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This paper reviews economic developments in Western Samoa during 1990a€“94. Economic growth resumed in 1993, led by a strong recovery in agriculture during the first half of the year and a rebound in tourism. With the recovery in domestic food production, the rate of inflation declined in 1993. However, although infrastructure repairs were largely completed, financial policies remained relaxed: the budget deficit widened further to 22 percent of GDP in the 1992/93 fiscal year, and credit to the private sector continued to expand rapidly.Since the beginning of its operations in late 1991, the Yazaki wiring harness factory has made an important contribution to the overall level of service receipts. By 1993, its net value added amounted to US$4 million, a 58 percent increase fromanbsp;...

Author: International Monetary Fund
Publisher:International Monetary Fund - 1994-05-15

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