IMF Staff Country Reports

Kiribati: 2023 Article IV Consultation-Press Release; and Staff Report

Publication Date:

September 15, 2023

Electronic Access:

Free Download. Use the free Adobe Acrobat Reader to view this PDF file

Summary:

Due to supportive fiscal policies, the economy recovered strongly in 2021, with real GDP growing 7.9 percent. However, a domestic outbreak of COVID-19 and the subsequent lockdown restrictions imposed in the first half of 2022 along with a severe drought dampened economic activities. With the reopening of borders in August 2022, GDP growth is expected to increase from an estimated 1.2 percent in 2022 to 2.5 percent in 2023. Inflation has picked up recently due to the recovery in domestic demand, supply shortages, and elevated commodity prices and freight costs. Risks to the outlook are mainly on the downside.

Series:

Country Report No. 2023/329

Subject:

Agroindustries Economic and financial statistics Economic sectors External debt Government finance statistics International organization Monetary policy Public debt Public financial management (PFM)

Frequency:

regular