KOROR, Palau—The Koror State Legislature has proposed a $10.9 million budget for fiscal year 2024, which would replace the Interim Budget beginning in April this year. The spending plan authorizes $10,935,000 but appropriates $10,655,000. The difference reflects anticipated revenue that may not be fully realized. The funding sources include a $2.5 million national block grant, […]
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2023 was not Palau’s year, 2024 looks positive
Inflation in Palau in 2023 was at an ultimate high, attributed to the introduction of the Palau Goods and Services Tax (PGST) and the country’s reliance on imports, the World Bank’s Pacific Economic Outlook update. The report said Palau, which relies mostly on imported energy, food, and fuel, has a “historically high Inflation.” However, the […]
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Palau murder case
Charges reduced in Plea Deal KOROR, Palau – Murder charges against four Chinese nationals were dismissed in a plea agreement reached this week, resolving a case stemming from the December 2023 death of another Chinese national, 37-year-old Peng-Li. The four defendants, Liu Xiaoyn, Fang Ye, Li Xinyu, and Li Songyan, were initially charged with second-degree […]
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Palau’s government debt stands at 60% of GDP in 2023
Koror, Palau – Palau’s government debt reached $191.6 million in 2023, equivalent to 60% of the country’s gross domestic product (GDP). This figure combines both national government debt and debt held by state-owned enterprises (SOEs). National Government Debt: The national government owed $129.1 million in 2023. A significant portion of this debt ($90 million) is […]
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Whipps Announces US Congress Passage of Compact Review Agreement
Koror, Palau — Palau President Surangel Whipps Jr. briefed Palau’s leadership yesterday on the successful passage of the Compact Review Agreement through the United States Congress. This development marks a significant milestone in bilateral relations between the two nations and represents a notable achievement for his administration. “Two things, the Compact Agreement funding was double […]
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Omung Women’s Group’s Green Thumb Beautifies Palau Airport Entrance
Omung (bloom), a non-government organization of women who share a love and interest in horticulture, is lending their love of flowers and talented green thumbs to beautify the welcome sign on the hillside of the Palau International Airport. Lorraine, an Omung member, emphasized the importance of leaving a lasting positive impression on visitors. “It is […]