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Real output growth of the Republic of the Marshall Islands appears to have slowed sharply in FY2003 and again in FY2004. The 2005 Article IV Consultation highlights that the economic activity has been hampered by delays in implementing an upgraded public works program and the closure of a large privately owned tuna processing plant. The fiscal position deteriorated in FY2004. This deterioration reflects, on the revenue side, a decline in grants aimed at infrastructure projects owing in part to delays in initiating projects, lower income tax collection, and volatility in nontax revenue.

Fiscal policy --- Finance --- Funding --- Funds --- Economics --- Currency question --- Tax policy --- Taxation --- Economic policy --- Finance, Public --- Government policy --- Marshall Islands --- Republic of the Marshall Islands --- R.M.I. --- RMI --- Aolepān Aorōkin M̧ajeļ --- Pulo-pulo Marshall --- Marshalleilande --- Republiek van die Marshalleilande --- Marshallinsle --- Republik Marshallinsle --- Islas Marshall --- Republica d'as Islas Marshall --- March·al --- Rèpublica des Iles March·al --- Islles Márxal --- República de les Islles Márxal --- Marşall adaları --- Marşall Adaları Respublikası --- Marshall Kûn-tó --- Marshall Kûn-tó Kiōng-hô-kok --- Маршалавы Астравы --- Marshalavy Astravy --- Рэспубліка Маршалавы Астравы --- Rėspublika Marshalavy Astravy --- Maršalska Ostrva --- Republika Maršalska Ostrva --- Inizi Marshall --- Republik Inizi Marshall --- Маршалови острови --- Marshalovi ostrovi --- Република Маршалови острови --- Republika Marshalovi ostrovi --- Illes Marshall --- República de les Illes Marshall --- Kapupud-ang Marshall --- Marshallovy ostrovy --- Republika Marshallovy ostrovy --- Ynysoedd Marshall --- Gweriniaeth Ynysoedd Marshall --- Marshalløerne --- Marshallinseln --- Republik Marshallinseln --- Marshalli Saared --- Marshalli Saarte Vabariik --- Νήσοι Μάρσαλ --- Nēsoi Marsal --- Δημοκρατία των Νήσων Μάρσαλ --- Dēmokratia tōn Nēsōn Marsal --- República de las Islas Marshall --- Marŝala Insularo --- Repúbrica de las Islas Marshall --- Marshall Uharteak --- Marshall Uharteetako Errepublika --- Marshalloyggjar --- Lýðveldið Marshalloyggjar --- Îles Marshall --- République des Îles Marshall --- Marshalleilannen --- Oileáin Marshall --- Ellanyn Varshyl --- Pobblaght ny h-Ellanyn Varshyl --- Eileanan Mharshall --- Illas Marshall --- República das Illas Marshall --- Маршал Арлин Орн --- Marshal Arlin Orn --- Maršalovi Otoci --- Republika Maršalovi Otoci --- Marshall Insuli --- Kepulauan Marshall --- Republik Kepulauan Marshall --- Маршаллы сакъадæхтæ --- Marshally sakʺadækhtæ --- Маршаллы Сакъадæхты Республикæ --- Marshally Sakʺadækhty Respublikæ --- Marshalleyjar --- Isole Marshall --- איי מרשל --- Iye Marshal --- マーシャル諸島 --- Māsharu Shotō --- Marshall Islands District (Pacific Islands) --- Economic conditions. --- Banks and Banking --- Budgeting --- Exports and Imports --- Macroeconomics --- Public Finance --- Labor --- National Budget --- Budget Systems --- National Government Expenditures and Related Policies: General --- Debt --- Debt Management --- Sovereign Debt --- International Lending and Debt Problems --- Taxation, Subsidies, and Revenue: General --- Public finance & taxation --- Budgeting & financial management --- International economics --- Civil service & public sector --- Extra-budgetary funds --- Expenditure --- Public debt --- External debt --- Revenue administration --- Public financial management (PFM) --- Budget --- Expenditures, Public --- Debts, Public --- Debts, External --- Revenue --- Marshall Islands, Republic of the

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This 2016 Article IV Consultation highlights that the economy of the Marshall Islands is estimated to have expanded by about 0.5 percent in FY2015 (ending September 30), as the fishery sector recovered. Following a moderate inflation of 1.1 percent in FY2014, headline inflation dropped to –2.2 percent in FY2015 amid falling oil and utility prices. The fiscal balance is estimated to have recorded a surplus of about 3 percent of GDP in FY2014–15, owing to record-high fishing license fees. Growth is expected to rise to about 1.5 percent and inflation to about 0.5 percent in FY2016, as the effects of the drought in earlier 2016 are offset by the resumption of infrastructure projects.

Marshall Islands --- Economic policy. --- Republic of the Marshall Islands --- R.M.I. --- RMI --- Aolepān Aorōkin M̧ajeļ --- Pulo-pulo Marshall --- Marshalleilande --- Republiek van die Marshalleilande --- Marshallinsle --- Republik Marshallinsle --- Islas Marshall --- Republica d'as Islas Marshall --- March·al --- Rèpublica des Iles March·al --- Islles Márxal --- República de les Islles Márxal --- Marşall adaları --- Marşall Adaları Respublikası --- Marshall Kûn-tó --- Marshall Kûn-tó Kiōng-hô-kok --- Маршалавы Астравы --- Marshalavy Astravy --- Рэспубліка Маршалавы Астравы --- Rėspublika Marshalavy Astravy --- Maršalska Ostrva --- Republika Maršalska Ostrva --- Inizi Marshall --- Republik Inizi Marshall --- Маршалови острови --- Marshalovi ostrovi --- Република Маршалови острови --- Republika Marshalovi ostrovi --- Illes Marshall --- República de les Illes Marshall --- Kapupud-ang Marshall --- Marshallovy ostrovy --- Republika Marshallovy ostrovy --- Ynysoedd Marshall --- Gweriniaeth Ynysoedd Marshall --- Marshalløerne --- Marshallinseln --- Republik Marshallinseln --- Marshalli Saared --- Marshalli Saarte Vabariik --- Νήσοι Μάρσαλ --- Nēsoi Marsal --- Δημοκρατία των Νήσων Μάρσαλ --- Dēmokratia tōn Nēsōn Marsal --- República de las Islas Marshall --- Marŝala Insularo --- Repúbrica de las Islas Marshall --- Marshall Uharteak --- Marshall Uharteetako Errepublika --- Marshalloyggjar --- Lýðveldið Marshalloyggjar --- Îles Marshall --- République des Îles Marshall --- Marshalleilannen --- Oileáin Marshall --- Ellanyn Varshyl --- Pobblaght ny h-Ellanyn Varshyl --- Eileanan Mharshall --- Illas Marshall --- República das Illas Marshall --- Маршал Арлин Орн --- Marshal Arlin Orn --- Maršalovi Otoci --- Republika Maršalovi Otoci --- Marshall Insuli --- Kepulauan Marshall --- Republik Kepulauan Marshall --- Маршаллы сакъадæхтæ --- Marshally sakʺadækhtæ --- Маршаллы Сакъадæхты Республикæ --- Marshally Sakʺadækhty Respublikæ --- Marshalleyjar --- Isole Marshall --- איי מרשל --- Iye Marshal --- マーシャル諸島 --- Māsharu Shotō --- Marshall Islands District (Pacific Islands) --- Banks and Banking --- Exports and Imports --- Macroeconomics --- Public Finance --- Environmental Economics --- Natural Disasters --- International Lending and Debt Problems --- Debt --- Debt Management --- Sovereign Debt --- Climate --- Natural Disasters and Their Management --- Global Warming --- Fiscal Policy --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- National Government Expenditures and Related Policies: General --- International economics --- Public finance & taxation --- Climate change --- Banking --- Public ownership --- nationalization --- External debt --- Public debt --- Fiscal stance --- Environment --- Fiscal policy --- Public and publicly-guaranteed external debt --- Debts, External --- Debts, Public --- Climatic changes --- Banks and banking --- Finance, Public --- Marshall Islands, Republic of the --- Nationalization

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This Informational Annex highlights the Marshall Islands’ existing tax system’s inability to raise additional revenue, discouragement of private investment, and inequitability. Careful consideration needs to be given to the potential of a comprehensive tax reform program, including strengthening tax administration, for raising additional revenue while supporting the private sector. Many state-owned enterprises (SOEs) are a drain on public finances, and their unreliable or costly services undermine private sector development. To improve their performance, reforms are needed to strengthen efficiency, better delineate commercial and noncommercial services, and introduce tariff systems that better reflect cost of services. In areas where SOEs provide purely commercial services, divestment should be considered.

Liability for nuclear damages --- Nuclear weapons --- Nuclear weapons testing victims --- Atomic weapons testing victims --- Victims of nuclear weapons testing --- Radiation victims --- Atomic weapons --- Fusion weapons --- Thermonuclear weapons --- Weapons of mass destruction --- No first use (Nuclear strategy) --- Nuclear arms control --- Nuclear disarmament --- Nuclear warfare --- Atomic damages, Liability for --- Liability for atomic damages --- Nuclear damages, Liability for --- Accident law --- Nuclear energy --- Torts --- Testing --- Law and legislation --- Services for --- Finance. --- Marshall Islands --- United States --- ABŞ --- ABSh --- Ameerika Ühendriigid --- America (Republic) --- Amerika Birlăshmish Shtatlary --- Amerika Birlăşmi Ştatları --- Amerika Birlăşmiş Ştatları --- Amerika ka Kelenyalen Jamanaw --- Amerika Qūrama Shtattary --- Amerika Qŭshma Shtatlari --- Amerika Qushma Shtattary --- Amerika (Republic) --- Amerikai Egyesült Államok --- Amerikanʹ Veĭtʹsėndi︠a︡vks Shtattnė --- Amerikări Pĕrleshu̇llĕ Shtatsem --- Amerikas Forenede Stater --- Amerikayi Miatsʻyal Nahangner --- Ameriketako Estatu Batuak --- Amirika Carékat --- AQSh --- Ar. ha-B. --- Arhab --- Artsot ha-Berit --- Artzois Ha'bris --- Bí-kok --- Ē.P.A. --- EE.UU. --- Egyesült Államok --- ĒPA --- Estados Unidos --- Estados Unidos da América do Norte --- Estados Unidos de América --- Estaos Xuníos --- Estaos Xuníos d'América --- Estatos Unitos --- Estatos Unitos d'America --- Estats Units d'Amèrica --- Ètats-Unis d'Amèrica --- États-Unis d'Amérique --- Fareyniḳṭe Shṭaṭn --- Feriene Steaten --- Feriene Steaten fan Amearika --- Forente stater --- FS --- Hēnomenai Politeiai Amerikēs --- Hēnōmenes Politeies tēs Amerikēs --- Hiwsisayin Amerikayi Miatsʻeal Tērutʻiwnkʻ --- Istadus Unidus --- Jungtinės Amerikos valstybės --- Mei guo --- Mei-kuo --- Meiguo --- Mî-koet --- Miatsʻyal Nahangner --- Miguk --- Na Stàitean Aonaichte --- NSA --- S.U.A. --- SAD --- Saharat ʻAmērikā --- SASht --- Severo-Amerikanskie Shtaty --- Severo-Amerikanskie Soedinennye Shtaty --- Si︠e︡vero-Amerikanskīe Soedinennye Shtaty --- Sjedinjene Američke Države --- Soedinennye Shtaty Ameriki --- Soedinennye Shtaty Severnoĭ Ameriki --- Soedinennye Shtaty Si︠e︡vernoĭ Ameriki --- Spojené obce severoamerické --- Spojené staty americké --- SShA --- Stadoù-Unanet Amerika --- Stáit Aontaithe Mheiriceá --- Stany Zjednoczone --- Stati Uniti --- Stati Uniti d'America --- Stâts Unîts --- Stâts Unîts di Americhe --- Steatyn Unnaneysit --- Steatyn Unnaneysit America --- SUA (Stati Uniti d'America) --- Sŭedineni amerikanski shtati --- Sŭedinenite shtati --- Tetã peteĩ reko Amérikagua --- U.S. --- U.S.A. --- United States of America --- Unol Daleithiau --- Unol Daleithiau America --- Unuiĝintaj Ŝtatoj de Ameriko --- US --- USA --- Usono --- Vaeinigte Staatn --- Vaeinigte Staatn vo Amerika --- Vereinigte Staaten --- Vereinigte Staaten von Amerika --- Verenigde State van Amerika --- Verenigde Staten --- VS --- VSA --- Wááshindoon Bikéyah Ałhidadiidzooígíí --- Wilāyāt al-Muttaḥidah --- Wilāyāt al-Muttaḥidah al-Amirīkīyah --- Wilāyāt al-Muttaḥidah al-Amrīkīyah --- Yhdysvallat --- Yunaeted Stet --- Yunaeted Stet blong Amerika --- ZDA --- Združene države Amerike --- Zʹi︠e︡dnani Derz︠h︡avy Ameryky --- Zjadnośone staty Ameriki --- Zluchanyi︠a︡ Shtaty Ameryki --- Zlucheni Derz︠h︡avy --- ZSA --- Η.Π.Α. --- Ηνωμένες Πολιτείες της Αμερικής --- Америка (Republic) --- Американь Вейтьсэндявкс Штаттнэ --- Америкӑри Пӗрлешӳллӗ Штатсем --- САЩ --- Съединените щати --- Злучаныя Штаты Амерыкі --- ولايات المتحدة --- ولايات المتّحدة الأمريكيّة --- ولايات المتحدة الامريكية --- 미국 --- Republic of the Marshall Islands --- R.M.I. --- RMI --- Aolepān Aorōkin M̧ajeļ --- Pulo-pulo Marshall --- Marshalleilande --- Republiek van die Marshalleilande --- Marshallinsle --- Republik Marshallinsle --- Islas Marshall --- Republica d'as Islas Marshall --- March·al --- Rèpublica des Iles March·al --- Islles Márxal --- República de les Islles Márxal --- Marşall adaları --- Marşall Adaları Respublikası --- Marshall Kûn-tó --- Marshall Kûn-tó Kiōng-hô-kok --- Маршалавы Астравы --- Marshalavy Astravy --- Рэспубліка Маршалавы Астравы --- Rėspublika Marshalavy Astravy --- Maršalska Ostrva --- Republika Maršalska Ostrva --- Inizi Marshall --- Republik Inizi Marshall --- Маршалови острови --- Marshalovi ostrovi --- Република Маршалови острови --- Republika Marshalovi ostrovi --- Illes Marshall --- República de les Illes Marshall --- Kapupud-ang Marshall --- Marshallovy ostrovy --- Republika Marshallovy ostrovy --- Ynysoedd Marshall --- Gweriniaeth Ynysoedd Marshall --- Marshalløerne --- Marshallinseln --- Republik Marshallinseln --- Marshalli Saared --- Marshalli Saarte Vabariik --- Νήσοι Μάρσαλ --- Nēsoi Marsal --- Δημοκρατία των Νήσων Μάρσαλ --- Dēmokratia tōn Nēsōn Marsal --- República de las Islas Marshall --- Marŝala Insularo --- Repúbrica de las Islas Marshall --- Marshall Uharteak --- Marshall Uharteetako Errepublika --- Marshalloyggjar --- Lýðveldið Marshalloyggjar --- Îles Marshall --- République des Îles Marshall --- Marshalleilannen --- Oileáin Marshall --- Ellanyn Varshyl --- Pobblaght ny h-Ellanyn Varshyl --- Eileanan Mharshall --- Illas Marshall --- República das Illas Marshall --- Маршал Арлин Орн --- Marshal Arlin Orn --- Maršalovi Otoci --- Republika Maršalovi Otoci --- Marshall Insuli --- Kepulauan Marshall --- Republik Kepulauan Marshall --- Маршаллы сакъадæхтæ --- Marshally sakʺadækhtæ --- Маршаллы Сакъадæхты Республикæ --- Marshally Sakʺadækhty Respublikæ --- Marshalleyjar --- Isole Marshall --- איי מרשל --- Iye Marshal --- マーシャル諸島 --- Māsharu Shotō --- Marshall Islands District (Pacific Islands) --- Claims. --- Foreign relations --- États-Unis --- É.-U. --- ÉU --- Banks and Banking --- Exports and Imports --- Macroeconomics --- Public Finance --- Agribusiness --- Industries: Financial Services --- International Lending and Debt Problems --- Debt --- Debt Management --- Sovereign Debt --- Fiscal Policy --- National Government Expenditures and Related Policies: General --- Banks --- Depository Institutions --- Micro Finance Institutions --- Mortgages --- Taxation, Subsidies, and Revenue: General --- International economics --- Public finance & taxation --- Banking --- Agriculture, agribusiness & food production industries --- Civil service & public sector --- Public debt --- External debt --- Public financial management (PFM) --- Public and publicly-guaranteed external debt --- Fiscal stance --- Fiscal policy --- Debts, External --- Debts, Public --- Finance, Public --- Banks and banking --- Revenue --- Marshall Islands, Republic of the