Republic of the Marshall Islands: Selected Issues and Statistical Appendix

June 17, 2008

Summary

The strategy that has the best chance of allowing the Republic of Marshall Islands (RMI) to achieve fiscal sustainability after FY2023 involves substantial fiscal consolidation. The alternative (policy action) scenario involves a substantial fiscal adjustment starting in FY2009. Projections show that this strategy can succeed in achieving budgetary self-sufficiency. Fiscal consolidation will be difficult, and will have to be accompanied by structural reforms to improve real growth. Substantial fiscal consolidation in the short term is necessary to achieve budgetary self-sufficiency after 2023.

Subject: Extra-budgetary funds, Fiscal consolidation, Fiscal policy, Fiscal sustainability, Public financial management (PFM), Revenue administration, Tax administration core functions

Keywords: CR, CTF, CTF balance, CTF committee, CTF contribution, CTF income, CTF investment, Extra-budgetary funds, Fiscal consolidation, Fiscal sustainability, Global, ISCR, Pacific Islands, regime, RMI government, Tax administration core functions

Pages:
36
Volume:
2008
DOI:
https://doi.org/10.5089/9781451825947.002
Issue:
186
Series:
Country Report No. 2008/186
Stock No:
1MHLEA2008002
ISBN:
9781451825947
ISSN:
1934-7685

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