Comoros: Recent Economic Developments

International Monetary Fund

No 1996/106, IMF Staff Country Reports from International Monetary Fund

Abstract: This paper describes economic developments in Comoros during the 1990s. The economic performance of Comoros during 1991–94 was characterized by real growth of about 1.6 percent a year on average, large financial imbalances, an eroding export base, and the accumulation of large domestic and external payments arrears. Public finances came under pressure as revenue performance deteriorated as a result of a narrow tax base, tax exemptions and evasion, and poor tax administration, exacerbated by rising current expenditures, which stemmed in particular from a growing wage bill.

Keywords: ISCR; CR; gross domestic product; deficit; real GDP; payments arrears; narrow money; U.S. dollar; credit growth; structural adjustment; vanilla export price; world price; import monopoly; import financing; Arrears; Imports; Exports; Capital spending (search for similar items in EconPapers)
Pages: 107
Date: 1996-10-15
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