October 10, two American economists were invited to address and present to high officials of Palau’s government the potential scenarios of Palau’s economic development in the years to come. Both Jason Aubuchon and Kevin O Keefe specialize in economic and statistical issues of the freely associated states. They presented three potential future scenarios for Palau’s […]
Tag: economy
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Future is economy not on compact dependence: Remengesau
“Growing the economy is the future of Palau, not the dependence on the Compact”, expressed President Remengesau at this week’s press conference, reiterating his statements at the State of the Republic Address which calls for greater ownership and responsibility for Palau’s own development. “Budget should not be contingent on the amount of money we receive […]
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IMF supports Palau’s tax reform plan
The Intentional Monetary Fund (IMF) has thrown its support behind the Palau government’s plan put in place, which will modernize and increase the efficiency and fairness of the tax system. The IMF completed its 2018 Article IV mission last week and that it welcomed the nation’s plan to develop a “medium-term fiscal framework and to […]
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Palau’s economy recovering moderately-IMF
Palau’s economy is recovering moderately despite the continuing tourism decline, with growth boosted by construction related to infrastructure projects, according to the International Monetary Fund (IMF) 2018 Article IV Mission report. An IMF team, led by Ms. Yuko Kinoshita on Nov. 7 held a media briefing to conclude it’s visit to Koror from October 25 […]
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Due to weak tourism, ADB cuts Palau economic growth forecast
The Asian Development Bank (ADB) revised its economic growth for Palau for 2018 to 3 percent to 1 percent due to a slow down in Palau’s recovery in tourism adding that 2019 economic performance is also projected lower “due to uncertainties surrounding tourism.” The third quarter of Fiscal Year 2018 has posted a 9.8 percent […]
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Construction boom in Palau to spur economic growth
A construction boom in Palau is seen as driving economic growth for 2019 despite a slight tourism slump in 2018, according to next fiscal year’s economic outlook. The 2019 economic outlook, which was submitted with the proposed Fiscal year 2019 spending package, stated that next year’s economic development is expected to be “favorable,” projecting an […]