Book Description

This 2013 Article IV Consultation highlights that the GDP growth of The Republic of the Marshall Islands (RMI) picked up in FY2012 (fiscal year, ending September 30) to 3.2 percent, lifted by a surge in fishery output and higher copra and coconut oil production. In FY2013, however, growth is expected to have slowed to 0.8 percent, dragged down by delays in the implementation of infrastructure projects. The current account deficit including official transfers remained elevated at 8.1 percent of GDP in FY2012. In FY2014, GDP growth is projected to rebound to 3.2 percent, driven by the resumption of Compact-funded infrastructure projects.