ENGLISH

Private Sector Assessment for Palau : Policies for Sustainable Growth Revisited

By Asian Development Bank

Book information

Publisher
Asian Development Bank Institute
Year
2017
ISBN
9789292577568, 9789292577551
LCC
HC682.7.A853 2017eb
Language
english
Format
EPUB
Filesize
3 MB (3271505 bytes)
Series
Country Sector and Thematic Assessments Ser.
Edition
1
Pages
69\0
Time added
2023-08-18 19:12:55
Palau-Economic conditions

Description

Palau's economy expanded strongly, with real gross domestic product (GDP) rising 5.3% in 2014 and 8.2% in 2015. Per capita GDP also increased; at the end of fiscal year 2015 it was in excess of $16,000---the highest among Asian Development Bank developing members in the Pacific. This strong performance, however, masks urgent issues threatening the sustainability of Palau's economy. This private sector assessment is based on in-depth consultation with the government and private sector. It recommends further reform, most notably in the areas of tourism policies and business law, as well as in the agriculture and finance sectors. It suggests that Palau's state-owned enterprises are inefficient and need to operate on commercial principles. Measures to promote equal access to economic opportunities for women and fiber optic connectivity with other countries are also provided.

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