Federated States of Micronesia Selected Issues and Statistical Appendix

This Selected Issues paper on the Federated States of Micronesia (FSM) underlies economic development. Since independence, the FSM has been heavily dependent on assistance from the United States. With government expenditure of more than 60 percent of GDP, the private sector remains underdeveloped, f...

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Bibliographic Details
Corporate Author: International Monetary Fund
Format: eBook
Language:English
Published: Washington, D.C. International Monetary Fund 2005
Series:IMF Staff Country Reports
Subjects:
Online Access:
Collection: International Monetary Fund - Collection details see MPG.ReNa
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653 |a Revenue administration 
653 |a Public finance & taxation 
653 |a Taxes 
653 |a Fiscal Policy 
653 |a Fiscal policy 
653 |a National Government Expenditures and Related Policies: General 
653 |a Expenditure 
653 |a Business Taxes and Subsidies 
653 |a Taxation, Subsidies, and Revenue: General 
653 |a Expenditures, Public 
653 |a Macroeconomics 
653 |a Tax administration and procedure 
653 |a Taxation 
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520 |a This Selected Issues paper on the Federated States of Micronesia (FSM) underlies economic development. Since independence, the FSM has been heavily dependent on assistance from the United States. With government expenditure of more than 60 percent of GDP, the private sector remains underdeveloped, functioning largely as a provider of services to the public sector. Under a comprehensive reform scenario, further budgetary efforts are to be taken, as well as structural reforms. Given the need for fiscal consolidation, tax reform has been the subject of discussion for a number of years, although with little progress to show