Vanuatu: Pacific Economic Monitor: July 2015 - Midyear Review

This issue of the Pacific Economic Monitor updates the 2015 and 2016 GDP growth and inflation projections for ADB's Pacific developing member countries. The policy briefs included in this issue focus on disasters in the Pacific.

Highlights

Highlights from this issue of the Pacific Economic Monitor include the following:

•Disasters dampen 2015 outlook for smaller islands. The impacts of severe weather events last March are seen to impede growth in the economies of the Federated States of Micronesia and Vanuatu this year. However, average growth in the Pacific region is still projected to accelerate to 9.9%, driven mainly by the first full year of liquefied natural gas exports from Papua New Guinea (PNG).

•Improved Pacific island prospects in 2016. The commencement of development partner projects in Fiji, and the continuing strong performance of tourism in Palau, are projected to help boost average growth in the Pacific islands—the Pacific region excluding PNG and Timor-Leste—from 3.1% in 2015 to 3.9% next year. However, average growth in the Pacific region is seen to moderate to 5.0% in 2016.

•Building resilience to disasters. This issue’s policy briefs examine the development impacts of intense disasters in the Pacific and consider options for enhancing resilience and adaptation over the long term.

About the Pacific Economic Monitor

The Pacific Economic Monitor provides an update of developments in Pacific economies and explores topical policy issues. This tri-annual publication is produced by ADB with contributions from development partners and knowledge organizations engaged in economic analysis of the Pacific.

Contents

• Highlights

• The Economic Setting

• Country Economic Updates

• Policy Briefs Disasters in the Pacific: An overview of economic and fiscal issues
  Vanuatu and Cyclone Pam: An update on fiscal, economic, and development impacts
  ADB’s Pacific operations and disaster risk reduction
  Reconstructing accountability after disaster
  Enhancing macroeconomic resilience to disasters in the Pacific: A workshop report

• Economic Indicators