Federated States of Micronesia Public Expenditure Analysis : Getting Ready for 2024
The Federated States of Micronesia (FSM) has a very narrow production base, with subsistence agriculture and fisheries and the public sectors dominating the economy, both with regard to employment and value added. The contribution of institutional...
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World Bank, Washington, DC
2017
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| Online Access: | http://documents.worldbank.org/curated/en/459201506345399463/Getting-ready-for-2024 http://hdl.handle.net/10986/28441 |
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okr-10986-284412021-06-14T10:10:27Z Federated States of Micronesia Public Expenditure Analysis : Getting Ready for 2024 World Bank MACROECONOMIC POLICY PUBLIC EXPENDITURE FISCAL TRENDS PUBLIC INVESTMENT MANAGEMENT EDUCATION HEALTH The Federated States of Micronesia (FSM) has a very narrow production base, with subsistence agriculture and fisheries and the public sectors dominating the economy, both with regard to employment and value added. The contribution of institutional sectors to growth suggests that private enterprises relied on the public sector for growth opportunities and households tended to fall back to subsistence when growth slows. Growth accelerations and decelerations were largely influenced by the implementation of the U.S. funded airport upgrade project and Compact grants although over the long run, the net effect of public investment on growth has been small. Economic growth and international competitiveness are severely constrained by the country’s small size, remoteness, geographic isolation and dispersion, and thin institutional and human capacity. This Public Expenditure Review (PER) is aimed at filling a knowledge gap to support the Government of FSM (GoFSM) in improving the design of public expenditure policies to address these key challenges. The main recommendations of this PER to support the GoFSM in addressing the aforementioned challenges are centered on how to (a) improve public expenditure management to support macroeconomic stability and growth, and (b) improve public expenditure management to support efficient, effective, and equitable service delivery. The PER is composed of a concise set of chapters analyzing macroeconomic and fiscal trends, intergovernmental relationships, public investment management (PIM) issues, and the two largest expenditure sectors: education and health. Data limitations may result in some inaccuracies and inadvertent distortions in outcomes. 2017-10-03T20:21:51Z 2017-10-03T20:21:51Z 2016-06-29 Report http://documents.worldbank.org/curated/en/459201506345399463/Getting-ready-for-2024 http://hdl.handle.net/10986/28441 English en_US CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank World Bank, Washington, DC Economic & Sector Work :: Public Expenditure Review Publications & Research East Asia and Pacific Micronesia, Federated States of |
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Digital Repository |
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Foreign Institution |
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Digital Repositories |
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World Bank Open Knowledge Repository |
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World Bank |
| language |
English en_US |
| topic |
MACROECONOMIC POLICY PUBLIC EXPENDITURE FISCAL TRENDS PUBLIC INVESTMENT MANAGEMENT EDUCATION HEALTH |
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MACROECONOMIC POLICY PUBLIC EXPENDITURE FISCAL TRENDS PUBLIC INVESTMENT MANAGEMENT EDUCATION HEALTH World Bank Federated States of Micronesia Public Expenditure Analysis : Getting Ready for 2024 |
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East Asia and Pacific Micronesia, Federated States of |
| description |
The Federated States of Micronesia (FSM)
has a very narrow production base, with subsistence
agriculture and fisheries and the public sectors dominating
the economy, both with regard to employment and value added.
The contribution of institutional sectors to growth suggests
that private enterprises relied on the public sector for
growth opportunities and households tended to fall back to
subsistence when growth slows. Growth accelerations and
decelerations were largely influenced by the implementation
of the U.S. funded airport upgrade project and Compact
grants although over the long run, the net effect of public
investment on growth has been small. Economic growth and
international competitiveness are severely constrained by
the country’s small size, remoteness, geographic isolation
and dispersion, and thin institutional and human capacity.
This Public Expenditure Review (PER) is aimed at filling a
knowledge gap to support the Government of FSM (GoFSM) in
improving the design of public expenditure policies to
address these key challenges. The main recommendations of
this PER to support the GoFSM in addressing the
aforementioned challenges are centered on how to (a) improve
public expenditure management to support macroeconomic
stability and growth, and (b) improve public expenditure
management to support efficient, effective, and equitable
service delivery. The PER is composed of a concise set of
chapters analyzing macroeconomic and fiscal trends,
intergovernmental relationships, public investment
management (PIM) issues, and the two largest expenditure
sectors: education and health. Data limitations may result
in some inaccuracies and inadvertent distortions in outcomes. |
| format |
Report |
| author |
World Bank |
| author_facet |
World Bank |
| author_sort |
World Bank |
| title |
Federated States of Micronesia Public Expenditure Analysis : Getting Ready for 2024 |
| title_short |
Federated States of Micronesia Public Expenditure Analysis : Getting Ready for 2024 |
| title_full |
Federated States of Micronesia Public Expenditure Analysis : Getting Ready for 2024 |
| title_fullStr |
Federated States of Micronesia Public Expenditure Analysis : Getting Ready for 2024 |
| title_full_unstemmed |
Federated States of Micronesia Public Expenditure Analysis : Getting Ready for 2024 |
| title_sort |
federated states of micronesia public expenditure analysis : getting ready for 2024 |
| publisher |
World Bank, Washington, DC |
| publishDate |
2017 |
| url |
http://documents.worldbank.org/curated/en/459201506345399463/Getting-ready-for-2024 http://hdl.handle.net/10986/28441 |
| _version_ |
1764466827183783936 |