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

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  • International Monetary Fund

Abstract

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.

Suggested Citation

  • International Monetary Fund, 2023. "Kiribati: 2023 Article IV Consultation-Press Release; and Staff Report," IMF Staff Country Reports 2023/329, International Monetary Fund.
    • Handle: RePEc:imf:imfscr:2023/329
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