Federated States of Micronesia; Selected Issues and Statistical Appendix
This Selected Issues paper on the Federated States of Micronesia (FSM) underlies economic development. Since independence, the FSM has been heavily dependent on assistance from the United States. With government expenditure of more than 60 percent of GDP, the private sector remains underdeveloped, functioning largely as a provider of services to the public sector. Under a comprehensive reform scenario, further budgetary efforts are to be taken, as well as structural reforms. Given the need for fiscal consolidation, tax reform has been the subject of discussion for a number of years, although with little progress to show.
Year of publication: |
2005-03-22
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Institutions: | International Monetary Fund (IMF) ; International Monetary Fund |
Subject: | Economic conditions | Economic growth | Selected issues | Statistical annexes | Tax reforms | Tax revenues | Taxation | employment | private sector employment | fiscal performance | fiscal position | public sector employment | fiscal discipline | capital expenditures | employment growth | fiscal crisis | fiscal balance | public expenditure | employment source | budget deficits | fiscal performances | fiscal control | fiscal policy | government employment | budget deficit | government expenditures | capital expenditure |
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