Republic of Palau: Recent Economic Developments

Author: International Monetary Fund

This paper examines recent economic developments in the Republic of Palau. Palau has made a modest recovery in 2000 and 2001. Real GDP growth has been about 1 percent in 2000 and 2001, after the recession brought about by the Asian crisis reached its trough of negative 5½ percent growth in 1999. This recovery was mainly owing to grant-financed large infrastructure projects. However, the outlook on tourism, Palau's major industry, remains weak owing to the events on September 11, and the expected El Nino, which also threaten the development of tourism-related private sector projects.

Volume/Issue: Volume 2002 Issue 070

Publication date: March 2002

ISBN: 9781451831498

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Topics covered in this book

This title contains information about the following subjects. Click on a subject if you would like to see other titles with the same subjects.

Business and Economics , Exports and Imports , Economics- Macroeconomics , Public Finance , ISCR , CR , wage , Palau , GDP deflator , dollar , independent auditor , gross revenue , customs office , executive branch wage , accounts payable , savings account , wage bill , Palau utility corporation , Income , Foreign direct investment , Imports , Pacific Islands

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Summary

This paper examines recent economic developments in the Republic of Palau. Palau has made a modest recovery in 2000 and 2001. Real GDP growth has been about 1 percent in 2000 and 2001, after the recession brought about by the Asian crisis reached its trough of negative 5½ percent growth in 1999. This recovery was mainly owing to grant-financed large infrastructure projects. However, the outlook on tourism, Palau’s major industry, remains weak owing to the events on September 11, and the expected El Nino, which also threaten the development of tourism-related private sector projects.