausg Electronic books International Monetary Fund. Asia and Pacific Dept Sonstige oth http://www.elibrary.imf.org/view/IMF002/22724-9781513526805/22724-9781513526805/22724-9781513526805.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Kiribati: 2015 Article IV Consultation-Press Release; and Staff Report |
| title | Kiribati: 2015 Article IV Consultation-Press Release; and Staff Report |
| title_auth | Kiribati: 2015 Article IV Consultation-Press Release; and Staff Report |
| title_exact_search | Kiribati: 2015 Article IV Consultation-Press Release; and Staff Report |
| title_exact_search_txtP | Kiribati: 2015 Article IV Consultation-Press Release; and Staff Report |
| title_full | Kiribati: 2015 Article IV Consultation-Press Release; and Staff Report International Monetary Fund. Asia and Pacific Dept |
| title_fullStr | Kiribati: 2015 Article IV Consultation-Press Release; and Staff Report International Monetary Fund. Asia and Pacific Dept |
| title_full_unstemmed | Kiribati: 2015 Article IV Consultation-Press Release; and Staff Report International Monetary Fund. Asia and Pacific Dept |
| title_short | Kiribati: 2015 Article IV Consultation-Press Release; and Staff Report |
| title_sort | kiribati 2015 article iv consultation press release and staff report |
| url | http://www.elibrary.imf.org/view/IMF002/22724-9781513526805/22724-9781513526805/22724-9781513526805.xml |
| work_keys_str_mv | AT internationalmonetaryfundasiaandpacificdept kiribati2015articleivconsultationpressreleaseandstaffreport |