Republic of the Marshall Islands: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of the Marshall Islands

Republic of the Marshall Islands: 2023 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Republic of the Marshall Islands
Volume/Issue: Volume 2023 Issue 349
Publication date: October 2023
ISBN: 9798400255328
$20.00
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Topics covered in this book

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Exports and Imports , Money and Monetary Policy , Public Finance , Business and Economics - Statistics , International - Economics , Environmental Economics , Natural Disasters , authorities in the Republic of Marshall Islands , government benefit , RMI article , RMI parliament's review , RMI authorities , Debt sustainability analysis , Debt sustainability , Climate change , Global , Asia and Pacific , Pacific Islands

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Summary

Real GDP declined by 4.5 percent in FY2022 due entirely to a decline in fisheries. However, excluding the sector, growth was 4.2 percent, fueled by a recovery in domestic demand. Inflation has picked up due to higher food and fuel prices, while the current account surplus narrowed as COVID-related grants declined and the trade deficit widened.

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