The economy survey [2005]

Abstract

Recent indicators of economic growth show the Samoan economy continuing to rebound strongly from the moderate growth rates recorded over the period from 2002 to 2004. For the twelve months to June 2005, real GDP improved 6.5 per cent, construction sector and a turnaround in the agriculture and fisheries sector. The completion of public investment in sporting facilities for the 2007 South Pacific Games over the next 12 months is expected to sustain the construction sector?s contribution to near-term economic growth. However, sustaining economic growth over the medium term will depend on other key sectors including agriculture and fisheries, small-scale manufacturing, other public infrastructure investment in the pipeline, and a steady flow of remittances. An expansionary pre-election budget featuring major public sector salary and wages increases introduced in July 2005 is expected to sustain demand over the short term. Show more