OIA Supports Island “Green” Initiatives
Date: November 14, 2011
For more information please contact:
Rebecca Zepeda (202) 208-2534
Washington, DC – The Department of the Interior's Office of Insular Affairs (OIA) has released Fiscal Year 2010 Economic Reviews for the Federated States of Micronesia (FSM) and the Republic of the Marshall Islands (RMI). Since 2006, OIA has provided funding to support the annual development of these reviews, which are prepared by the Graduate School USA's Pacific Islands Training Initiative, in conjunction with the governments of both countries.
"Garnering a better understanding of the economies of the Pacific, especially freely-associated states like the FSM and RMI, which receive annual Compact funding from the United States, is critically important," said Assistant Secretary Tony Babauta. "With only eleven years of financial assistance remaining under the current terms of the FSM and RMI Compacts of Free Association, it is remains imperative for the leaders of both countries to be able to make informed decisions and track progress towards economic advancement and budgetary self-reliance—the stated goals of the Compacts."
The FSM and RMI FY2010 Economic Reviews include updates to indicators such as GDP, GDP per capita, employment, inflation, external debt ratios, consolidated revenues and expenditures and outmigration estimates. In addition, the FY2010 Reviews also include a preliminary medium-term economic framework, which provides a three-year economic forecast for both countries.
Copies of the FY2010 Economic Reviews, Economic Summaries, and Statistical Appendices in both Adobe Acrobat and Microsoft Excel formats, are available online at http://econ.pitiviti.org.