Federated States of Micronesia and ADB

In the Spotlight

Overview

Despite robust growth of the fishery sector, the economy of the Federated States of Micronesia (FSM) has stagnated for many years, with private sector activities unable to offset a decline in public investment, which has resulted from the reduction in grants from the Compact of Free Association with the United States (the Compact). Critical importance has been placed on developing the FSM’s private sector, and achieving medium-term fiscal sustainability, to ensure sufficient resources are available to prepare for the planned expiration of Compact grants in the financial year 2023.

The government formulated its ongoing development framework in 2012. It highlights the importance of having ownership of the development process at the national and state levels, accompanied by well-coordinated, sector-based support from development partners. ADB continues to support this initiative in close coordination with other partners.


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Funding Information


Fast Facts

0.10(2014) Population in millions

0.1%(2009-2014) Average annual population growth rate

31.4%*

Percent of population living below the national poverty line (*Preliminary/interim figure; or refers to period before 2009.)

Download 2015 Basic Statistics