Vanuatu Economic Report 2009: Accelerating Reform (Executive Summary)

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ISBN: 978-971-561-826-7
Pub. Date: 2009
In stock

Over the last several years, Vanuatu has become one of the fastest growing economies in the Pacific region driven primarily by tourism, construction, and aid inflows. The achievement of strong economic growth has also occurred on the back of improved economic policy, effective fiscal management, and improved environment for private sector development.

While recent gains have been impressive, more remains to be done to sustain growth and ensure the benefits are distributed throughout the nation. Employment and revenue reform, improved governance, and the need to give greater attention to the management of the natural environment remain among the key development priorities. In addition, improved health and education services are needed to meet the ever-rising expectations of the fast growing population. Infrastructure works are also a key development priority, both to support economic growth and to address the rising pressures on the all-important natural environment. Continued improvement in institutional performance lies at the heart of an effective response to these needs.

The Government is now on a sound financial footing and is well placed to address key development issues. The report discusses options for responding to these needs with a view to helping guide public policy formulation in Vanuatu.