Union of Comoros: 2016 Article IV Consultation-Press Release; Staff Report; and Statement by the Executive Director for Union of Comoros

International Monetary Fund

No 2016/393, IMF Staff Country Reports from International Monetary Fund

Abstract: This 2016 Article IV Consultation highlights difficulties the economy of Comoros encountered in 2015 and the first half of 2016. An ongoing crisis in the electricity sector and slower-than-expected implementation of the public investment program were the main factors behind the slower growth. Inflation remained well anchored at an annual rate of about 2 percent. Fiscal policy was challenging for most of 2015 as the impact of slower economic growth was compounded by lower revenues. Growth is projected to pick up somewhat to 2 percent in 2016, and revenues are projected to increase to 12 percent of GDP.

Keywords: ISCR; CR; authority; financing; government; IMF staff estimate; wage bill; electricity company; financing gap; Comorian authority; further revenue administration; Comoros post; Wages; Arrears; Sub-Saharan Africa; Europe; Caribbean; Africa (search for similar items in EconPapers)
Pages: 88
Date: 2016-12-22
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