Comoros: Statistical Annex

International Monetary Fund

doi:10.5089/9781451809015.002.A001

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Comoros

Statistical Annex

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International Monetary Fund

International Monetary Fund
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Publication Date:: 15 Dec 1997

eISBN:: 9781451809015

Language:: English

Keywords:: ISCR; CR; tax; central bank; value; unit value; advance tax payment; retail price; tax proceeds; net statement; Comorian ports establishment; Imports; Exports; Agricultural commodities; Tariffs; Africa

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In recent years, the IMF has released a growing number of reports and other documents covering economic and financial developments and trends in member countries. Each report, prepared by a staff team after discussions with government officials, is published at the option of the member country.

Abstract

Table 1.

Comoros: Gross Domestic Product by Sector at Current Market Prices, 1990-96

(In millions of Comorian francs)

Sources: Directorate of Statistics; and Fund staff estimates.

^{^1/}Including import duties and taxes.

^{^2/}REB = real estate business and STE = services to enterprises.

Table 1.

Comoros: Gross Domestic Product by Sector at Current Market Prices, 1990-96

(In millions of Comorian francs)

Economic Activity	1990	1991	1992	1993	1994	1995	1996
Agriculture, livestock, fishing, and forestry	28,197	27,614	27,838	29,189	29,097	31,055	31,636
Manufacturing	2,865	2,909	3,134	3,357	4,614	4,281	4,361
Electricity, gas, and water	602	710	782	893	1,076	1,048	1,068
Construction and public works	2,159	2,903	4,145	4,675	4,843	4,961	5,054
Trade, hotels, bars, and restaurants ¹/	17,519	18,631	19,425	21,655	21,439	22,412	22,832
Banks, insurance, REB, and STE ²/	3,102	3,166	3,329	3,469	3,296	3,058	3,115
Transportation and communications	2,853	2,881	3,082	3,206	3,195	3,135	3,193
Government departments	12,052	12,209	10,212	9,717	11,271	11,891	12,114
Other services	390	426	450	402	370	394	401
Imputed banking production	−1,664	−1,820	−1,938	−1,932	−1,850	−1,891	−1,927
GDP at market prices	68,074	69,630	70,458	74,632	77,351	80,343	81,847
Net indirect taxes	−5,825	−4,942	…	…	…	…	…
GDP at factor cost	62,249	64,688	…	…	…	…	…

Sources: Directorate of Statistics; and Fund staff estimates.

^{^1/}Including import duties and taxes.

^{^2/}REB = real estate business and STE = services to enterprises.

Table 1.

Comoros: Gross Domestic Product by Sector at Current Market Prices, 1990-96

(In millions of Comorian francs)

Economic Activity	1990	1991	1992	1993	1994	1995	1996
Agriculture, livestock, fishing, and forestry	28,197	27,614	27,838	29,189	29,097	31,055	31,636
Manufacturing	2,865	2,909	3,134	3,357	4,614	4,281	4,361
Electricity, gas, and water	602	710	782	893	1,076	1,048	1,068
Construction and public works	2,159	2,903	4,145	4,675	4,843	4,961	5,054
Trade, hotels, bars, and restaurants ¹/	17,519	18,631	19,425	21,655	21,439	22,412	22,832
Banks, insurance, REB, and STE ²/	3,102	3,166	3,329	3,469	3,296	3,058	3,115
Transportation and communications	2,853	2,881	3,082	3,206	3,195	3,135	3,193
Government departments	12,052	12,209	10,212	9,717	11,271	11,891	12,114
Other services	390	426	450	402	370	394	401
Imputed banking production	−1,664	−1,820	−1,938	−1,932	−1,850	−1,891	−1,927
GDP at market prices	68,074	69,630	70,458	74,632	77,351	80,343	81,847
Net indirect taxes	−5,825	−4,942	…	…	…	…	…
GDP at factor cost	62,249	64,688	…	…	…	…	…

Sources: Directorate of Statistics; and Fund staff estimates.

^{^1/}Including import duties and taxes.

^{^2/}REB = real estate business and STE = services to enterprises.

Table 2.

Comoros: Gross Domestic Product by Sector at 1990 Constant Prices, 1990-96

(In millions of Comorian francs)

Sources: Directorate of Statistics; and Fund staff estimates.

^{^1/}Including import duties and taxes.

^{^2/}REB = real estate business and STE = services to enterprises.

Table 2.

Comoros: Gross Domestic Product by Sector at 1990 Constant Prices, 1990-96

(In millions of Comorian francs)

Economic Activity	1990	1991	1992	1993	1994	1995	1996
Agriculture, livestock, fishing, and forestry	28,197	28,311	28,312	28,918	27,552	27,215	27,095
Manufacturing	2,865	2,427	3,097	3,241	3,250	2,790	2,778
Electricity, gas, and water	602	593	772	895	960	866	862
Construction and public works	2,159	2,423	4,096	4,765	4,461	4,229	4,210
Trade, hotels, bars, and restaurants ¹/	17,519	14,866	18,469	19,722	18,041	17,455	17,378
Banks, insurance, REB, and STE ²/	3,102	2,642	3,290	3,356	3,364	2,889	2,876
Transportation and communications	2,853	2,404	3,045	3,298	2,863	2,600	2,588
Government departments	12,052	12,005	10,175	9,218	9,102	8,887	8,848
Other services	390	388	412	361	349	343	342
Imputed banking production	−1,664	−1,660	−1,774	−1,778	−1,745	−1,716	−1,708
GDP at market prices	68,074	64,401	69,895	71,996	68,197	65,558	65,269
Net indirect taxes	−5,825	−4,819	…	…	…	…	…
GDP at factor cost	62,249	59,582	…	…	…	…	…

Sources: Directorate of Statistics; and Fund staff estimates.

^{^1/}Including import duties and taxes.

^{^2/}REB = real estate business and STE = services to enterprises.

Table 2.

Comoros: Gross Domestic Product by Sector at 1990 Constant Prices, 1990-96

(In millions of Comorian francs)

Economic Activity	1990	1991	1992	1993	1994	1995	1996
Agriculture, livestock, fishing, and forestry	28,197	28,311	28,312	28,918	27,552	27,215	27,095
Manufacturing	2,865	2,427	3,097	3,241	3,250	2,790	2,778
Electricity, gas, and water	602	593	772	895	960	866	862
Construction and public works	2,159	2,423	4,096	4,765	4,461	4,229	4,210
Trade, hotels, bars, and restaurants ¹/	17,519	14,866	18,469	19,722	18,041	17,455	17,378
Banks, insurance, REB, and STE ²/	3,102	2,642	3,290	3,356	3,364	2,889	2,876
Transportation and communications	2,853	2,404	3,045	3,298	2,863	2,600	2,588
Government departments	12,052	12,005	10,175	9,218	9,102	8,887	8,848
Other services	390	388	412	361	349	343	342
Imputed banking production	−1,664	−1,660	−1,774	−1,778	−1,745	−1,716	−1,708
GDP at market prices	68,074	64,401	69,895	71,996	68,197	65,558	65,269
Net indirect taxes	−5,825	−4,819	…	…	…	…	…
GDP at factor cost	62,249	59,582	…	…	…	…	…

Sources: Directorate of Statistics; and Fund staff estimates.

^{^1/}Including import duties and taxes.

^{^2/}REB = real estate business and STE = services to enterprises.

Table 3.

Comoros: Source and Use of Resources at Current Market Prices, 1990-96

(In millions of Comorian francs)

Sources: Directorate of Statistics; and Fund staff estimates.

Table 3.

Comoros: Source and Use of Resources at Current Market Prices, 1990-96

(In millions of Comorian francs)

	1990	1991	1992	1993	1994	1995	1996
Public consumption	11,241	12,207	11,148	11,281	12,879	13,838	12,434
Private consumption	59,030	55,963	60,419	61,212	69,050	72,078	74,366
Gross fixed capital formation	8,108	13,130	14,166	12,659	15,357	14,759	15,333
Change in stocks	5,280	1,000	1,500	2,721	900	1,200	104
Exports of goods and services	9,702	13,934	12,711	14,904	15,713	17,157	16,204
Imports of goods and services	−25,287	−26,604	−29,487	−28,145	−36,547	−38,689	−36,594
GDP at market prices	68,074	69,630	70,458	74,632	77,351	80,343	81,847
Factor income	−192	−145	942	485	188	381	125
Gross national product	67,882	69,485	71,400	75,117	77,539	80,724	81,972

Sources: Directorate of Statistics; and Fund staff estimates.

Table 3.

Comoros: Source and Use of Resources at Current Market Prices, 1990-96

(In millions of Comorian francs)

	1990	1991	1992	1993	1994	1995	1996
Public consumption	11,241	12,207	11,148	11,281	12,879	13,838	12,434
Private consumption	59,030	55,963	60,419	61,212	69,050	72,078	74,366
Gross fixed capital formation	8,108	13,130	14,166	12,659	15,357	14,759	15,333
Change in stocks	5,280	1,000	1,500	2,721	900	1,200	104
Exports of goods and services	9,702	13,934	12,711	14,904	15,713	17,157	16,204
Imports of goods and services	−25,287	−26,604	−29,487	−28,145	−36,547	−38,689	−36,594
GDP at market prices	68,074	69,630	70,458	74,632	77,351	80,343	81,847
Factor income	−192	−145	942	485	188	381	125
Gross national product	67,882	69,485	71,400	75,117	77,539	80,724	81,972

Sources: Directorate of Statistics; and Fund staff estimates.

Table 4.

Comoros: Source and Use of Resources at 1990 Constant Prices, 1990-96

(In millions of Comorian francs)

Sources: Directorate of Statistics; and Fund staff estimates.

Table 4.

Comoros: Source and Use of Resources at 1990 Constant Prices, 1990-96

(In millions of Comorian francs)

	1990	1991	1992	1993	1994	1995	1996
Public consumption	11,241	12,003	11,118	11,030	10,049	10,081	8,933
Private consumption	59,030	47,111	56,679	56,609	52,438	48,223	47,202
Gross fixed capital formation	8,108	15,210	16,618	12,095	12,824	12,551	13,420
Change in stocks	5,280	1,004	1,485	2,587	698	911	49
Exports of goods and services	9,702	14,903	13,565	17,770	16,152	19,002	19,871
Imports of goods and services	−25,287	−26,604	−29,487	−28,145	−36,547	−38,689	−36,594
GDP at market prices	68,074	64,401	69,895	71,996	68,197	65,558	65,269
Factor income	−192	−143	1,020	507	156	296	96
Gross national product	67,882	64,258	70,915	72,503	68,353	65,854	65,365

Sources: Directorate of Statistics; and Fund staff estimates.

Table 4.

Comoros: Source and Use of Resources at 1990 Constant Prices, 1990-96

(In millions of Comorian francs)

	1990	1991	1992	1993	1994	1995	1996
Public consumption	11,241	12,003	11,118	11,030	10,049	10,081	8,933
Private consumption	59,030	47,111	56,679	56,609	52,438	48,223	47,202
Gross fixed capital formation	8,108	15,210	16,618	12,095	12,824	12,551	13,420
Change in stocks	5,280	1,004	1,485	2,587	698	911	49
Exports of goods and services	9,702	14,903	13,565	17,770	16,152	19,002	19,871
Imports of goods and services	−25,287	−26,604	−29,487	−28,145	−36,547	−38,689	−36,594
GDP at market prices	68,074	64,401	69,895	71,996	68,197	65,558	65,269
Factor income	−192	−143	1,020	507	156	296	96
Gross national product	67,882	64,258	70,915	72,503	68,353	65,854	65,365

Sources: Directorate of Statistics; and Fund staff estimates.

Table 5.

Comoros: Food Crop Production, 1990-96

(In metric tons)

Source: Directorate of Agriculture, Ministry of Agricultural Production, Marine Resources and Environment.

Table 5.

Comoros: Food Crop Production, 1990-96

(In metric tons)

		1990	1991	1992	1993	1994	1995	1996
Cereals
	Paddy	3,055	3,050	3,000	3,000	3,000	3,000	3,000
	Maize	3,570	3,570	3,600	3,636	3,672	3,709	3,700
Tubers
	Cassava	45,470	46,150	46,840	47,543	48,250	49,000	49,700
	Taro	7,360	7,420	7,480	7,682	7,889	8,102	8,300
	Yams	3,070	3,130	3,170	3,256	3,344	3,434	3,500
	Sweet potatoes	1,200	1,230	1,250	1,284	1,319	1,355	1,390
Legumes		6,750	6,780	6,820	7,004	7,193	7,387	7,600
Ambrevade beans		250	250	255	262	269	276	280
Ambérique beans		370	380	390	401	412	423	430
Tomatoes		250	255	270	277	284	292	300
Potatoes		750	730	710	729	749	769	790
Peanuts		125	130	130	134	138	142	150
Miscellaneous		990	1,010	1,030	1,058	1,087	1,116	1,190
Fruits
	Bananas	50,250	50,960	51,670	53,065	54,498	55,969	57,000
	Coconuts (thousands)	63,740	64,630	65,210	66,971	68,779	70,636	72,500
	Miscellaneous	2,740	2,800	2,850	2,907	2,950	3,050	3,100

Source: Directorate of Agriculture, Ministry of Agricultural Production, Marine Resources and Environment.

Table 5.

Comoros: Food Crop Production, 1990-96

(In metric tons)

		1990	1991	1992	1993	1994	1995	1996
Cereals
	Paddy	3,055	3,050	3,000	3,000	3,000	3,000	3,000
	Maize	3,570	3,570	3,600	3,636	3,672	3,709	3,700
Tubers
	Cassava	45,470	46,150	46,840	47,543	48,250	49,000	49,700
	Taro	7,360	7,420	7,480	7,682	7,889	8,102	8,300
	Yams	3,070	3,130	3,170	3,256	3,344	3,434	3,500
	Sweet potatoes	1,200	1,230	1,250	1,284	1,319	1,355	1,390
Legumes		6,750	6,780	6,820	7,004	7,193	7,387	7,600
Ambrevade beans		250	250	255	262	269	276	280
Ambérique beans		370	380	390	401	412	423	430
Tomatoes		250	255	270	277	284	292	300
Potatoes		750	730	710	729	749	769	790
Peanuts		125	130	130	134	138	142	150
Miscellaneous		990	1,010	1,030	1,058	1,087	1,116	1,190
Fruits
	Bananas	50,250	50,960	51,670	53,065	54,498	55,969	57,000
	Coconuts (thousands)	63,740	64,630	65,210	66,971	68,779	70,636	72,500
	Miscellaneous	2,740	2,800	2,850	2,907	2,950	3,050	3,100

Source: Directorate of Agriculture, Ministry of Agricultural Production, Marine Resources and Environment.

Table 6.

Comoros: Livestock, 1990-96

(In number of head)

Source: Directorate of Breeding, Ministry of Agricultural Production, Marine Resources, and Environment.

^{^1/}The number of cattle declined owing to increased slaughtering for traditional ceremonies, and the sharp decrease in the use by farmers of the services of veterinarians and animal care technicians.

^{^2/}The number of goats had been underestimated; recent estimates were prepared by a CIRAD-EMVT mission (1995).

^{^3/}Considerable losses attributable to Newcastle’s disease.

Table 6.

Comoros: Livestock, 1990-96

(In number of head)

		1990	1991	1992	1993	1994	1995	1996
Cattle ¹/		47,850	48,300	49,260	49,999	43,100	43,200	43,300
Sheep		13,040	18,000	18,350	18,625	18,500	19,000	19,500
Goats ²/		120,190	121,300	123,700	125,555	169,000	172,000	174,500
Poultry ³/		153,700	160,850	164,050	165,690	160,000	162,000	164,000
Semi-industrial aviculture
	Meat	…	…	…	…	10,500	11,000	11,500
	Eggs	…	…	…	…	5,000	5,000	5,100

Source: Directorate of Breeding, Ministry of Agricultural Production, Marine Resources, and Environment.

^{^2/}The number of goats had been underestimated; recent estimates were prepared by a CIRAD-EMVT mission (1995).

^{^3/}Considerable losses attributable to Newcastle’s disease.

Table 6.

Comoros: Livestock, 1990-96

(In number of head)

		1990	1991	1992	1993	1994	1995	1996
Cattle ¹/		47,850	48,300	49,260	49,999	43,100	43,200	43,300
Sheep		13,040	18,000	18,350	18,625	18,500	19,000	19,500
Goats ²/		120,190	121,300	123,700	125,555	169,000	172,000	174,500
Poultry ³/		153,700	160,850	164,050	165,690	160,000	162,000	164,000
Semi-industrial aviculture
	Meat	…	…	…	…	10,500	11,000	11,500
	Eggs	…	…	…	…	5,000	5,000	5,100

Source: Directorate of Breeding, Ministry of Agricultural Production, Marine Resources, and Environment.

^{^2/}The number of goats had been underestimated; recent estimates were prepared by a CIRAD-EMVT mission (1995).

^{^3/}Considerable losses attributable to Newcastle’s disease.

Table 7.

Comoros: Production of Meat, Fish, and Dairy Products, 1990-96

Source: Directorate of Breeding, Ministry of Agricultural Production, Marine Resources, and Environment.

^{^1/}New series from 1994.

Table 7.

Comoros: Production of Meat, Fish, and Dairy Products, 1990-96

		1990	1991	1992	1993	1994	1995	1996
Meat and fish (in metric tons)
	Cattle	945	990	960	970	970	1,005	1,005
	Sheep and goats	133	136	126	145	145	150	155
	Poultry	183	202	186	188	190	190	192
	Fresh fish ¹/	8,030	8,370	8,040	8,442	13,320	12,766	13,000
Miscellaneous
	Milk (in thousands of liters)	950	1,000	960	960	960	970	980
	Eggs (in thousands)	4,250	4,420	4,260	4,260	4,260	4,260	4,380

Source: Directorate of Breeding, Ministry of Agricultural Production, Marine Resources, and Environment.

^{^1/}New series from 1994.

Table 7.

Comoros: Production of Meat, Fish, and Dairy Products, 1990-96

		1990	1991	1992	1993	1994	1995	1996
Meat and fish (in metric tons)
	Cattle	945	990	960	970	970	1,005	1,005
	Sheep and goats	133	136	126	145	145	150	155
	Poultry	183	202	186	188	190	190	192
	Fresh fish ¹/	8,030	8,370	8,040	8,442	13,320	12,766	13,000
Miscellaneous
	Milk (in thousands of liters)	950	1,000	960	960	960	970	980
	Eggs (in thousands)	4,250	4,420	4,260	4,260	4,260	4,260	4,380

Source: Directorate of Breeding, Ministry of Agricultural Production, Marine Resources, and Environment.

^{^1/}New series from 1994.

Table 8.

Comoros: Export Crop Production, 1990-96

(In metric tons)

Sources: Comorian Office of Vanilla; and Directorate of Projects, Ministry of Agricultural Production, Marine Resources, and Environment.

Table 8.

Comoros: Export Crop Production, 1990-96

(In metric tons)

		1990	1991	1992	1993	1994	1995	1996
Vanilla (green)		1,000	1,090	1,020	900	1,000	600	625
Cloves		1,350	1,090	900	1,586	2,755	500	…
Clove buds		1,256	1,014	837	949	1,380	250	1500
Ylang-ylang
	Flowers (units)	3,800	3,300	3,160	3,480	2,385	3,180	2,650
	Essence	71	62	59	65	45	60	50

Sources: Comorian Office of Vanilla; and Directorate of Projects, Ministry of Agricultural Production, Marine Resources, and Environment.

Table 8.

Comoros: Export Crop Production, 1990-96

(In metric tons)

		1990	1991	1992	1993	1994	1995	1996
Vanilla (green)		1,000	1,090	1,020	900	1,000	600	625
Cloves		1,350	1,090	900	1,586	2,755	500	…
Clove buds		1,256	1,014	837	949	1,380	250	1500
Ylang-ylang
	Flowers (units)	3,800	3,300	3,160	3,480	2,385	3,180	2,650
	Essence	71	62	59	65	45	60	50

Sources: Comorian Office of Vanilla; and Directorate of Projects, Ministry of Agricultural Production, Marine Resources, and Environment.

Table 9.

Comoros: Prices of Export Crops, 1990-96

(In Comorian francs per kilogram)

Sources: Comorian Office of Vanilla; and General Directorate of Customs.

^{^1/}The yield from 5 kilograms of green vanilla is about 1 kilogram of dried vanilla.

^{^2/}Floor prices.

^{^3/}No exports have been recorded since 1989.

Table 9.

Comoros: Prices of Export Crops, 1990-96

(In Comorian francs per kilogram)

		1990	1991	1992	1993	1994	1995	1996
Vanilla ¹/
	Product price (green vanilla) ²/	2,500	2,000	2,000	1,250	1,250	1,350	550
	Export price, f.o.b. (dried vanilla)	20,045	18,849	17,483	16,667	21,164	14,542	11,318
Ylang-ylang
	Producer price (flowers)	90	94	100	110	110	110	…
	Export price, f.o.b. (essence)	21,070	23,070	25,327	21,044	20,687	19,704	17,684
Cloves
	Producer price	360	200	120	170	190	190	…
	Export price, f.o.b.	533	397	227	171	190	277	255
Coprah
	Producer price	41	…	…	…	…	…	…
	Export price, f.o.b. ³/	…	…	…	…	…	…	…

Sources: Comorian Office of Vanilla; and General Directorate of Customs.

^{^1/}The yield from 5 kilograms of green vanilla is about 1 kilogram of dried vanilla.

^{^2/}Floor prices.

^{^3/}No exports have been recorded since 1989.

Table 9.

Comoros: Prices of Export Crops, 1990-96

(In Comorian francs per kilogram)

		1990	1991	1992	1993	1994	1995	1996
Vanilla ¹/
	Product price (green vanilla) ²/	2,500	2,000	2,000	1,250	1,250	1,350	550
	Export price, f.o.b. (dried vanilla)	20,045	18,849	17,483	16,667	21,164	14,542	11,318
Ylang-ylang
	Producer price (flowers)	90	94	100	110	110	110	…
	Export price, f.o.b. (essence)	21,070	23,070	25,327	21,044	20,687	19,704	17,684
Cloves
	Producer price	360	200	120	170	190	190	…
	Export price, f.o.b.	533	397	227	171	190	277	255
Coprah
	Producer price	41	…	…	…	…	…	…
	Export price, f.o.b. ³/	…	…	…	…	…	…	…

Sources: Comorian Office of Vanilla; and General Directorate of Customs.

^{^1/}The yield from 5 kilograms of green vanilla is about 1 kilogram of dried vanilla.

^{^2/}Floor prices.

^{^3/}No exports have been recorded since 1989.

Table 10.

Comoros: Cost Structure of Vanilla Exports, 1991-96

(In Comorian francs per kilogram of dried vanilla) ¹/

Sources: Comorian Office of Vanilla; and General Directorate of Customs.

^{^1/}The yield from 5 kilograms of green vanilla is about 1 kilogram of dried vanilla.

^{^2/}Equivalent dried vanilla.

^{^3/}From 1992, includes contributions to the Fonds de Solidarité Vanille.

Table 10.

Comoros: Cost Structure of Vanilla Exports, 1991-96

(In Comorian francs per kilogram of dried vanilla) ¹/

Cost elements			1991	1992	1993	1994	1995	1996
		Producer price ²/	9,250	9,250	6,250	10,000	6,250	2,500
		Collection fees ²/	750	750	500	750	500	250
		Preparation of green vanilla	2,000	2,000	1,750	2,200	2,200	1,700
		Financial and miscellaneous costs	3,185	3,652	2,796	2,643	1,916	1,262
	Total ex-warehouse costs		15,185	15,652	11,296	15,593	10,866	5,712
	Customs duties and other taxes ³/		1,933	2,130	1,568	4,446	1,572	1,031
	Transportation and insurance		1,382	2,198	133	208	131	80
Total f.o.b. cost at Moroni Port			18,500	19,980	12,997	20,247	12,569	6,823

Sources: Comorian Office of Vanilla; and General Directorate of Customs.

^{^1/}The yield from 5 kilograms of green vanilla is about 1 kilogram of dried vanilla.

^{^2/}Equivalent dried vanilla.

^{^3/}From 1992, includes contributions to the Fonds de Solidarité Vanille.

Table 10.

Comoros: Cost Structure of Vanilla Exports, 1991-96

(In Comorian francs per kilogram of dried vanilla) ¹/

Cost elements			1991	1992	1993	1994	1995	1996
		Producer price ²/	9,250	9,250	6,250	10,000	6,250	2,500
		Collection fees ²/	750	750	500	750	500	250
		Preparation of green vanilla	2,000	2,000	1,750	2,200	2,200	1,700
		Financial and miscellaneous costs	3,185	3,652	2,796	2,643	1,916	1,262
	Total ex-warehouse costs		15,185	15,652	11,296	15,593	10,866	5,712
	Customs duties and other taxes ³/		1,933	2,130	1,568	4,446	1,572	1,031
	Transportation and insurance		1,382	2,198	133	208	131	80
Total f.o.b. cost at Moroni Port			18,500	19,980	12,997	20,247	12,569	6,823

Sources: Comorian Office of Vanilla; and General Directorate of Customs.

^{^1/}The yield from 5 kilograms of green vanilla is about 1 kilogram of dried vanilla.

^{^2/}Equivalent dried vanilla.

^{^3/}From 1992, includes contributions to the Fonds de Solidarité Vanille.

Table 11.

Comoros: Production and Consumption of Electricity, 1990-96

Source: Electricity and water company.

^{^1/}The difference between production and consumption reflects power losses and fraud.

^{^2/}Generators were transferred from Mutsamudu to Ntrenani.

Table 11.

Comoros: Production and Consumption of Electricity, 1990-96

		1990	1991	1992	1993	1994	1995	1996
		(In thousands of kilowatt-hours)
Production ¹/		20,366	24,426	27,247	28,222	20,323	32,045	30,857
Consumption ¹/		13,418	15,430	16,742	16,660	17,742	22,861	21,408
		(In kilowatts)
Installed capacity		9,180	9,584	9,456	9,498	9,238	9,478	9,750
Anjouan		2,032	2,284	2,284	2,260	2,000	2,000	1,960
	Ntrenani ²/	1,920	1,920	1,920	1,920	1,920	1,920	1,920
	Domoni	0	300	300	300	…	…	0
	Dima	112	64	64	40	80	80	40
Mohéli		664	864	864	550	550	790	790
Grande Comore		6,484	6,436	6,308	6,688	6,688	6,688	7,000
	Foumbouni et M’Beni	348	300	220	380	380	380	560
	Voidjou	6,000	6,000	6,000	6,000	6,000	6,000	6,000
	Ouzioini	96	96	88	88	88	88	220
Dembén		40	40	…	220	220	220	220

Source: Electricity and water company.

^{^1/}The difference between production and consumption reflects power losses and fraud.

^{^2/}Generators were transferred from Mutsamudu to Ntrenani.

Table 11.

Comoros: Production and Consumption of Electricity, 1990-96

		1990	1991	1992	1993	1994	1995	1996
		(In thousands of kilowatt-hours)
Production ¹/		20,366	24,426	27,247	28,222	20,323	32,045	30,857
Consumption ¹/		13,418	15,430	16,742	16,660	17,742	22,861	21,408
		(In kilowatts)
Installed capacity		9,180	9,584	9,456	9,498	9,238	9,478	9,750
Anjouan		2,032	2,284	2,284	2,260	2,000	2,000	1,960
	Ntrenani ²/	1,920	1,920	1,920	1,920	1,920	1,920	1,920
	Domoni	0	300	300	300	…	…	0
	Dima	112	64	64	40	80	80	40
Mohéli		664	864	864	550	550	790	790
Grande Comore		6,484	6,436	6,308	6,688	6,688	6,688	7,000
	Foumbouni et M’Beni	348	300	220	380	380	380	560
	Voidjou	6,000	6,000	6,000	6,000	6,000	6,000	6,000
	Ouzioini	96	96	88	88	88	88	220
Dembén		40	40	…	220	220	220	220

Source: Electricity and water company.

^{^1/}The difference between production and consumption reflects power losses and fraud.

^{^2/}Generators were transferred from Mutsamudu to Ntrenani.

Table 12.

Comoros: Indicators of Tourism Activity, 1990-96

Source: General Directorate of Tourism, Ministry of Transportation and Tourism.

^{^1/}No official data have been provided by the Galawa Hotel.

^{^2/}Members of the Cooperation Council for the Arab States of the Gulf.

^{^3/}Estimate for 1991.

^{^4/}Includes the Ylang-Ylang, Coelacanthe, Maloudja, and Al Amal hotels.

^{^5/}The Sun Resorts Group includes the Galawa, Maloudja, and Itsandra hotels.

^{^6/}Includes the Itsandra, Kartala, and, since 1986, the Relais de Singali hotels.

^{^7/}From 1993, includes the other hotels.

Table 12.

Comoros: Indicators of Tourism Activity, 1990-96

				1990	1991	1992	1993	1994	1995	1996
Tourist accommodation available ¹/
	(number of beds)			276	326	326	615	615	615	715
Number of visitors				7,627	16,942	18,921	23,671	27,061	22,838	23,775
By origin (in percent of total)
	Europe			…	57.2	54.9	55.0	68.0	62.0	44.7
		of which: France		…	45.5	44.8	45.4	50.7	41.4	33.6
	Africa and Indian Ocean			…	39.2	40.5	40.3	29.4	34.8	47.8
		of which: South Africa		…	33.1	35.2	34.5	23.8	28.6	33.6
	Other countries			…	3.6	4.7	4.7	2.6	3.2	7.6
		of which: Gulf states ²/		…	…	…	…	…	…	6.1
Visitor overnights ³/				15,068	64,298	82,521	144,300	130,561	130,600	127,200
			COMOTEL ⁴/	13,968	14,510	17,233	…	…	…	…
			Galawa ⁵/	…	49,788	65,288	117,458	103,161	103,200	99,200
			Other ⁶/	1,100	…	…	26,842	27,400	27,400	28,000
Average length of stay
	(in days)			6	6	6	9	9	9	9
	of which: COMOTEL			4	4	4	10	10	10	10
			Galawa	8	8	8	8	8	8	8
Average room occupancy rate (in percent)
	COMOTEL ⁷/			28.0	32.0	29.6	28.0	25.2	24.5	31.0
	Galawa			…	48.7	51.8	62.0	72.0	70.0	64.0
Turnover
	(in billions of Comorian francs)			…	…	…	4.0	3.9	3.6	3.5
	of which: COMOTEL 8/			0.4	0.4	0.5	0.2	0.6	0.5	0.4
			Galawa	…	1.6	2.1	3.8	3.3	3.1	3.1

Source: General Directorate of Tourism, Ministry of Transportation and Tourism.

^{^1/}No official data have been provided by the Galawa Hotel.

^{^2/}Members of the Cooperation Council for the Arab States of the Gulf.

^{^3/}Estimate for 1991.

^{^4/}Includes the Ylang-Ylang, Coelacanthe, Maloudja, and Al Amal hotels.

^{^5/}The Sun Resorts Group includes the Galawa, Maloudja, and Itsandra hotels.

^{^6/}Includes the Itsandra, Kartala, and, since 1986, the Relais de Singali hotels.

^{^7/}From 1993, includes the other hotels.

Table 12.

Comoros: Indicators of Tourism Activity, 1990-96

				1990	1991	1992	1993	1994	1995	1996
Tourist accommodation available ¹/
	(number of beds)			276	326	326	615	615	615	715
Number of visitors				7,627	16,942	18,921	23,671	27,061	22,838	23,775
By origin (in percent of total)
	Europe			…	57.2	54.9	55.0	68.0	62.0	44.7
		of which: France		…	45.5	44.8	45.4	50.7	41.4	33.6
	Africa and Indian Ocean			…	39.2	40.5	40.3	29.4	34.8	47.8
		of which: South Africa		…	33.1	35.2	34.5	23.8	28.6	33.6
	Other countries			…	3.6	4.7	4.7	2.6	3.2	7.6
		of which: Gulf states ²/		…	…	…	…	…	…	6.1
Visitor overnights ³/				15,068	64,298	82,521	144,300	130,561	130,600	127,200
			COMOTEL ⁴/	13,968	14,510	17,233	…	…	…	…
			Galawa ⁵/	…	49,788	65,288	117,458	103,161	103,200	99,200
			Other ⁶/	1,100	…	…	26,842	27,400	27,400	28,000
Average length of stay
	(in days)			6	6	6	9	9	9	9
	of which: COMOTEL			4	4	4	10	10	10	10
			Galawa	8	8	8	8	8	8	8
Average room occupancy rate (in percent)
	COMOTEL ⁷/			28.0	32.0	29.6	28.0	25.2	24.5	31.0
	Galawa			…	48.7	51.8	62.0	72.0	70.0	64.0
Turnover
	(in billions of Comorian francs)			…	…	…	4.0	3.9	3.6	3.5
	of which: COMOTEL 8/			0.4	0.4	0.5	0.2	0.6	0.5	0.4
			Galawa	…	1.6	2.1	3.8	3.3	3.1	3.1

Source: General Directorate of Tourism, Ministry of Transportation and Tourism.

^{^1/}No official data have been provided by the Galawa Hotel.

^{^2/}Members of the Cooperation Council for the Arab States of the Gulf.

^{^3/}Estimate for 1991.

^{^4/}Includes the Ylang-Ylang, Coelacanthe, Maloudja, and Al Amal hotels.

^{^5/}The Sun Resorts Group includes the Galawa, Maloudja, and Itsandra hotels.

^{^6/}Includes the Itsandra, Kartala, and, since 1986, the Relais de Singali hotels.

^{^7/}From 1993, includes the other hotels.

Table 13.

Comoros: Indicators of Population, Employment, and Education, 1990-96

Sources: Directorate of Statistics; Ministry of Health, Social Affairs, and Education.

^{^1/}Includes the training school for teachers.

^{^2/}Since 1994, the number of state scholarships granted.

Table 13.

Comoros: Indicators of Population, Employment, and Education, 1990-96

					1990	1991	1992	1993	1994	1995	1996
Population and employment
	Total population (in thousands)				461.6	446.8	458.9	471.3	484.0	497.0	510.5
	Labor force (in thousands)				139.3	126.5	129.9	133.4	137.0	140.7	144.5
		of which: wage earners			…	15.9	…	…	…	…	…
	Unemployed (in thousands)				…	25.2	…	…	…	…	…
	Unemployed (in percent of labor force)				…	20.0	…	…	…	…	…
Education
	Primary enrollment
		(number of pupils)			67,825	62,680	…	72,759	77,919	78,527	…
			of which: public		…	…	…	…	75,192	31,916	…
				private	…	…	…	…	2,727	46,611	…
	Secondary enrollment				14,472	15,681	…	13,285	18,037	21,192	…
	Vocational schools ¹/				225	174	…	…	598	437	…
	Higher education ²/				248	268	…	…	749	1,101	…

Sources: Directorate of Statistics; Ministry of Health, Social Affairs, and Education.

^{^1/}Includes the training school for teachers.

^{^2/}Since 1994, the number of state scholarships granted.

Table 13.

Comoros: Indicators of Population, Employment, and Education, 1990-96

					1990	1991	1992	1993	1994	1995	1996
Population and employment
	Total population (in thousands)				461.6	446.8	458.9	471.3	484.0	497.0	510.5
	Labor force (in thousands)				139.3	126.5	129.9	133.4	137.0	140.7	144.5
		of which: wage earners			…	15.9	…	…	…	…	…
	Unemployed (in thousands)				…	25.2	…	…	…	…	…
	Unemployed (in percent of labor force)				…	20.0	…	…	…	…	…
Education
	Primary enrollment
		(number of pupils)			67,825	62,680	…	72,759	77,919	78,527	…
			of which: public		…	…	…	…	75,192	31,916	…
				private	…	…	…	…	2,727	46,611	…
	Secondary enrollment				14,472	15,681	…	13,285	18,037	21,192	…
	Vocational schools ¹/				225	174	…	…	598	437	…
	Higher education ²/				248	268	…	…	749	1,101	…

Sources: Directorate of Statistics; Ministry of Health, Social Affairs, and Education.

^{^1/}Includes the training school for teachers.

^{^2/}Since 1994, the number of state scholarships granted.

Table 14.

Comoros: Consumer Price Index, 1989-96 ¹/

(For 1989-93, index 1986 = 100; for 1994-96, index 1993 = 100)

Sources: Directorate of Statistics; and Fund staff estimates.

^{^1/}For Moroni only.

^{^2/}Imports from the members of the Cooperation Council for the Arab States of the Gulf in 1995.

^{^3/}Sharp increase in spice prices in 1995.

^{^4/}Introduction of generic medicines in 1995.

Table 14.

Comoros: Consumer Price Index, 1989-96 ¹/

(For 1989-93, index 1986 = 100; for 1994-96, index 1993 = 100)

			Weight	1989	1990	1991	1992	1993	1994	1995	1996
Foodstuffs and tobacco			71.4	114.2	…	…	101.5	102.2	125.8	144.3	136.1
	Cereals and starches		21.2	114.6	…	…	106.6	104.7	115.4	153.2	142.5
	Fruits and legumes		12.0	131.6	…	…	111.6	107.2	154.3	146.9	121.1
	Milk and fats ²/		7.7	99.3	…	…	104.3	102.0	121.7	95.5	125.1
	Meat and fish		17.9	99.3	…	…	82.7	83.9	110.0	110.0	132.3
	Groceries ³/		8.5	135.1	…	…	123.4	147.1	146.3	171.6	153.5
	Tobacco and cigarettes		4.1	105.5	…	…	76.7	76.7	126.3	127.9	134.2
Other products			28.6	93.3	…	…	99.7	100.3	124.1	113.4	136.2
	Clothing		11.6	92.6	…	…	95.6	96.5	122.7	146.3	162.2
	Energy		3.8	97.4	…	…	73.3	74.2	119.5	116.4	115.0
	Household capital goods		3.0	71.1	…	…	122.9	121.9	143.8	150.9	143.2
	Healthcare ⁴/		3.2	106.6	…	…	120.5	120.4	118.0	53.8	58.2
	Transportation		2.2	100.0	…	…	100.0	100.0	122.1	143.2	129.6
	Education and leisure		2.5	93.4	…	…	98.5	98.9	120.1	147.2	144.6
	Rent		2.3	94.2	…	…	105.0	105.0	125.3	121.7	136.3
		Total	100.0	108.2	100.2	98.5	101.1	103.0	125.3	134.2	136.1
Memorandum item:			(Annual change in percent)
	Consumer price index		…	4.4	−7.4	−1.7	2.6	1.9	25.3	7.1	1.4

Sources: Directorate of Statistics; and Fund staff estimates.

^{^1/}For Moroni only.

^{^2/}Imports from the members of the Cooperation Council for the Arab States of the Gulf in 1995.

^{^3/}Sharp increase in spice prices in 1995.

^{^4/}Introduction of generic medicines in 1995.

Table 14.

Comoros: Consumer Price Index, 1989-96 ¹/

(For 1989-93, index 1986 = 100; for 1994-96, index 1993 = 100)

			Weight	1989	1990	1991	1992	1993	1994	1995	1996
Foodstuffs and tobacco			71.4	114.2	…	…	101.5	102.2	125.8	144.3	136.1
	Cereals and starches		21.2	114.6	…	…	106.6	104.7	115.4	153.2	142.5
	Fruits and legumes		12.0	131.6	…	…	111.6	107.2	154.3	146.9	121.1
	Milk and fats ²/		7.7	99.3	…	…	104.3	102.0	121.7	95.5	125.1
	Meat and fish		17.9	99.3	…	…	82.7	83.9	110.0	110.0	132.3
	Groceries ³/		8.5	135.1	…	…	123.4	147.1	146.3	171.6	153.5
	Tobacco and cigarettes		4.1	105.5	…	…	76.7	76.7	126.3	127.9	134.2
Other products			28.6	93.3	…	…	99.7	100.3	124.1	113.4	136.2
	Clothing		11.6	92.6	…	…	95.6	96.5	122.7	146.3	162.2
	Energy		3.8	97.4	…	…	73.3	74.2	119.5	116.4	115.0
	Household capital goods		3.0	71.1	…	…	122.9	121.9	143.8	150.9	143.2
	Healthcare ⁴/		3.2	106.6	…	…	120.5	120.4	118.0	53.8	58.2
	Transportation		2.2	100.0	…	…	100.0	100.0	122.1	143.2	129.6
	Education and leisure		2.5	93.4	…	…	98.5	98.9	120.1	147.2	144.6
	Rent		2.3	94.2	…	…	105.0	105.0	125.3	121.7	136.3
		Total	100.0	108.2	100.2	98.5	101.1	103.0	125.3	134.2	136.1
Memorandum item:			(Annual change in percent)
	Consumer price index		…	4.4	−7.4	−1.7	2.6	1.9	25.3	7.1	1.4

Sources: Directorate of Statistics; and Fund staff estimates.

^{^1/}For Moroni only.

^{^2/}Imports from the members of the Cooperation Council for the Arab States of the Gulf in 1995.

^{^3/}Sharp increase in spice prices in 1995.

^{^4/}Introduction of generic medicines in 1995.

Table 15.

Comoros: Prices of Essential Goods, 1990-96 ¹/

(In Comorian francs per unit, unless otherwise indicated)

Source: Directorate of Statistics.

^{^1/}Unit values of imports are calculated on the basis of imports, c.i.f.

^{^2/}Average retail price per liter at new stations.

^{^3/}The lower price is the tax exempt price paid by the electricity and water company.

^{^4/}The higher price is for jet kerosene, sold only to civil aviation.

Table 15.

Comoros: Prices of Essential Goods, 1990-96 ¹/

(In Comorian francs per unit, unless otherwise indicated)

			1990	1991	1992	1993	1994	1995	1996
Rice (kilogram)
	Unit value of imports		75	72	66	54	92	126	109
	Retail price		160	160	155	155	225	225	254
		Annual change (in percent)	−8.6	0.0	−3.1	0.0	45.2	0.0	12.9
		Retail/import price	2.13	2.23	2.33	2.84	2.45	1.78	2.34
Sugar (kilogram)
	Unit value of imports		161	179	179	149	218	229	222
	Retail price		330	280	280	370	450	450	375
		Annual change (in percent)	−8.6	−15.2	0.0	32.1	21.6	0.0	−16.7
		Retail/import price	2.05	1.57	1.57	2.48	2.06	1.96	1.69
Flour (kilogram)
	Retail price		175	125	175	135	250	250	303
		Annual change (in percent)	−32.7	−28.6	40.0	−22.9	85.2	0.0	21.2
Salt (kilogram)
	Retail price		80-100	80-100	80-100	90-100	90-100	90-100	150
Cement (metric ton)
	Unit value of imports		24,290	31,095	25,313	25,313	42,733	38,137	36,529
	Retail price		44,000	45,000	46,500	46,000	65,000	75,000	70,920
		Annual change (in percent)	−15.4	2.3	3.3	−1.1	41.3	15.4	−5.4
		Retail/import price	1.81	1.45	1.84	1.82	1.52	1.97	1.94
Petroleum products (liter) ²/
	Regular gasoline		280	285	285	285	325	325	325
	Diesel ³/		170	180	180	180	125-210	125-295	125-295
	Kerosene ⁴/		115	128	128	128	125-190	125-190	125-190
Electricity (kilowatt-hour)
	Retail price		100-110	100-110	110-120	100-110	100-110	100-110	100-110
Water (cubic meter)
	Retail price		210-213	210-213	210-213	205-220	205-220	205-220	205-220

Source: Directorate of Statistics.

^{^1/}Unit values of imports are calculated on the basis of imports, c.i.f.

^{^2/}Average retail price per liter at new stations.

^{^3/}The lower price is the tax exempt price paid by the electricity and water company.

^{^4/}The higher price is for jet kerosene, sold only to civil aviation.

Table 15.

Comoros: Prices of Essential Goods, 1990-96 ¹/

(In Comorian francs per unit, unless otherwise indicated)

			1990	1991	1992	1993	1994	1995	1996
Rice (kilogram)
	Unit value of imports		75	72	66	54	92	126	109
	Retail price		160	160	155	155	225	225	254
		Annual change (in percent)	−8.6	0.0	−3.1	0.0	45.2	0.0	12.9
		Retail/import price	2.13	2.23	2.33	2.84	2.45	1.78	2.34
Sugar (kilogram)
	Unit value of imports		161	179	179	149	218	229	222
	Retail price		330	280	280	370	450	450	375
		Annual change (in percent)	−8.6	−15.2	0.0	32.1	21.6	0.0	−16.7
		Retail/import price	2.05	1.57	1.57	2.48	2.06	1.96	1.69
Flour (kilogram)
	Retail price		175	125	175	135	250	250	303
		Annual change (in percent)	−32.7	−28.6	40.0	−22.9	85.2	0.0	21.2
Salt (kilogram)
	Retail price		80-100	80-100	80-100	90-100	90-100	90-100	150
Cement (metric ton)
	Unit value of imports		24,290	31,095	25,313	25,313	42,733	38,137	36,529
	Retail price		44,000	45,000	46,500	46,000	65,000	75,000	70,920
		Annual change (in percent)	−15.4	2.3	3.3	−1.1	41.3	15.4	−5.4
		Retail/import price	1.81	1.45	1.84	1.82	1.52	1.97	1.94
Petroleum products (liter) ²/
	Regular gasoline		280	285	285	285	325	325	325
	Diesel ³/		170	180	180	180	125-210	125-295	125-295
	Kerosene ⁴/		115	128	128	128	125-190	125-190	125-190
Electricity (kilowatt-hour)
	Retail price		100-110	100-110	110-120	100-110	100-110	100-110	100-110
Water (cubic meter)
	Retail price		210-213	210-213	210-213	205-220	205-220	205-220	205-220

Source: Directorate of Statistics.

^{^1/}Unit values of imports are calculated on the basis of imports, c.i.f.

^{^2/}Average retail price per liter at new stations.

^{^3/}The lower price is the tax exempt price paid by the electricity and water company.

^{^4/}The higher price is for jet kerosene, sold only to civil aviation.

Table 16.

Comoros: Consolidated Government Financial Operations, 1990-96

(In millions of Comorian francs)

Sources: Ministry of Finance; and Fund staff estimates.

^{^1/}Mainly Stabilization System for Export Earnings and food aid.

^{^2/}From 1989, includes the impact of debt cancellation by France.

^{^3/}From 1991, includes only technical assistance that is not related to projects.

^{^4/}From 1991, includes technical-assistance-linked projects and project operating costs.

^{^5/}PIP = public investment program

^{^6/}Reflects unrecorded expenditure or incomplete data on domestic arrears, as well as float.

Table 16.

Comoros: Consolidated Government Financial Operations, 1990-96

(In millions of Comorian francs)

				1990	1991	1992	1993	1994	1995	1996
Total revenue and grants				21,822	20,996	21,740	21,633	23,700	20,951	18,593
	Revenue			11,569	9,676	10,692	10,854	11,067	11,479	11,307
		Tax revenue		8,181	7,602	9,208	9,491	9,799	9,902	9,966
		Nontax revenue		3,388	2,074	1,483	1,363	1,268	1,577	1,341
	Exceptional revenue			−-	−-	456	−-	−-	−-	−-
	External grants			10,253	11,321	10,592	10,779	12,633	9,472	7,286
		Budgetary assistance		2,340	4,112	1,130	2,610	2,418	793	1,380
		Project and technical assistance financing		7,913	7,209	8,873	7,104	10,215	8,679	5,906
		Other nonbudgetary aid ¹/		−-	−-	590	1,065	−-	−-	−-
Total expenditure and net lending				22,144	22,527	23,518	19,709	29,640	27,310	23,353
	Current expenditure			18,523	19,330	15,919	16,638	20,136	21,477	18,239
		Budgetary		13,070	14,030	12,562	13,038	14,836	15,977	13,873
			Wages and salaries	6,820	7,202	6,525	6,075	6,871	7,728	8,285
			Goods and services	4,421	5,005	4,624	5,207	6,008	6,110	4,149
			Transfers	891	980	733	1,025	1,048	1,327	662
			Interest payments ²/	938	843	680	732	910	812	777
		Technical assistance ³/		5,453	5,300	3,358	3,600	5,300	5,500	4,366
	Capital expenditure			3,560	3,197	7,685	5,342	8,019	5,545	5,115
		Budgetary		811	606	1,314	1,091	638	475	703
		Financed externally ⁴/		2,749	2,591	6,371	4,252	7,382	5,070	4,411
	Net lending			61		−86	−2,271	393	−-	−-
	Civil service action plan			−-	−-	−-	−-	1,091	288	−-
Overall balance (payment order)				−322	−1,530	−1,779	1,924	−5,940	−6,359	−4,761
	Excluding grants			−10,575	−12,851	−12,371	−8,855	−18,573	−15,831	−12,046
Change in net arrears				601	−4,220	1,297	−1,399	−264	2,903	2,357
	Interest on external debt			686	−2,636	−1,873	499	−786	630	590
	Domestic arrears			−1,964	−1,636	2,549	−1,997	996	2,339	2,508
	Deposits at treasury			1,879	52	621	100	−474	−66	−740
Overall balance (cash basis)				−1,600	−5,802	−1,103	425	−5,730	−3,390	−1,663
Financing				1,600	5,802	1,103	−425	5,730	3,390	1,663
	Foreign (net)			680	4,899	90	1,325	4,462	2,961	2,536
			Drawings, PIP (identified) ⁵/	289	682	856	748	2,467	1,891	2,872
			Drawings, adjustment loans	447	1,053	1,322	623	767	1,199	−-
			Amortization	−1,538	−1,772	−1,946	−2,132	−7,970	−3,544	−6,138
			Exceptional financing	−-	10,025	12	4,720	8,090	807	3,434
			Arrears (principal)	1,482	−5,090	−153	−2,635	1,108	2,609	2,369
	Domestic (net)			920	903	1,012	−1,750	1,268	429	−873
			Bank financing	−407	851	−71	−1,850	1,372	897	−133
			Deposits at Treasury	1,879	52	621	100	−474	−66	−740
			Nonbank financing ⁶/	−552	−-	462	−-	370	−402	−-

Sources: Ministry of Finance; and Fund staff estimates.

^{^1/}Mainly Stabilization System for Export Earnings and food aid.

^{^2/}From 1989, includes the impact of debt cancellation by France.

^{^3/}From 1991, includes only technical assistance that is not related to projects.

^{^4/}From 1991, includes technical-assistance-linked projects and project operating costs.

^{^5/}PIP = public investment program

^{^6/}Reflects unrecorded expenditure or incomplete data on domestic arrears, as well as float.

Table 16.

Comoros: Consolidated Government Financial Operations, 1990-96

(In millions of Comorian francs)

				1990	1991	1992	1993	1994	1995	1996
Total revenue and grants				21,822	20,996	21,740	21,633	23,700	20,951	18,593
	Revenue			11,569	9,676	10,692	10,854	11,067	11,479	11,307
		Tax revenue		8,181	7,602	9,208	9,491	9,799	9,902	9,966
		Nontax revenue		3,388	2,074	1,483	1,363	1,268	1,577	1,341
	Exceptional revenue			−-	−-	456	−-	−-	−-	−-
	External grants			10,253	11,321	10,592	10,779	12,633	9,472	7,286
		Budgetary assistance		2,340	4,112	1,130	2,610	2,418	793	1,380
		Project and technical assistance financing		7,913	7,209	8,873	7,104	10,215	8,679	5,906
		Other nonbudgetary aid ¹/		−-	−-	590	1,065	−-	−-	−-
Total expenditure and net lending				22,144	22,527	23,518	19,709	29,640	27,310	23,353
	Current expenditure			18,523	19,330	15,919	16,638	20,136	21,477	18,239
		Budgetary		13,070	14,030	12,562	13,038	14,836	15,977	13,873
			Wages and salaries	6,820	7,202	6,525	6,075	6,871	7,728	8,285
			Goods and services	4,421	5,005	4,624	5,207	6,008	6,110	4,149
			Transfers	891	980	733	1,025	1,048	1,327	662
			Interest payments ²/	938	843	680	732	910	812	777
		Technical assistance ³/		5,453	5,300	3,358	3,600	5,300	5,500	4,366
	Capital expenditure			3,560	3,197	7,685	5,342	8,019	5,545	5,115
		Budgetary		811	606	1,314	1,091	638	475	703
		Financed externally ⁴/		2,749	2,591	6,371	4,252	7,382	5,070	4,411
	Net lending			61		−86	−2,271	393	−-	−-
	Civil service action plan			−-	−-	−-	−-	1,091	288	−-
Overall balance (payment order)				−322	−1,530	−1,779	1,924	−5,940	−6,359	−4,761
	Excluding grants			−10,575	−12,851	−12,371	−8,855	−18,573	−15,831	−12,046
Change in net arrears				601	−4,220	1,297	−1,399	−264	2,903	2,357
	Interest on external debt			686	−2,636	−1,873	499	−786	630	590
	Domestic arrears			−1,964	−1,636	2,549	−1,997	996	2,339	2,508
	Deposits at treasury			1,879	52	621	100	−474	−66	−740
Overall balance (cash basis)				−1,600	−5,802	−1,103	425	−5,730	−3,390	−1,663
Financing				1,600	5,802	1,103	−425	5,730	3,390	1,663
	Foreign (net)			680	4,899	90	1,325	4,462	2,961	2,536
			Drawings, PIP (identified) ⁵/	289	682	856	748	2,467	1,891	2,872
			Drawings, adjustment loans	447	1,053	1,322	623	767	1,199	−-
			Amortization	−1,538	−1,772	−1,946	−2,132	−7,970	−3,544	−6,138
			Exceptional financing	−-	10,025	12	4,720	8,090	807	3,434
			Arrears (principal)	1,482	−5,090	−153	−2,635	1,108	2,609	2,369
	Domestic (net)			920	903	1,012	−1,750	1,268	429	−873
			Bank financing	−407	851	−71	−1,850	1,372	897	−133
			Deposits at Treasury	1,879	52	621	100	−474	−66	−740
			Nonbank financing ⁶/	−552	−-	462	−-	370	−402	−-

Sources: Ministry of Finance; and Fund staff estimates.

^{^1/}Mainly Stabilization System for Export Earnings and food aid.

^{^2/}From 1989, includes the impact of debt cancellation by France.

^{^3/}From 1991, includes only technical assistance that is not related to projects.

^{^4/}From 1991, includes technical-assistance-linked projects and project operating costs.

^{^5/}PIP = public investment program

^{^6/}Reflects unrecorded expenditure or incomplete data on domestic arrears, as well as float.

Table 17.

Comoros: Consolidated Government Revenue and Grants, 1990-96

(In millions of Comorian francs)

Sources: Ministry of Finance; Technical Committee for the Surveillance of the Staff-Monitored Program; and Fund staff estimates.

^{^1/}As of October 1, 1991, represents a single 5 percent levy on the value, c.i.f., for miscellaneous taxes.

^{^2/}Introduced in September 1991 to replace various taxes on petroleum products and rice. 10 percent of the tax proceeds from petroleum products are credited to the Road Fund, and 90 percent to the budget, which is the amount shown here.

^{^3/}In 1991, includes CF 498 million in taxes that have not been classified.

^{^4/}Including fishing rights.

^{^5/}On-lending of public enterprises debt (previous fiscal years) and release of deposits.

^{^6/}Excluding exceptional revenue in 1992.

Table 17.

Comoros: Consolidated Government Revenue and Grants, 1990-96

(In millions of Comorian francs)

				1990	1991	1992	1993	1994	1995	1996
Tax revenue				8,181	7,602	9,208	9,491	9,799	9,902	9,966
	Taxes on income and profits			2,287	1,311	1,237	974	1,399	1,403	1,442
		of which
			Corporate (IBD)	2,139	1,098	895	621	973	880	875
			Individual (IGR)	148	213	335	344	412	478	464
	Taxes on property			80	105	93	121	123	122	119
		Buildings		48	60	40	61	71	78	65
		Registration		32	45	53	61	52	44	54
	Taxes on goods and services			950	1,057	870	978	929	1,093	976
		Turnover		798	896	745	800	756	946	765
		Business and professional licenses		142	152	116	145	149	144	208
		Other		10	9	9	34	23	3	3
	Taxes on international trade			4,832	3,734	3,590	3,969	4,045	3,706	3,837
		Consumption tax on imports		3,039	2,355	1,845	2,037	1,860	1,711	1,254
		Import duties		548	382	412	715	967	926	568
		Single administrative fee ¹/		363	432	490	395	395	369	242
		Export duties		568	223	398	568	555	309	123
		Other		314	341	446	255	269	390	1,650
	Unified tax ²/			−-	795	3,299	3,341	3,132	3,303	3,565
		Petroleum products		−-	394	1,782	1,878	2,103	2,240	2,377
		Rice		−-	401	1,517	1,464	1,029	1,063	1,188
	Other tax revenue ³/			32	600	119	106	171	274	28
Nontax revenue				3,388	2,074	1,483	1,363	1,268	1,577	1,341
	Income from land ⁴/			160	3	248	104	115	219	14
	Proceeds from services			2,679	1,372	508	661	525	442	572
	Other nontax revenue			549	699	727	599	628	916	755
Total revenue				11,569	9,676	10,692	10,854	11,067	11,479	11,307
Memorandum item:
	Total revenue, excluding exceptional factors ⁵/			11,569	9,676	10,236	10,854	11,067	11,479	11,307
Grants				0,253	11,321	10,592	10,779	12,633	9,472	7,286
	Budgetary			2,340	4,112	1,130	2,610	2,418	793	1,380
	Project financing and technical assistance			7,913	7,209	8,873	7,104	10,215	8,679	5,906
	Other nonbudgetary assistance			−-	−-	590	1,065	−-	−-	−-
Total revenue and grants ⁶/				21,822	20,996	21,284	21,633	23,700	20,915	18,593

Sources: Ministry of Finance; Technical Committee for the Surveillance of the Staff-Monitored Program; and Fund staff estimates.

^{^1/}As of October 1, 1991, represents a single 5 percent levy on the value, c.i.f., for miscellaneous taxes.

^{^3/}In 1991, includes CF 498 million in taxes that have not been classified.

^{^4/}Including fishing rights.

^{^5/}On-lending of public enterprises debt (previous fiscal years) and release of deposits.

^{^6/}Excluding exceptional revenue in 1992.

Table 17.

Comoros: Consolidated Government Revenue and Grants, 1990-96

(In millions of Comorian francs)

				1990	1991	1992	1993	1994	1995	1996
Tax revenue				8,181	7,602	9,208	9,491	9,799	9,902	9,966
	Taxes on income and profits			2,287	1,311	1,237	974	1,399	1,403	1,442
		of which
			Corporate (IBD)	2,139	1,098	895	621	973	880	875
			Individual (IGR)	148	213	335	344	412	478	464
	Taxes on property			80	105	93	121	123	122	119
		Buildings		48	60	40	61	71	78	65
		Registration		32	45	53	61	52	44	54
	Taxes on goods and services			950	1,057	870	978	929	1,093	976
		Turnover		798	896	745	800	756	946	765
		Business and professional licenses		142	152	116	145	149	144	208
		Other		10	9	9	34	23	3	3
	Taxes on international trade			4,832	3,734	3,590	3,969	4,045	3,706	3,837
		Consumption tax on imports		3,039	2,355	1,845	2,037	1,860	1,711	1,254
		Import duties		548	382	412	715	967	926	568
		Single administrative fee ¹/		363	432	490	395	395	369	242
		Export duties		568	223	398	568	555	309	123
		Other		314	341	446	255	269	390	1,650
	Unified tax ²/			−-	795	3,299	3,341	3,132	3,303	3,565
		Petroleum products		−-	394	1,782	1,878	2,103	2,240	2,377
		Rice		−-	401	1,517	1,464	1,029	1,063	1,188
	Other tax revenue ³/			32	600	119	106	171	274	28
Nontax revenue				3,388	2,074	1,483	1,363	1,268	1,577	1,341
	Income from land ⁴/			160	3	248	104	115	219	14
	Proceeds from services			2,679	1,372	508	661	525	442	572
	Other nontax revenue			549	699	727	599	628	916	755
Total revenue				11,569	9,676	10,692	10,854	11,067	11,479	11,307
Memorandum item:
	Total revenue, excluding exceptional factors ⁵/			11,569	9,676	10,236	10,854	11,067	11,479	11,307
Grants				0,253	11,321	10,592	10,779	12,633	9,472	7,286
	Budgetary			2,340	4,112	1,130	2,610	2,418	793	1,380
	Project financing and technical assistance			7,913	7,209	8,873	7,104	10,215	8,679	5,906
	Other nonbudgetary assistance			−-	−-	590	1,065	−-	−-	−-
Total revenue and grants ⁶/				21,822	20,996	21,284	21,633	23,700	20,915	18,593

Sources: Ministry of Finance; Technical Committee for the Surveillance of the Staff-Monitored Program; and Fund staff estimates.

^{^1/}As of October 1, 1991, represents a single 5 percent levy on the value, c.i.f., for miscellaneous taxes.

^{^3/}In 1991, includes CF 498 million in taxes that have not been classified.

^{^4/}Including fishing rights.

^{^5/}On-lending of public enterprises debt (previous fiscal years) and release of deposits.

^{^6/}Excluding exceptional revenue in 1992.

Table 18.

Comoros: Consolidated Government Expenditure, 1990-96 ¹/

(In millions of Comorian francs)

Sources: Ministry of Finance; Technical Committee for the Surveillance of the Staff-Monitored Program; and Fund staff estimates.

^{^1/}Includes the expenditure of central government, provinces, the Retirement Fund, the Chamber of Commerce, and the Road Fund, as well as a statement of off-budget expenditure.

^{^2/}As of 1989, includes the impact of the debt cancellation by France.

^{^3/}As of 1988, consists solely of technical assistance not related to projects.

^{^4/}As of 1988, includes project-related technical assistance and project operating costs.

Table 18.

Comoros: Consolidated Government Expenditure, 1990-96 ¹/

(In millions of Comorian francs)

				1990	1991	1992	1993	1994	1995	1996
Total expenditure and net lending				22,144	22,527	23,518	19,709	29,640	27,310	23,353
Current expenditure				18,523	19,330	15,919	16,638	20,136	21,477	18,239
	Budget			13,070	14,030	12,562	13,038	14,836	15,977	13,873
		Personnel		6,820	7,202	6,525	6,075	6,871	7,728	8,285
		Goods and services		4,421	5,005	4,624	5,207	6,008	6,110	4,149
		Transfers		891	980	733	1,025	1,048	1,327	662
		Interest payments ²/		938	843	680	732	910	812	777
			External	938	843	680	732	910	812	777
			Domestic	−-	−-	−-	−-	−-	−-	−-
	Technical assistance ³/			5,453	5,300	3,358	3,600	5,300	5,500	4,366
Capital expenditure				1,560	3,197	7,685	5,342	8,019	5,545	5,115
	Budgetary			811	606	1,314	1,091	638	475	703
	Financed with external resources ⁴/			1,749	2,591	6,371	4,252	7,382	5,070	4,411
Net lending				61	−-	−86	−2,271	393	−-	−-
	Budget			61	−-	49	−2,306	440	−-	−-
	Extrabudgetary			−-	−-	−135	35	−47	−-	−-
Civil service action plan				−-	−-	−-	−-	1,091	288	−-

Sources: Ministry of Finance; Technical Committee for the Surveillance of the Staff-Monitored Program; and Fund staff estimates.

^{^1/}Includes the expenditure of central government, provinces, the Retirement Fund, the Chamber of Commerce, and the Road Fund, as well as a statement of off-budget expenditure.

^{^2/}As of 1989, includes the impact of the debt cancellation by France.

^{^3/}As of 1988, consists solely of technical assistance not related to projects.

^{^4/}As of 1988, includes project-related technical assistance and project operating costs.

Table 18.

Comoros: Consolidated Government Expenditure, 1990-96 ¹/

(In millions of Comorian francs)

				1990	1991	1992	1993	1994	1995	1996
Total expenditure and net lending				22,144	22,527	23,518	19,709	29,640	27,310	23,353
Current expenditure				18,523	19,330	15,919	16,638	20,136	21,477	18,239
	Budget			13,070	14,030	12,562	13,038	14,836	15,977	13,873
		Personnel		6,820	7,202	6,525	6,075	6,871	7,728	8,285
		Goods and services		4,421	5,005	4,624	5,207	6,008	6,110	4,149
		Transfers		891	980	733	1,025	1,048	1,327	662
		Interest payments ²/		938	843	680	732	910	812	777
			External	938	843	680	732	910	812	777
			Domestic	−-	−-	−-	−-	−-	−-	−-
	Technical assistance ³/			5,453	5,300	3,358	3,600	5,300	5,500	4,366
Capital expenditure				1,560	3,197	7,685	5,342	8,019	5,545	5,115
	Budgetary			811	606	1,314	1,091	638	475	703
	Financed with external resources ⁴/			1,749	2,591	6,371	4,252	7,382	5,070	4,411
Net lending				61	−-	−86	−2,271	393	−-	−-
	Budget			61	−-	49	−2,306	440	−-	−-
	Extrabudgetary			−-	−-	−135	35	−47	−-	−-
Civil service action plan				−-	−-	−-	−-	1,091	288	−-

Sources: Ministry of Finance; Technical Committee for the Surveillance of the Staff-Monitored Program; and Fund staff estimates.

^{^1/}Includes the expenditure of central government, provinces, the Retirement Fund, the Chamber of Commerce, and the Road Fund, as well as a statement of off-budget expenditure.

^{^2/}As of 1989, includes the impact of the debt cancellation by France.

^{^3/}As of 1988, consists solely of technical assistance not related to projects.

^{^4/}As of 1988, includes project-related technical assistance and project operating costs.

Table 19.

Comoros: Wage Bill Developments by Ministry, 1992-96

(In millions of Comorian francs)

Source: General Directorate of Budget/Civil Service, Ministry of Finance

^{^1/}Includes embassies in 1996.

Table 19.

Comoros: Wage Bill Developments by Ministry, 1992-96

(In millions of Comorian francs)

		1992	1993	1994	1995	1996
Federal Assembly		7.1	95.2	273.7	322.4	135.0
Constitutional Council		6.2	…	…	51.8	18.0
Office of the President		48.1	132.9	151.5	172.7	288.0
Defense		…	…	…	…	…
Office of the Prime Minister		12.9	210.2	263.7	247.6	239.0
Foreign Affairs ¹/		54.2	70.4	79.6	315.4	343.0
Embassies		…	…	…	…	…
National Security		75.9	71.7	75.7	79.8	86.0
Finance and Budget		432.2	395.5	441.1	525.0	471.0
Economy, Planning, and Commerce		…	57.0	70.7	81.1	0.0
Infrastructure, Urbanism, and Housing		125.3	139.0	138.8	147.2	0.0
National Education		2,179.0	2,245.8	2,659.7	3,023.8	3,316.0
Rural Development		283.0	220.0	232.1	254.5	259.0
Social Affairs, Labor, and Employment		149.0	103.1	20.6	30.9	0.0
Health		649.9	587.8	609.4	617.9	739.0
Transportation and Tourism		86.5	86.9	99.4	118.2	126.0
Information, Youth, Culture, and Sport		133.7	121.7	120.0	123.6	0.0
Islamic Affairs		9.4	3.2	115.4	118.1	0.0
Civil Service and Justice		2.8	40.1	33.4	100.4	0.0
Ngazidja province		85.8	85.8	95.2	96.0	107.0
Ndzouani province		63.7	64.1	74.7	75.8	76.0
Mohéli province		32.4	34.9	39.7	39.7	40.0
Other ministries		0.0	0.0	0.0	0.0	721.0
	Total	4,437.1	4,765.3	5,594.4	6,541.9	6,964.0

Source: General Directorate of Budget/Civil Service, Ministry of Finance

^{^1/}Includes embassies in 1996.

Table 19.

Comoros: Wage Bill Developments by Ministry, 1992-96

(In millions of Comorian francs)

		1992	1993	1994	1995	1996
Federal Assembly		7.1	95.2	273.7	322.4	135.0
Constitutional Council		6.2	…	…	51.8	18.0
Office of the President		48.1	132.9	151.5	172.7	288.0
Defense		…	…	…	…	…
Office of the Prime Minister		12.9	210.2	263.7	247.6	239.0
Foreign Affairs ¹/		54.2	70.4	79.6	315.4	343.0
Embassies		…	…	…	…	…
National Security		75.9	71.7	75.7	79.8	86.0
Finance and Budget		432.2	395.5	441.1	525.0	471.0
Economy, Planning, and Commerce		…	57.0	70.7	81.1	0.0
Infrastructure, Urbanism, and Housing		125.3	139.0	138.8	147.2	0.0
National Education		2,179.0	2,245.8	2,659.7	3,023.8	3,316.0
Rural Development		283.0	220.0	232.1	254.5	259.0
Social Affairs, Labor, and Employment		149.0	103.1	20.6	30.9	0.0
Health		649.9	587.8	609.4	617.9	739.0
Transportation and Tourism		86.5	86.9	99.4	118.2	126.0
Information, Youth, Culture, and Sport		133.7	121.7	120.0	123.6	0.0
Islamic Affairs		9.4	3.2	115.4	118.1	0.0
Civil Service and Justice		2.8	40.1	33.4	100.4	0.0
Ngazidja province		85.8	85.8	95.2	96.0	107.0
Ndzouani province		63.7	64.1	74.7	75.8	76.0
Mohéli province		32.4	34.9	39.7	39.7	40.0
Other ministries		0.0	0.0	0.0	0.0	721.0
	Total	4,437.1	4,765.3	5,594.4	6,541.9	6,964.0

Source: General Directorate of Budget/Civil Service, Ministry of Finance

^{^1/}Includes embassies in 1996.

Table 20.

Comoros: Breakdown of Staffing Levels by Ministry, 1992-96 ¹/

Source: General Directorate of Budget/ Civil Service, Ministry of Finance

^{^1/}Staff paid by the treasury; excluding embassies and defense.

Table 20.

Comoros: Breakdown of Staffing Levels by Ministry, 1992-96 ¹/

		1992	1993	1994	1995	1996
Federal Assembly		57	52	78	82	26
Constitutional Council		−-	−-	−-	8	−-
Office of the President		139	105	98	108	180
Foreign Affairs		67	69	51	76	92
National Security		144	127	110	122	129
Finance and Budget		534	418	413	439	465
Economy, Planning, and Commerce		…	81	70	76	1
Infrastructure, Urbanism, and Housing		212	203	156	151	−-
National Education		2,988	2,914	2,828	2,791	2,889
Rural Development		346	290	230	224	−-
Social Affairs, Labor, and Employment		179	105	22	25	−-
Health		1,179	1,048	620	636	723
Transportation and Tourism		142	132	125	122	131
Information, Youth, Culture, and Sport		199	180	136	110	−-
Islamic Affairs		…	…	18	168	−-
Civil Service and Justice		…	59	136	42	−-
Office of the Prime Minister		8	61	59	61	59
Ngazidja province		184	178	154	148	154
Ndzouani province		130	129	109	110	108
Mohéli province		59	49	47	45	46
Other ministries		−-	−-	−-	−-	792
	Total	6,567	6,200	5,460	5,544	5,795

Source: General Directorate of Budget/ Civil Service, Ministry of Finance

^{^1/}Staff paid by the treasury; excluding embassies and defense.

Table 20.

Comoros: Breakdown of Staffing Levels by Ministry, 1992-96 ¹/

		1992	1993	1994	1995	1996
Federal Assembly		57	52	78	82	26
Constitutional Council		−-	−-	−-	8	−-
Office of the President		139	105	98	108	180
Foreign Affairs		67	69	51	76	92
National Security		144	127	110	122	129
Finance and Budget		534	418	413	439	465
Economy, Planning, and Commerce		…	81	70	76	1
Infrastructure, Urbanism, and Housing		212	203	156	151	−-
National Education		2,988	2,914	2,828	2,791	2,889
Rural Development		346	290	230	224	−-
Social Affairs, Labor, and Employment		179	105	22	25	−-
Health		1,179	1,048	620	636	723
Transportation and Tourism		142	132	125	122	131
Information, Youth, Culture, and Sport		199	180	136	110	−-
Islamic Affairs		…	…	18	168	−-
Civil Service and Justice		…	59	136	42	−-
Office of the Prime Minister		8	61	59	61	59
Ngazidja province		184	178	154	148	154
Ndzouani province		130	129	109	110	108
Mohéli province		59	49	47	45	46
Other ministries		−-	−-	−-	−-	792
	Total	6,567	6,200	5,460	5,544	5,795

Source: General Directorate of Budget/ Civil Service, Ministry of Finance

^{^1/}Staff paid by the treasury; excluding embassies and defense.

Table 21.

Comoros: Breakdown of the Goverment Wage Bill, 1993-96 ¹/

(In Comorian francs)

Source: General Directorate of Budget/ Civil Service, Ministry of Finance

^{^1/}Excluding embassies and defense.

Table 21.

Comoros: Breakdown of the Goverment Wage Bill, 1993-96 ¹/

(In Comorian francs)

		1993	1994	1995	1996
Basic salaries		3,458	4,036	4,589	4,930
Allowances		1,040	1,260	1,585	1,635
	Function	127	163	203	176
	Housing	441	544	758	823
	Teaching (teachers)	224	239	233	242
	Indemnité de sujétion	78	108	120	115
	Indemnité de remise	49	55	68	71
	Geographic	54	53	75	88
	Other	67	97	129	120
Employer contributions		267	299	369	398
	Total	4,765	5,595	6,543	6,963

Source: General Directorate of Budget/ Civil Service, Ministry of Finance

^{^1/}Excluding embassies and defense.

Table 21.

Comoros: Breakdown of the Goverment Wage Bill, 1993-96 ¹/

(In Comorian francs)

		1993	1994	1995	1996
Basic salaries		3,458	4,036	4,589	4,930
Allowances		1,040	1,260	1,585	1,635
	Function	127	163	203	176
	Housing	441	544	758	823
	Teaching (teachers)	224	239	233	242
	Indemnité de sujétion	78	108	120	115
	Indemnité de remise	49	55	68	71
	Geographic	54	53	75	88
	Other	67	97	129	120
Employer contributions		267	299	369	398
	Total	4,765	5,595	6,543	6,963

Source: General Directorate of Budget/ Civil Service, Ministry of Finance

^{^1/}Excluding embassies and defense.

Table 22.

Comoros: Consolidated Net Statement of Public Enterprises, 1990-97

(In millions of Comorian francs)

Sources: Public enterprises listed below; and Fund staff estimates. Notes: SCH = Comorian Hydrocarbons Company; ONICOR = National Rice Imports and Marketing Office; SNPT = Post and Telecommunications Office; EEDC = Comoros Electricity and Water, SNI = National Printing Company; SOCOPOTRAM = Comorian Ports Establishment; and IBD = taxes on miscellaneous profits. Comorian Meat and Food Products (SOCOVIA) Import Company, and Air Comores have been or are being liquidated.

^{^1/}Before provision for amortization.

^{^2/}Excluding subsidies.

Table 22.

Comoros: Consolidated Net Statement of Public Enterprises, 1990-97

(In millions of Comorian francs)

		Turnover	Change in Stocks	Wages and Salaries	Purchases	Taxes	Financial Charges	Other Expenditures	Total Expenditures	Surplus or Loss ¹/
Import monopolies
SCH
	1990	5,073	121	170	1,920	410	128	2,029	4,778	295
	1991	5,325	−161	216	1,972	373	77	2,655	5,132	193
	1992	5,932	−8	229	1,931	240	90	3,391	5,873	59
	1993	6,096	−147	220	1,890	183	100	3,860	6,106	−10
	1994	6,635	17	283	2,361	206	187	3,526	6,580	55
	1995	6,893	−153	293	2,346	209	217	3,697	6,609	284
	1996
ONICOR
	1991	3,324	0	11	1,884	971	43	318	3,227	97
	1992	3,849	0	24	2,037	721	17	1,479	4,257	−430
	1993	3,537	0	23	1,579	0	29	1,743	3,374	163
	1994	4,086	0	25	2,400	165	8	1,359	4,017	69
	1995	4,048	0	33	2,720	117	5	1,282	4,217	−169
	1996
Airport Hahaya (AIMPSI)
	1992	299	−3	121	92	1	4	46	261	38
	1993	321	1	122	112	3	4	57	298	23
	1994	567	−4	141	156	3	0	75	371	196
	1995	…	…	…	…	…	…	…	…	…
	1996
Public utilities
SNPT
	1991	1,924	0	421	135	2	173	277	1,008	917
	1992	2,355	48	459	171	57	164	302	1,201	1,154
	1993	2,279	−14	451	174	179	146	460	1,396	883
	1994 ²/	2,764	…	450	151	24	30	850	1,505	1,259
	1995	2,549	…	403	259	53	100	678	1,493	1,055
	1996 (provisional)	3,200	…	460	192	438	108	723	1,922	1,278
EEDC
	1992	1,822	−24	240	903	11	67	393	1,590	232
	1993	2,366	100	403	1,645	60	68	216	…	…
	1994	2,200	78	453	1,614	128	60	114	…	…
	1995
	1996
SOCOPOTRAM
	1992	339	…	101	87	1	…	124	313	27
	1993	849	…	213	116	2	…	460	792	57
	1994	1427	…	760	72	1	…	445	1278	149
	1995	…	…	…	…	…	…	…	…	…
	1996-2nd Semester	605	…	491	60	4	…	55	610	−5
	1997- 1st Quarter	316	…	182	12	0	…	47	241	74
	1997 - 2nd Quarter (Proj.)	339	…	263	40	17	…	174	495	−156

^{^1/}Before provision for amortization.

^{^2/}Excluding subsidies.

Table 22.

Comoros: Consolidated Net Statement of Public Enterprises, 1990-97

(In millions of Comorian francs)

		Turnover	Change in Stocks	Wages and Salaries	Purchases	Taxes	Financial Charges	Other Expenditures	Total Expenditures	Surplus or Loss ¹/
Import monopolies
SCH
	1990	5,073	121	170	1,920	410	128	2,029	4,778	295
	1991	5,325	−161	216	1,972	373	77	2,655	5,132	193
	1992	5,932	−8	229	1,931	240	90	3,391	5,873	59
	1993	6,096	−147	220	1,890	183	100	3,860	6,106	−10
	1994	6,635	17	283	2,361	206	187	3,526	6,580	55
	1995	6,893	−153	293	2,346	209	217	3,697	6,609	284
	1996
ONICOR
	1991	3,324	0	11	1,884	971	43	318	3,227	97
	1992	3,849	0	24	2,037	721	17	1,479	4,257	−430
	1993	3,537	0	23	1,579	0	29	1,743	3,374	163
	1994	4,086	0	25	2,400	165	8	1,359	4,017	69
	1995	4,048	0	33	2,720	117	5	1,282	4,217	−169
	1996
Airport Hahaya (AIMPSI)
	1992	299	−3	121	92	1	4	46	261	38
	1993	321	1	122	112	3	4	57	298	23
	1994	567	−4	141	156	3	0	75	371	196
	1995	…	…	…	…	…	…	…	…	…
	1996
Public utilities
SNPT
	1991	1,924	0	421	135	2	173	277	1,008	917
	1992	2,355	48	459	171	57	164	302	1,201	1,154
	1993	2,279	−14	451	174	179	146	460	1,396	883
	1994 ²/	2,764	…	450	151	24	30	850	1,505	1,259
	1995	2,549	…	403	259	53	100	678	1,493	1,055
	1996 (provisional)	3,200	…	460	192	438	108	723	1,922	1,278
EEDC
	1992	1,822	−24	240	903	11	67	393	1,590	232
	1993	2,366	100	403	1,645	60	68	216	…	…
	1994	2,200	78	453	1,614	128	60	114	…	…
	1995
	1996
SOCOPOTRAM
	1992	339	…	101	87	1	…	124	313	27
	1993	849	…	213	116	2	…	460	792	57
	1994	1427	…	760	72	1	…	445	1278	149
	1995	…	…	…	…	…	…	…	…	…
	1996-2nd Semester	605	…	491	60	4	…	55	610	−5
	1997- 1st Quarter	316	…	182	12	0	…	47	241	74
	1997 - 2nd Quarter (Proj.)	339	…	263	40	17	…	174	495	−156

^{^1/}Before provision for amortization.

^{^2/}Excluding subsidies.

Table 23.

Comoros: Consolidated Financial Statement of Public Enterprises, 1990-96

(In millions of Comorian franca)

Sources: Public enterprises listed below; and Fund staff estimates. Notes: SCH = Comorian Hydrocarbons Company, ONICOR = National Rice Imports and Marketing Office; SNPT = Post and Telecommunications Office; EEDC - Comoros Electricity and Water, and IBD = taxes on miscellaneous profits. Comorian Meat and Food Products Import Company (SOCOVIA), and Air Comores have been or are being liquidated; no information is available for Comorian Ports Establishment (SOCOPOTRAM).

^{^1/}At year’s end

^{^2/}Net profits before IBD over social capital.

^{^3/}Net profit before IBD over turnover.

^{^4/}Not available.

Table 23.

Comoros: Consolidated Financial Statement of Public Enterprises, 1990-96

(In millions of Comorian franca)

		Share Capital	Total Long-term Debt	Turnover	Net Profit Before IBD	IBD	Net Profit After IBD	Accumulated Losses	Long-term External Debt	Interest on Gross Debt	Cross Fixe Investment	Government Arrears ¹/	Profit Rate (in percent) ²/	Profit Rate (in percent) ³/
Import monopolies
SCH
	1990	650	141	5,073	820	410	410	0	141	3	52	2,189	126.2	16.2
	1991	650	82	5,325	746	373	373	0	82	4	132		114.8	14.0
	1992	650	369	5,932	480	240	240	0	369	3	918	1,047	73.8	8.1
	1993	650	190	6,096	366	183	183	0	190	0.3	18	1,743	56.3	6.0
	1994	650	190	6,635	412	206	206	0	190	0.3	25	1,667	63.4	6.2
	1995	650	190	6,893	419	209	210	0	190	…	235	2,447	64.5	6.1
	1996
ONICOR
	1991	0	0	3,324	1,067	971	96	0	0	0	0	0	0	32.1
	1992	381	0	3,849	…	700	0	76	0	0	0	0	0	0
	1993	139	0	3,537	163	0	…	…	0	0	0	0	0	5.0
	1994	958	0	4,086	…	165	…	…	0	0	0	0	0
	1995	504	0	4,048	…	117	…	…	0	0	0	0	0	0
	1996
AEROPORT HAHAYA (ATMPSI)
	1992	4,186	270	299	−350	0	−350	1,532	268	0	0	0	−8.36	113.0
	1993	4,186	269	321	−389	0	−389	1,882	268	0	0	0	−9.29	121.2
	1994	4,186	269	567	−226	0	−226	2,272	268	0	0	0	−5.4	39.86
	1995	…	…	…	…	…	…	…	…	…	…	…	…	…
	1996
Public services
SNPT
	1991	480	0	1,924	−45	2	−46	−1,494	4,184	131	1,273	1,400	−9.3	−2.3
	1992	480	0	2,355	112	57	55	−1,439	4,001	117	174	1,759	23.4	4.8
	1993	2,731	0	2,279	287	179	108	−1,331	2,094	97	337	175	10.5	12.6
	1994	2,731	0	2,764	47	24	24	−1,307	3,208	29	1,890	277	1.7	1.7
	1995	2,750	0	2,549	132	53	79	−1,228	1,992	58	743	113	4.8	5.2
	1996
EEDC
	1992	1,661	4,220	1,822	−429	0	−429	−980	1,070	16	168	526	−25.8	−23.5
	1993	1,268	4,220	2,366	299	20	278	…	1,070	63	386	652	…	…
	1994	1,268	4,220	2,200	178	71	107	…	1,070	60	394	802	…	…
	1995	1,268	…	…	…	…	…	…	…	…	…	…	…	…
	1996
SOCOPOTRAM ⁴/

^{^1/}At year’s end

^{^2/}Net profits before IBD over social capital.

^{^3/}Net profit before IBD over turnover.

^{^4/}Not available.

Table 23.

Comoros: Consolidated Financial Statement of Public Enterprises, 1990-96

(In millions of Comorian franca)

		Share Capital	Total Long-term Debt	Turnover	Net Profit Before IBD	IBD	Net Profit After IBD	Accumulated Losses	Long-term External Debt	Interest on Gross Debt	Cross Fixe Investment	Government Arrears ¹/	Profit Rate (in percent) ²/	Profit Rate (in percent) ³/
Import monopolies
SCH
	1990	650	141	5,073	820	410	410	0	141	3	52	2,189	126.2	16.2
	1991	650	82	5,325	746	373	373	0	82	4	132		114.8	14.0
	1992	650	369	5,932	480	240	240	0	369	3	918	1,047	73.8	8.1
	1993	650	190	6,096	366	183	183	0	190	0.3	18	1,743	56.3	6.0
	1994	650	190	6,635	412	206	206	0	190	0.3	25	1,667	63.4	6.2
	1995	650	190	6,893	419	209	210	0	190	…	235	2,447	64.5	6.1
	1996
ONICOR
	1991	0	0	3,324	1,067	971	96	0	0	0	0	0	0	32.1
	1992	381	0	3,849	…	700	0	76	0	0	0	0	0	0
	1993	139	0	3,537	163	0	…	…	0	0	0	0	0	5.0
	1994	958	0	4,086	…	165	…	…	0	0	0	0	0
	1995	504	0	4,048	…	117	…	…	0	0	0	0	0	0
	1996
AEROPORT HAHAYA (ATMPSI)
	1992	4,186	270	299	−350	0	−350	1,532	268	0	0	0	−8.36	113.0
	1993	4,186	269	321	−389	0	−389	1,882	268	0	0	0	−9.29	121.2
	1994	4,186	269	567	−226	0	−226	2,272	268	0	0	0	−5.4	39.86
	1995	…	…	…	…	…	…	…	…	…	…	…	…	…
	1996
Public services
SNPT
	1991	480	0	1,924	−45	2	−46	−1,494	4,184	131	1,273	1,400	−9.3	−2.3
	1992	480	0	2,355	112	57	55	−1,439	4,001	117	174	1,759	23.4	4.8
	1993	2,731	0	2,279	287	179	108	−1,331	2,094	97	337	175	10.5	12.6
	1994	2,731	0	2,764	47	24	24	−1,307	3,208	29	1,890	277	1.7	1.7
	1995	2,750	0	2,549	132	53	79	−1,228	1,992	58	743	113	4.8	5.2
	1996
EEDC
	1992	1,661	4,220	1,822	−429	0	−429	−980	1,070	16	168	526	−25.8	−23.5
	1993	1,268	4,220	2,366	299	20	278	…	1,070	63	386	652	…	…
	1994	1,268	4,220	2,200	178	71	107	…	1,070	60	394	802	…	…
	1995	1,268	…	…	…	…	…	…	…	…	…	…	…	…
	1996
SOCOPOTRAM ⁴/

^{^1/}At year’s end

^{^2/}Net profits before IBD over social capital.

^{^3/}Net profit before IBD over turnover.

^{^4/}Not available.

Table 24.

Comoros: Monetary Survey, 1990-96

(In millions of Comorian francs; end of period)

Sources: Central Bank of the Comoros; and Fund staff estimates.

^{^1/}Includes Fonds particuliers (special funds).

^{^2/}As of 1993, excludes bankers’ acceptances.

Table 24.

Comoros: Monetary Survey, 1990-96

(In millions of Comorian francs; end of period)

					1990	1991	1992	1993	1994	1995	1996
Net foreign assets					7,200	6,943	6,878	11,254	16,095	15,402	19,034
	Central bank				7,878	6,993	6,991	10,957	15,983	14,606	18,194
		Assets			8,074	7,595	7,515	11,458	17,423	16,127	19,645
		Liabilities			−196	−602	−524	−501	−1,440	−1,521	−1,451
	Commercial bank				−678	−50	−113	297	112	796	840
		Assets			997	1,512	1,198	804	115	889	848
		Liabilities			−1,675	−1,562	−1,311	−507	−3	−93	−8
Net domestic assets					8,364	8,818	9,911	6,102	2,171	3,448	154
Domestic credit					12,136	13,522	14,403	11,466	12,139	13,817	10,212
	Net credit to government				2,863	3,766	4,316	2,566	3,464	4,295	3,422
			Bank financing		984	1,835	1,764	−86	1,286	2,183	2,050
				Credit to government	1,736	2,591	2,421	2,578	3,387	3,519	3,905
				Government deposits	−752	−756	−657	−2,664	−2,101	−1,336	−1,855
			Deposits to treasury ¹/		1,879	1,931	2,552	2,652	2,178	2,112	1,372
	Claims on public enterprises				638	363	346	663	1,818	772	107
	Credit to private sector ²/				8,635	9,393	9,741	8,237	6,857	8,750	6,683
			of which: bankers’ acceptances		1,679	1,780	1,554	784	−-	−-	−-
Other items (net)					−3,772	−4,704	−4,492	−5,364	−9,968	−10,369	−10,058
Broad money					15,564	15,761	16,789	17,356	18,266	18,850	19,188
	Money				10,990	9,932	11,069	11,575	12,356	13,408	12,961
		Currency in circulation			4,274	4,046	4,082	4,402	5,100	5,782	5,639
		Demand deposits			6,716	5,886	6,987	7,173	7,256	7,626	7,322
	Quasi-money				4,574	5,829	5,707	5,768	5,910	5,442	6,227

Sources: Central Bank of the Comoros; and Fund staff estimates.

^{^1/}Includes Fonds particuliers (special funds).

^{^2/}As of 1993, excludes bankers’ acceptances.

Table 24.

Comoros: Monetary Survey, 1990-96

(In millions of Comorian francs; end of period)

					1990	1991	1992	1993	1994	1995	1996
Net foreign assets					7,200	6,943	6,878	11,254	16,095	15,402	19,034
	Central bank				7,878	6,993	6,991	10,957	15,983	14,606	18,194
		Assets			8,074	7,595	7,515	11,458	17,423	16,127	19,645
		Liabilities			−196	−602	−524	−501	−1,440	−1,521	−1,451
	Commercial bank				−678	−50	−113	297	112	796	840
		Assets			997	1,512	1,198	804	115	889	848
		Liabilities			−1,675	−1,562	−1,311	−507	−3	−93	−8
Net domestic assets					8,364	8,818	9,911	6,102	2,171	3,448	154
Domestic credit					12,136	13,522	14,403	11,466	12,139	13,817	10,212
	Net credit to government				2,863	3,766	4,316	2,566	3,464	4,295	3,422
			Bank financing		984	1,835	1,764	−86	1,286	2,183	2,050
				Credit to government	1,736	2,591	2,421	2,578	3,387	3,519	3,905
				Government deposits	−752	−756	−657	−2,664	−2,101	−1,336	−1,855
			Deposits to treasury ¹/		1,879	1,931	2,552	2,652	2,178	2,112	1,372
	Claims on public enterprises				638	363	346	663	1,818	772	107
	Credit to private sector ²/				8,635	9,393	9,741	8,237	6,857	8,750	6,683
			of which: bankers’ acceptances		1,679	1,780	1,554	784	−-	−-	−-
Other items (net)					−3,772	−4,704	−4,492	−5,364	−9,968	−10,369	−10,058
Broad money					15,564	15,761	16,789	17,356	18,266	18,850	19,188
	Money				10,990	9,932	11,069	11,575	12,356	13,408	12,961
		Currency in circulation			4,274	4,046	4,082	4,402	5,100	5,782	5,639
		Demand deposits			6,716	5,886	6,987	7,173	7,256	7,626	7,322
	Quasi-money				4,574	5,829	5,707	5,768	5,910	5,442	6,227

Sources: Central Bank of the Comoros; and Fund staff estimates.

^{^1/}Includes Fonds particuliers (special funds).

^{^2/}As of 1993, excludes bankers’ acceptances.

Table 25.

Comoros: Summary Statement of the Central Bank, 1990-96

(In millions of Comorian francs; end of period)

Sources: Central bank of the Comoros; and Fund staff estimates.

^{^1/}STABEX = Stabilization System for Export Earnings.

Table 25.

Comoros: Summary Statement of the Central Bank, 1990-96

(In millions of Comorian francs; end of period)

				1990	1991	1992	1993	1994	1995	1996
	Foreign assets			8,074	7,595	7,515	11,458	17,423	16,127	19,645
	of which
		Operations account with French
			Treasury	7,899	7,425	7,027	10,950	16,867	15,492	18,857
		Bank notes (CFA franc area)		143	144	145	146	147	148	149
		Gold		57	55	53	66	89	82	84
		SDR holdings		29	7	8	23	19	39	21
		Correspondents		−18	−16	0	21	−14	−8	11
		Reserve position with IMF		0	0	192	192	0	−-	0
Claims on Government				1,825	2,475	2,510	2,648	3,483	3,589	3,569
	Statutory advances			1,499	1,765	1,814	1,971	1,898	1,991	1,981
	Other claims on Treasury			63	69	62	46	0	5	8
	Treasury (IMF account)			263	641	634	631	1,585	1,593	1,580
Claims on deposit money bank				0	0	0	0	0	0	0
Other assets				586	538	519	515	981	1,017	1,101
Assets=liabilities				10,485	10,608	10,544	14,621	21,887	20,733	24,315
Reserve money				6,480	5,764	6,085	8,539	9,756	8,870	11,936
	Currency in circulation			4,274	4,046	4,082	4,402	5,100	5,782	5,639
	Cash in banks			37	61	79	92	92	53	123
	Bank for Industry and Commerce deposits			1,576	1,167	1,355	3,234	3,082	1,691	4,651
	Development Bank deposits			248	423	479	656	1,307	1,223	874
	Public enterprise deposits			345	67	90	155	175	121	649
Government deposits				752	756	657	2,287	1,743	1,169	1,723
	Treasury account			630	7	62	101	30	20	63
	Government bodies			0	241	307	1,307	1,342	920	1,182
	Food aid services			25	112	193	570	264	124	186
	STABEX account ¹/			36	172	54	152	39	6	126
	Cash at Treasury			58	146	22	29	68	99	166
	Counterpart fund for Chinese aid			3	78	19	128	0	−	0
Foreign liabilities				196	602	524	160	111	192	122
	Other correspondents			194	236	155	159	110	191	119
	Transactions under way			2	6	9	1	I	1	3
	IMF credit			0	360	360	0	0	0	0
Other liabilities				3,057	3,486	3,278	3,635	10,277	10,502	10,534

Sources: Central bank of the Comoros; and Fund staff estimates.

^{^1/}STABEX = Stabilization System for Export Earnings.

Table 25.

Comoros: Summary Statement of the Central Bank, 1990-96

(In millions of Comorian francs; end of period)

				1990	1991	1992	1993	1994	1995	1996
	Foreign assets			8,074	7,595	7,515	11,458	17,423	16,127	19,645
	of which
		Operations account with French
			Treasury	7,899	7,425	7,027	10,950	16,867	15,492	18,857
		Bank notes (CFA franc area)		143	144	145	146	147	148	149
		Gold		57	55	53	66	89	82	84
		SDR holdings		29	7	8	23	19	39	21
		Correspondents		−18	−16	0	21	−14	−8	11
		Reserve position with IMF		0	0	192	192	0	−-	0
Claims on Government				1,825	2,475	2,510	2,648	3,483	3,589	3,569
	Statutory advances			1,499	1,765	1,814	1,971	1,898	1,991	1,981
	Other claims on Treasury			63	69	62	46	0	5	8
	Treasury (IMF account)			263	641	634	631	1,585	1,593	1,580
Claims on deposit money bank				0	0	0	0	0	0	0
Other assets				586	538	519	515	981	1,017	1,101
Assets=liabilities				10,485	10,608	10,544	14,621	21,887	20,733	24,315
Reserve money				6,480	5,764	6,085	8,539	9,756	8,870	11,936
	Currency in circulation			4,274	4,046	4,082	4,402	5,100	5,782	5,639
	Cash in banks			37	61	79	92	92	53	123
	Bank for Industry and Commerce deposits			1,576	1,167	1,355	3,234	3,082	1,691	4,651
	Development Bank deposits			248	423	479	656	1,307	1,223	874
	Public enterprise deposits			345	67	90	155	175	121	649
Government deposits				752	756	657	2,287	1,743	1,169	1,723
	Treasury account			630	7	62	101	30	20	63
	Government bodies			0	241	307	1,307	1,342	920	1,182
	Food aid services			25	112	193	570	264	124	186
	STABEX account ¹/			36	172	54	152	39	6	126
	Cash at Treasury			58	146	22	29	68	99	166
	Counterpart fund for Chinese aid			3	78	19	128	0	−	0
Foreign liabilities				196	602	524	160	111	192	122
	Other correspondents			194	236	155	159	110	191	119
	Transactions under way			2	6	9	1	I	1	3
	IMF credit			0	360	360	0	0	0	0
Other liabilities				3,057	3,486	3,278	3,635	10,277	10,502	10,534

Sources: Central bank of the Comoros; and Fund staff estimates.

^{^1/}STABEX = Stabilization System for Export Earnings.

Table 26.

Comoros: Summary Statement of the Bank for Industry and Commerce, 1990-96

(In millions of Comorian francs; end of period)

Source: Central Bank of the Comoros.

^{^1/}Deposits required by the Bank for Industry and Commerce for imports under letter of credit.

^{^2/}Principally the Stabilization Fund for Export Earnings.

Table 26.

Comoros: Summary Statement of the Bank for Industry and Commerce, 1990-96

(In millions of Comorian francs; end of period)

			1990	1991	1992	1993	1994	1995	1996
Reserves			1,637	1,261	1,599	2,972	3,082	1,631	4,719
	Cash		37	61	79	92	92	53	123
	Deposits at the Central bank		1,600	1,200	1,520	2,880	2,990	1,578	4,596
Foreign assets			997	1,512	1,198	804	115	889	848
Claims on government			51	244	−-	−-	−-	−-	415
Claims on private sector			8,495	9,265	9,652	8,167	6,761	8,680	6,604
Unclassified assets			3,685	7,704	2,423	2,561	2,556	1,365	467
	of which
		Bills to be collected	1,660	5,868	812	802	−-	−-	−-
Assets=liabilities			14,865	19,986	14,872	14,504	12,514	12,565	13,053
Demand deposits			4,244	3,465	3,866	3,710	3,596	4,170	4,427
Time and savings deposits			4,574	5,829	5,720	5,781	5,910	5,442	6,227
	Time deposits		2,261	1,301	2,047	1,983	1,542	550	239
	Savings deposits		2,002	2,234	2,655	3,435	4,160	4,708	5,591
	Blocked account ¹/		311	2,294	1,018	363	208	184	397
Government deposits ²/			−-	−-	−-	377	358	167	132
Foreign liabilities			1,675	1,562	1,311	507	3	93	8
Unclassified liabilities			4,372	9,130	3,975	4,129	2,647	2,693	2,259

Source: Central Bank of the Comoros.

^{^1/}Deposits required by the Bank for Industry and Commerce for imports under letter of credit.

^{^2/}Principally the Stabilization Fund for Export Earnings.

Table 26.

Comoros: Summary Statement of the Bank for Industry and Commerce, 1990-96

(In millions of Comorian francs; end of period)

			1990	1991	1992	1993	1994	1995	1996
Reserves			1,637	1,261	1,599	2,972	3,082	1,631	4,719
	Cash		37	61	79	92	92	53	123
	Deposits at the Central bank		1,600	1,200	1,520	2,880	2,990	1,578	4,596
Foreign assets			997	1,512	1,198	804	115	889	848
Claims on government			51	244	−-	−-	−-	−-	415
Claims on private sector			8,495	9,265	9,652	8,167	6,761	8,680	6,604
Unclassified assets			3,685	7,704	2,423	2,561	2,556	1,365	467
	of which
		Bills to be collected	1,660	5,868	812	802	−-	−-	−-
Assets=liabilities			14,865	19,986	14,872	14,504	12,514	12,565	13,053
Demand deposits			4,244	3,465	3,866	3,710	3,596	4,170	4,427
Time and savings deposits			4,574	5,829	5,720	5,781	5,910	5,442	6,227
	Time deposits		2,261	1,301	2,047	1,983	1,542	550	239
	Savings deposits		2,002	2,234	2,655	3,435	4,160	4,708	5,591
	Blocked account ¹/		311	2,294	1,018	363	208	184	397
Government deposits ²/			−-	−-	−-	377	358	167	132
Foreign liabilities			1,675	1,562	1,311	507	3	93	8
Unclassified liabilities			4,372	9,130	3,975	4,129	2,647	2,693	2,259

Source: Central Bank of the Comoros.

^{^1/}Deposits required by the Bank for Industry and Commerce for imports under letter of credit.

^{^2/}Principally the Stabilization Fund for Export Earnings.

Table 27.

Comoros: Summary Statement of Other Banking Institutions, 1990-96 ¹/

(In millions of Comorian francs; end of period)

Source: Central Bank of the Comoros.

^{^1/}Banque de Développement des Comores (Development Bank) and Caisse Nationale d’Epargne (National Savings Bank).

^{^2/}CREDICOM = Lending Company for the Development of the Comoros

^{^3/}Includes deposits of donor organizations in the agricultural sector.

Table 27.

Comoros: Summary Statement of Other Banking Institutions, 1990-96 ¹/

(In millions of Comorian francs; end of period)

			1990	1991	1992	1993	1994	1995	1996
Reserves			267	443	511	696	1,350	1,250	857
	Central Bank		256	423	479	656	1,313	1,228	849
	Bank for Industry and Commerce		10	17	31	39	37	21	7
	Cash balances		1	3	1	1	−-	1	1
Foreign assets			2	−-	2	2	4	2	5
Claims on government			166	246	−-	526	11	−-	−-
	Deposits at the treasury		166	246	−-	526	11	−-	−-
Claims on public enterprises			544	579	537	522	427	302	722
Claims on the private sector			1,378	1,421	1,454	1,372	1,566	1,898	2,313
	Long-term		176	308	438	501	543	559	817
	Medium-term		924	841	747	655	743	954	990
	Trust accounts
		CREDICOM ²/	242	238	234	233	230	297	317
		Fisheries	71	70	−-	−-	−-	−-	−-
	Other		−35	−36	35	−17	50	88	189
Fixed assets			95	121	461	85	87	91	101
Unclassified assets			−2	6	−5	−13	53	78	88
Assets=liabilities			2,450	2,816	2,960	3,190	3,498	3,621	4,086
Special deposits ³/			1	2	3	4	5	6	7
Medium- and long-term borrowing			908	1,178	1,284	1,550	1,838	1,964	1,591
Trust accounts			322	309	235	233	230	296	317
Capital accounts			804	820	846	864	918	1,008	1,347
	Paid-in capital		300	300	300	300	300	300	300
	Reserves		504	520	546	564	618	708	1,047
Unclassified liabilities			415	507	592	539	507	347	824

Source: Central Bank of the Comoros.

^{^1/}Banque de Développement des Comores (Development Bank) and Caisse Nationale d’Epargne (National Savings Bank).

^{^2/}CREDICOM = Lending Company for the Development of the Comoros

^{^3/}Includes deposits of donor organizations in the agricultural sector.

Table 27.

Comoros: Summary Statement of Other Banking Institutions, 1990-96 ¹/

(In millions of Comorian francs; end of period)

			1990	1991	1992	1993	1994	1995	1996
Reserves			267	443	511	696	1,350	1,250	857
	Central Bank		256	423	479	656	1,313	1,228	849
	Bank for Industry and Commerce		10	17	31	39	37	21	7
	Cash balances		1	3	1	1	−-	1	1
Foreign assets			2	−-	2	2	4	2	5
Claims on government			166	246	−-	526	11	−-	−-
	Deposits at the treasury		166	246	−-	526	11	−-	−-
Claims on public enterprises			544	579	537	522	427	302	722
Claims on the private sector			1,378	1,421	1,454	1,372	1,566	1,898	2,313
	Long-term		176	308	438	501	543	559	817
	Medium-term		924	841	747	655	743	954	990
	Trust accounts
		CREDICOM ²/	242	238	234	233	230	297	317
		Fisheries	71	70	−-	−-	−-	−-	−-
	Other		−35	−36	35	−17	50	88	189
Fixed assets			95	121	461	85	87	91	101
Unclassified assets			−2	6	−5	−13	53	78	88
Assets=liabilities			2,450	2,816	2,960	3,190	3,498	3,621	4,086
Special deposits ³/			1	2	3	4	5	6	7
Medium- and long-term borrowing			908	1,178	1,284	1,550	1,838	1,964	1,591
Trust accounts			322	309	235	233	230	296	317
Capital accounts			804	820	846	864	918	1,008	1,347
	Paid-in capital		300	300	300	300	300	300	300
	Reserves		504	520	546	564	618	708	1,047
Unclassified liabilities			415	507	592	539	507	347	824

Source: Central Bank of the Comoros.

^{^1/}Banque de Développement des Comores (Development Bank) and Caisse Nationale d’Epargne (National Savings Bank).

^{^2/}CREDICOM = Lending Company for the Development of the Comoros

^{^3/}Includes deposits of donor organizations in the agricultural sector.

Table 28.

Comoros: Development Bank of the Comoros: Sectoral Distribution of Credit, 1990-96 ¹/

(In thousands of Comorian francs)

Source: Development Bank of the Comoros.

^{^1/}Liabilities during the period.

Table 28.

Comoros: Development Bank of the Comoros: Sectoral Distribution of Credit, 1990-96 ¹/

(In thousands of Comorian francs)

		1990	1991	1992	1993	1994	1995	1996
Productive sectors		199.6	428.7	320.6	256.4	473.8	509.4	475.7
	Industry and transportation	125.5	298.9	143.9	203.0	325.7	339.7	304.5
	Hotels	1.5	−-	90.0	−-	59.0	52.7	−-
	Arts and crafts	28.5	64.4	33.5	6.5	19.6	48.6	19.5
	Agriculture	33.7	59.0	54.1	45.3	16.9	24.0	55.0
	Fishing	10.4	6.4	−0.9	−-	2.6	11.0	81.2
Miscellaneous		−-	−-	−-	1.6	50.0	33.4	15.5
Housing		132.0	109.6	97.3	−-	109.4	195.0	289.8
	Total	331.6	538.3	417.9	256.4	583.2	704.4	765.5

Source: Development Bank of the Comoros.

^{^1/}Liabilities during the period.

Table 28.

Comoros: Development Bank of the Comoros: Sectoral Distribution of Credit, 1990-96 ¹/

(In thousands of Comorian francs)

		1990	1991	1992	1993	1994	1995	1996
Productive sectors		199.6	428.7	320.6	256.4	473.8	509.4	475.7
	Industry and transportation	125.5	298.9	143.9	203.0	325.7	339.7	304.5
	Hotels	1.5	−-	90.0	−-	59.0	52.7	−-
	Arts and crafts	28.5	64.4	33.5	6.5	19.6	48.6	19.5
	Agriculture	33.7	59.0	54.1	45.3	16.9	24.0	55.0
	Fishing	10.4	6.4	−0.9	−-	2.6	11.0	81.2
Miscellaneous		−-	−-	−-	1.6	50.0	33.4	15.5
Housing		132.0	109.6	97.3	−-	109.4	195.0	289.8
	Total	331.6	538.3	417.9	256.4	583.2	704.4	765.5

Source: Development Bank of the Comoros.

^{^1/}Liabilities during the period.

Table 29.

Comoros: Structure of Interest Rates, 1990-96

(In percent)

Source: Central Bank of the Comoros.

^{^1/}Privileged rates eliminated as of February 3, 1994.

^{^2/}Credit for crop purchases (vanilla, cloves, ylang-ylang, and copra) for exports, and for imports of rice by the National Rice Imports and Marketing Office (ONICOR).

^{^3/}Credit for productive sectors and for mortgages on primary residences of Comorian nationals.

^{^4/}One month or longer.

Table 29.

Comoros: Structure of Interest Rates, 1990-96

(In percent)

					1990	1991	1992	1993	1994	1995	1996
Central bank discount rates
Special rates (TEP) ¹/
	Short term ²/				6.5	6.5	6.5	6.5	0.0	0.0	0.0
	Medium term ³/				6.0	6.0	6.0	6.0	0.0	0.0	0.0
Normal rate (TEN)					8.5	8.5	8.5	8.5	8.5	8.5	8.5
Commercial and development banks
	Lending rates
		Discount rates			10.5-14.5	10.5-14.5	10.5-14.5	10.5-14.5	14.0-15.5	14.0-15.5	14.0-15.5
		Overdrafts
			Commercial		13.5-15.5	13.5-15.5	13.5-15.5	13.5-15.5	14.5-15.9	14.5-15.9	14.5-15.9
			Noncommercial		19.0	19.0	19.0	19.0	19.5	19.5	19.5
		Development bank’s medium- and long term rates
			Industry		9.0-12.0	9.0-12.0	9.0-12.0	9.0-12.0	9.0-11.0	9.0-11.0	9.0-11.0
			Transportation and tourism		12.0	11.0-15.0	11.0-15.0	9.0-11.0	9.0-11.0	9.0-11.0	9.0-11.0
			Agriculture and fishing		9.0	9.0-12.0	9.0	9.0	9.0-11.0	9.0-11.0	9.0-11.0
			Housing
				Primary residence	13.0-14.0	12.0-15.0	…	…	…	…	…
				Other construction	9.0-11.0	8.0-11.0	8.0-11.0	8.0-11.0	13.0	13.0	13.0
			Arts and crafts		9.0-11.0	8.0-11.0	9.0	9.0	9.0-11.0	9.0-11.0	9.0-11.0
Depositor rates
	Demand deposits				0.0	0.0	0.0	0.0	0.0	0.0	0.0
	Time deposits ⁴/				6.0	7.0	7.0	7.0	5.0	5.0	5.0
	Savings deposits				6.5	6.5	6.5-7.0	6.5-7.0	5.0-5.75	5.0-5.7	5.0-5.7

Source: Central Bank of the Comoros.

^{^1/}Privileged rates eliminated as of February 3, 1994.

^{^2/}Credit for crop purchases (vanilla, cloves, ylang-ylang, and copra) for exports, and for imports of rice by the National Rice Imports and Marketing Office (ONICOR).

^{^3/}Credit for productive sectors and for mortgages on primary residences of Comorian nationals.

^{^4/}One month or longer.

Table 29.

Comoros: Structure of Interest Rates, 1990-96

(In percent)

					1990	1991	1992	1993	1994	1995	1996
Central bank discount rates
Special rates (TEP) ¹/
	Short term ²/				6.5	6.5	6.5	6.5	0.0	0.0	0.0
	Medium term ³/				6.0	6.0	6.0	6.0	0.0	0.0	0.0
Normal rate (TEN)					8.5	8.5	8.5	8.5	8.5	8.5	8.5
Commercial and development banks
	Lending rates
		Discount rates			10.5-14.5	10.5-14.5	10.5-14.5	10.5-14.5	14.0-15.5	14.0-15.5	14.0-15.5
		Overdrafts
			Commercial		13.5-15.5	13.5-15.5	13.5-15.5	13.5-15.5	14.5-15.9	14.5-15.9	14.5-15.9
			Noncommercial		19.0	19.0	19.0	19.0	19.5	19.5	19.5
		Development bank’s medium- and long term rates
			Industry		9.0-12.0	9.0-12.0	9.0-12.0	9.0-12.0	9.0-11.0	9.0-11.0	9.0-11.0
			Transportation and tourism		12.0	11.0-15.0	11.0-15.0	9.0-11.0	9.0-11.0	9.0-11.0	9.0-11.0
			Agriculture and fishing		9.0	9.0-12.0	9.0	9.0	9.0-11.0	9.0-11.0	9.0-11.0
			Housing
				Primary residence	13.0-14.0	12.0-15.0	…	…	…	…	…
				Other construction	9.0-11.0	8.0-11.0	8.0-11.0	8.0-11.0	13.0	13.0	13.0
			Arts and crafts		9.0-11.0	8.0-11.0	9.0	9.0	9.0-11.0	9.0-11.0	9.0-11.0
Depositor rates
	Demand deposits				0.0	0.0	0.0	0.0	0.0	0.0	0.0
	Time deposits ⁴/				6.0	7.0	7.0	7.0	5.0	5.0	5.0
	Savings deposits				6.5	6.5	6.5-7.0	6.5-7.0	5.0-5.75	5.0-5.7	5.0-5.7

Source: Central Bank of the Comoros.

^{^1/}Privileged rates eliminated as of February 3, 1994.

^{^2/}Credit for crop purchases (vanilla, cloves, ylang-ylang, and copra) for exports, and for imports of rice by the National Rice Imports and Marketing Office (ONICOR).

^{^3/}Credit for productive sectors and for mortgages on primary residences of Comorian nationals.

^{^4/}One month or longer.

Table 30.

Comoros: Balance of Payments, 1990-96

(In millions of US. dollars)

Sources: Central Bank of the Comoros; Ministry of Finance; and Fund staff estimates.

^{^1/}Postal debt (amounting to FF 36.6 million at end-April 1997) is excluded.

Table 30.

Comoros: Balance of Payments, 1990-96

(In millions of US. dollars)

			1990	1991	1992	1993	1994	1995	1996
									Est.
Trade balance			−27.6	−24.8	−36.8	−28.0	−34.0	−42.2	−42.8
	Exports, f.o.b.		17.6	24.4	21.4	21.6	10.8	11.3	6.3
		Vanilla	9.4	15.9	15.6	16.9	6.6	6.2	2.7
		Cloves	1.3	3.9	0.4	0.9	1.3	0.4	0.5
		Ylang-ylang	5.4	3.5	4.3	2.8	2.2	2.3	1.7
		Other	1.5	1.1	1.2	0.9	0.7	2.5	1.4
	Imports, f.o.b.		−45.2	−49.2	−58.2	−49.5	−44.8	−53.5	−49.1
Services balance (net)			−30.3	−20.6	−23.0	−17.1	−15.6	−14.3	−10.1
	Freight and insurance		−11.9	−13.4	−15.8	−13.7	−12.1	−14.4	−13.1
	Other transportation		−3.4	−1.9	−4.7	−3.1	−3.7	−5.0	−5.3
	Travel		−4.2	1.9	4.1	10.0	10.4	14.3	17.7
	Investment income		2.7	2.5	6.1	4.3	2.6	3.2	2.4
	Interest payments		−3.4	−3.0	−2.6	−2.6	−2.2	−2.2	−2.0
	Other services		−10.2	−6.7	−10.2	−12.1	−10.7	−10.3	−9.8
Private transfers (net)			5.5	3.7	5.0	10.7	7.1	8.7	13.3
Current account (excluding official transfers)			−52.4	−41.7	−54.9	−34.4	−42.5	−47.8	−39.5
Official transfers			37.7	40.3	40.1	40.3	31.0	27.2	20.6
Current account (excluding official transfers)			−14.8	−1.4	−14.7	5.9	−11.5	−20.6	−18.9
Direct investment			−0.7	2.5	−1.4	0.2	0.4	0.9	0.9
Medium- and long-term borrowing			0.8	−3.1	2.8	−1.7	−10.6	1.2	−7.3
	Gross borrowing		6.5	3.2	10.1	5.8	8.6	10.6	8.7
	Amortization		−5.6	−6.3	−7.4	−7.5	−19.1	−9.5	−16.0
Trade-related credits			1.8	0.0	3.0	−1.9	4.5	1.3	0.2
Commercial banks			0.8	−2.2	0.2	−1.4	0.4	−1.8	−0.1
	Foreign assets		0.5	−1.8	1.2	1.4	1.7	−2.1	0.1
	Foreign liabilities		0.3	−0.4	−0.9	−2.8	−1.2	0.2	−0.2
Short-term capital (including errors & omissions)			0.6	−7.1	17.8	3.8	−4.9	4.5	17.9
Capital account			3.5	−9.8	22.3	−1.1	−10.2	6.1	11.6
Overall balance			−11.3	−11.3	7.6	4.9	−21.7	−14.5	−7.3
Financing			11.3	11.3	−7.6	−4.9	21.7	14.5	7.3
	Central bank		3.4	3.1	0.0	−14.0	−12.1	3.7	−9.4
		of which: use of Fund credit	0.0	1.2	0.0	0.0	1.9	0.0	0.0
	Valuation change		0.0	0.0	0.0	0.0	13.6	0.0	0.0
	Change in arrears		8.0	−27.4	−7.7	−7.5	0.8	8.7	7.7
	Exceptional financing		0.0	35.5	0.0	16.7	19.4	2.2	8.9
	Financing gap		0.0	0.0	0.0	0.0	0.0	0.0	0.0
Memorandum items:
	Arrears (end of period) ¹/		72.4	41.8	33.8	26.6	27.5	36.3	43.2
	External debt (end of period, including arrears & IMF) ¹/		197.0	181.5	191.2	185.5	194.5	206.5	206.2
	Current account as percent of GDP
	Excluding official transfers		−21.0	−16.9	−20.6	−13.0	−22.9	−22.3	−18.5
	Including official transfers		−5.9	−0.6	−5.5	2.3	−6.2	−9.6	−8.9
	Debt-service ratio (in percent of exports of goods and nonfactor services)		25.5	18.8	20.7	19.2	56.5	25.4	42.7
	Debt service ratio (in percent of exports of goods)		51.6	38.1	46.3	46.9	197.7	102.8	283.9
	External debt (including arrears & IMF, in percent of GDP)		74.2	67.5	74.7	73.3	100.8	94.4	98.1
	Exchange rate CF/USS (period average)		272.3	282.1	264.7	283.2	416.4	374.3	383.7
	Exchange rate CF/SDR (period average)		369.5	386.0	372.7	395.4	596.3	567.9	557.1
	Gross foreign assets of Central bank		31.5	29.3	27.3	38.9	43.5	43.9	50.5
	In weeks of imports of goods and nonfactor services		16.6	14.8	13.3	21.2	24.8	21.7	27.9

Sources: Central Bank of the Comoros; Ministry of Finance; and Fund staff estimates.

^{^1/}Postal debt (amounting to FF 36.6 million at end-April 1997) is excluded.

Table 30.

Comoros: Balance of Payments, 1990-96

(In millions of US. dollars)

			1990	1991	1992	1993	1994	1995	1996
									Est.
Trade balance			−27.6	−24.8	−36.8	−28.0	−34.0	−42.2	−42.8
	Exports, f.o.b.		17.6	24.4	21.4	21.6	10.8	11.3	6.3
		Vanilla	9.4	15.9	15.6	16.9	6.6	6.2	2.7
		Cloves	1.3	3.9	0.4	0.9	1.3	0.4	0.5
		Ylang-ylang	5.4	3.5	4.3	2.8	2.2	2.3	1.7
		Other	1.5	1.1	1.2	0.9	0.7	2.5	1.4
	Imports, f.o.b.		−45.2	−49.2	−58.2	−49.5	−44.8	−53.5	−49.1
Services balance (net)			−30.3	−20.6	−23.0	−17.1	−15.6	−14.3	−10.1
	Freight and insurance		−11.9	−13.4	−15.8	−13.7	−12.1	−14.4	−13.1
	Other transportation		−3.4	−1.9	−4.7	−3.1	−3.7	−5.0	−5.3
	Travel		−4.2	1.9	4.1	10.0	10.4	14.3	17.7
	Investment income		2.7	2.5	6.1	4.3	2.6	3.2	2.4
	Interest payments		−3.4	−3.0	−2.6	−2.6	−2.2	−2.2	−2.0
	Other services		−10.2	−6.7	−10.2	−12.1	−10.7	−10.3	−9.8
Private transfers (net)			5.5	3.7	5.0	10.7	7.1	8.7	13.3
Current account (excluding official transfers)			−52.4	−41.7	−54.9	−34.4	−42.5	−47.8	−39.5
Official transfers			37.7	40.3	40.1	40.3	31.0	27.2	20.6
Current account (excluding official transfers)			−14.8	−1.4	−14.7	5.9	−11.5	−20.6	−18.9
Direct investment			−0.7	2.5	−1.4	0.2	0.4	0.9	0.9
Medium- and long-term borrowing			0.8	−3.1	2.8	−1.7	−10.6	1.2	−7.3
	Gross borrowing		6.5	3.2	10.1	5.8	8.6	10.6	8.7
	Amortization		−5.6	−6.3	−7.4	−7.5	−19.1	−9.5	−16.0
Trade-related credits			1.8	0.0	3.0	−1.9	4.5	1.3	0.2
Commercial banks			0.8	−2.2	0.2	−1.4	0.4	−1.8	−0.1
	Foreign assets		0.5	−1.8	1.2	1.4	1.7	−2.1	0.1
	Foreign liabilities		0.3	−0.4	−0.9	−2.8	−1.2	0.2	−0.2
Short-term capital (including errors & omissions)			0.6	−7.1	17.8	3.8	−4.9	4.5	17.9
Capital account			3.5	−9.8	22.3	−1.1	−10.2	6.1	11.6
Overall balance			−11.3	−11.3	7.6	4.9	−21.7	−14.5	−7.3
Financing			11.3	11.3	−7.6	−4.9	21.7	14.5	7.3
	Central bank		3.4	3.1	0.0	−14.0	−12.1	3.7	−9.4
		of which: use of Fund credit	0.0	1.2	0.0	0.0	1.9	0.0	0.0
	Valuation change		0.0	0.0	0.0	0.0	13.6	0.0	0.0
	Change in arrears		8.0	−27.4	−7.7	−7.5	0.8	8.7	7.7
	Exceptional financing		0.0	35.5	0.0	16.7	19.4	2.2	8.9
	Financing gap		0.0	0.0	0.0	0.0	0.0	0.0	0.0
Memorandum items:
	Arrears (end of period) ¹/		72.4	41.8	33.8	26.6	27.5	36.3	43.2
	External debt (end of period, including arrears & IMF) ¹/		197.0	181.5	191.2	185.5	194.5	206.5	206.2
	Current account as percent of GDP
	Excluding official transfers		−21.0	−16.9	−20.6	−13.0	−22.9	−22.3	−18.5
	Including official transfers		−5.9	−0.6	−5.5	2.3	−6.2	−9.6	−8.9
	Debt-service ratio (in percent of exports of goods and nonfactor services)		25.5	18.8	20.7	19.2	56.5	25.4	42.7
	Debt service ratio (in percent of exports of goods)		51.6	38.1	46.3	46.9	197.7	102.8	283.9
	External debt (including arrears & IMF, in percent of GDP)		74.2	67.5	74.7	73.3	100.8	94.4	98.1
	Exchange rate CF/USS (period average)		272.3	282.1	264.7	283.2	416.4	374.3	383.7
	Exchange rate CF/SDR (period average)		369.5	386.0	372.7	395.4	596.3	567.9	557.1
	Gross foreign assets of Central bank		31.5	29.3	27.3	38.9	43.5	43.9	50.5
	In weeks of imports of goods and nonfactor services		16.6	14.8	13.3	21.2	24.8	21.7	27.9

Sources: Central Bank of the Comoros; Ministry of Finance; and Fund staff estimates.

^{^1/}Postal debt (amounting to FF 36.6 million at end-April 1997) is excluded.

Table 31.

Comoros: Balance of Payments, 1990-96

(In millions of Comorian francs)

Sources: Central Bank of the Comoros; Ministry of Finance; and Fund staff estimates.

^{^1/}Postal debt (amounting to FF 36.6 million at end-April 1997) is excluded.

Table 31.

Comoros: Balance of Payments, 1990-96

(In millions of Comorian francs)

			1990	1991	1992	1993	1994	1995	1996
									Est.
Trade balance			−7,518	−7,001	−9,741	−7,916	−14,154	−15,790	−16,404
	Exports, f.o.b.		4,796	6,871	5,672	6,111	4,491	4,236	2,436
		Vanilla	2,554	4,482	4,117	4,796	2,767	2,320	1,035
		Cloves	363	1,092	108	268	522	134	210
		Ylang-ylang	1,473	992	1,140	806	930	855	645
		Other	407	305	308	241	272	927	546
	Imports, f.o.b.		−12,314	−13,872	−15,414	−14,027	−18,645	−20,026	−18,840
Services balance (net)			−8,259	−5,814	−6,092	−4,840	−6,493	−5,361	−3,861
	Freight and insurance		−3,240	−3,784	−4,172	−3,868	−5,044	−5,385	−5,008
	Other transportation		−916	−530	−1,238	−883	−1,546	−1,855	−2,027
	Travel		−1,130	545	1,077	2,840	4,344	5,363	6,806
	Investment income		746	699	1,623	1,217	1,098	1,193	902
	Interest payments		−938	−843	−680	−732	−910	−812	−777
	Other services		−2,781	−1,900	−2,701	−3,414	−4,436	−3,865	−3,756
Private transfers (net)			1,498	1,052	1,314	3,021	2,961	3,260	5,109
Current account (excluding official transfers)			−14,279	−11,763	−14,519	−9,735	−17,686	−17,891	−15,157
Official transfers			10,253	11,356	10,617	11,419	12,902	10,183	7,898
Current account (excluding official transfers)			−4,026	−408	−3,902	1,684	−4,784	−7,708	−7,259
Direct investment			−193	707	−383	54	167	333	360
Medium- and long-term borrowing			231	−862	739	−492	−4,406	439	−2,797
	Gross borrowing		1,769	909	2,685	1,640	3,564	3,983	3,341
	Amortization		−1,538	−1,772	−1,946	−2,132	−7,970	−3,544	−6,138
Trade-related credits			502	7	782	−532	1,853	494	59
Commercial banks			228	−628	63	−410	185	−684	−44
	Foreign assets		133	−515	314	394	689	−774	41
	Foreign liabilities		95	−113	−251	−804	−504	90	−85
Short-term capital (including errors & omissions)			172	−2,000	4,713	1,078	−2,051	1,703	6,877
Capital account			940	−2,777	5,914	−302	−4,251	2,285	4,454
Overall balance			−3,086	−3,184	2,012	1,382	−9,036	−5,422	−2,804
Financing			3,086	3,184	−2,012	−1,382	9,036	5,422	2,804
	Central bank		918	885	2	−3,966	−5,026	1,377	−3,588
		of which: use of Fund credit	0	347	0	0	805	0	0
	Valuation change		0	0	0	0	5,649	0	0
	Change in arrears		2,168	−7,726	−2,026	−2,136	322	3,239	2,958
	Exceptional financing		0	10,025	12	4,720	8,090	807	3,434
	Financing gap		0	0	0	0	0	0	0
Memorandum items:
	Arrears (end of period) ¹/		18,559	10,833	9,301	7,845	11,039	13,352	16,806
	External debt (end of period, including arrears & IMF) ¹/		50,528	47,004	52,644	54,674	77,980	75,880	80,253
	Current account as percent of GDP
	Excluding official transfers		−21.0	−16.9	−20.6	−13.0	−22.9	−22.3	−18.5
	Including official transfers		−5.9	−0.6	−5.5	2.3	−6.2	−9.6	−8.9
	Debt-service ratio (in percent of exports of goods and nonfactor services)		25.5	18.8	20.7	19.2	56.5	25.4	42.7
	External debt (including arrears & IMF, in percent of GDP)		74.2	67.5	74.7	73.3	100.8	94.4	98.1
	Exchange rate CF/USS (period average)		272.26	282.11	264.69	283.16	416.40	374.33	383.70
	Exchange rate CF/SDR (period average)		369.46	385.96	372.68	395.38	596.28	567.85	557.13
	Gross foreign assets of Central bank		8,074	7,595	7,515	11,458	17,423	16,127	19,645
	In weeks of imports of goods and nonfactor services		17	15	13	21	25	22	28

Sources: Central Bank of the Comoros; Ministry of Finance; and Fund staff estimates.

^{^1/}Postal debt (amounting to FF 36.6 million at end-April 1997) is excluded.

Table 31.

Comoros: Balance of Payments, 1990-96

(In millions of Comorian francs)

			1990	1991	1992	1993	1994	1995	1996
									Est.
Trade balance			−7,518	−7,001	−9,741	−7,916	−14,154	−15,790	−16,404
	Exports, f.o.b.		4,796	6,871	5,672	6,111	4,491	4,236	2,436
		Vanilla	2,554	4,482	4,117	4,796	2,767	2,320	1,035
		Cloves	363	1,092	108	268	522	134	210
		Ylang-ylang	1,473	992	1,140	806	930	855	645
		Other	407	305	308	241	272	927	546
	Imports, f.o.b.		−12,314	−13,872	−15,414	−14,027	−18,645	−20,026	−18,840
Services balance (net)			−8,259	−5,814	−6,092	−4,840	−6,493	−5,361	−3,861
	Freight and insurance		−3,240	−3,784	−4,172	−3,868	−5,044	−5,385	−5,008
	Other transportation		−916	−530	−1,238	−883	−1,546	−1,855	−2,027
	Travel		−1,130	545	1,077	2,840	4,344	5,363	6,806
	Investment income		746	699	1,623	1,217	1,098	1,193	902
	Interest payments		−938	−843	−680	−732	−910	−812	−777
	Other services		−2,781	−1,900	−2,701	−3,414	−4,436	−3,865	−3,756
Private transfers (net)			1,498	1,052	1,314	3,021	2,961	3,260	5,109
Current account (excluding official transfers)			−14,279	−11,763	−14,519	−9,735	−17,686	−17,891	−15,157
Official transfers			10,253	11,356	10,617	11,419	12,902	10,183	7,898
Current account (excluding official transfers)			−4,026	−408	−3,902	1,684	−4,784	−7,708	−7,259
Direct investment			−193	707	−383	54	167	333	360
Medium- and long-term borrowing			231	−862	739	−492	−4,406	439	−2,797
	Gross borrowing		1,769	909	2,685	1,640	3,564	3,983	3,341
	Amortization		−1,538	−1,772	−1,946	−2,132	−7,970	−3,544	−6,138
Trade-related credits			502	7	782	−532	1,853	494	59
Commercial banks			228	−628	63	−410	185	−684	−44
	Foreign assets		133	−515	314	394	689	−774	41
	Foreign liabilities		95	−113	−251	−804	−504	90	−85
Short-term capital (including errors & omissions)			172	−2,000	4,713	1,078	−2,051	1,703	6,877
Capital account			940	−2,777	5,914	−302	−4,251	2,285	4,454
Overall balance			−3,086	−3,184	2,012	1,382	−9,036	−5,422	−2,804
Financing			3,086	3,184	−2,012	−1,382	9,036	5,422	2,804
	Central bank		918	885	2	−3,966	−5,026	1,377	−3,588
		of which: use of Fund credit	0	347	0	0	805	0	0
	Valuation change		0	0	0	0	5,649	0	0
	Change in arrears		2,168	−7,726	−2,026	−2,136	322	3,239	2,958
	Exceptional financing		0	10,025	12	4,720	8,090	807	3,434
	Financing gap		0	0	0	0	0	0	0
Memorandum items:
	Arrears (end of period) ¹/		18,559	10,833	9,301	7,845	11,039	13,352	16,806
	External debt (end of period, including arrears & IMF) ¹/		50,528	47,004	52,644	54,674	77,980	75,880	80,253
	Current account as percent of GDP
	Excluding official transfers		−21.0	−16.9	−20.6	−13.0	−22.9	−22.3	−18.5
	Including official transfers		−5.9	−0.6	−5.5	2.3	−6.2	−9.6	−8.9
	Debt-service ratio (in percent of exports of goods and nonfactor services)		25.5	18.8	20.7	19.2	56.5	25.4	42.7
	External debt (including arrears & IMF, in percent of GDP)		74.2	67.5	74.7	73.3	100.8	94.4	98.1
	Exchange rate CF/USS (period average)		272.26	282.11	264.69	283.16	416.40	374.33	383.70
	Exchange rate CF/SDR (period average)		369.46	385.96	372.68	395.38	596.28	567.85	557.13
	Gross foreign assets of Central bank		8,074	7,595	7,515	11,458	17,423	16,127	19,645
	In weeks of imports of goods and nonfactor services		17	15	13	21	25	22	28

Sources: Central Bank of the Comoros; Ministry of Finance; and Fund staff estimates.

^{^1/}Postal debt (amounting to FF 36.6 million at end-April 1997) is excluded.

Table 32.

Comoros: Volume and Value of Principal Exports, f.o.b., 1990-96

(Value in millions of Comorian francs; volume in metric tons; unit value in Comorian francs per kilogram)

Source: General Directorate of Customs.

^{^1/}Index 1990=100; calculated by the Fund staff.

Table 32.

Comoros: Volume and Value of Principal Exports, f.o.b., 1990-96

(Value in millions of Comorian francs; volume in metric tons; unit value in Comorian francs per kilogram)

		1990	1991	1992	1993	1994	1995	1996
Vanilla
	Value	2,554	4,482	4,117	4,796	2,767	2,320	1,035
	Volume	127	238	236	288	131	160	91
	Unit value	20,045	18,849	17,483	16,667	21,164	14,542	11,318
Clove buds
	Value	363	1,092	108	268	522	134	210
	Volume	681	2,750	474	1,566	2,755	483	822
	Unit value	533	397	227	171	190	277	255
Ylang-ylang
	Value	1,473	992	1,140	806	930	855	645
	Volume	70	43	45	38	45	43	36
	Unit value	21,070	23,070	25,327	21,044	20,687	19,704	17,684
Other products
	Value	407	305	308	241	272	927	546
	Total value	4,796	6,871	5,672	6,111	4,491	4,236	2,436
Memorandum item:
	Export price index ¹/	100.0	93.5	93.7	83.9	97.3	90.3	81.5

Source: General Directorate of Customs.

^{^1/}Index 1990=100; calculated by the Fund staff.

Table 32.

Comoros: Volume and Value of Principal Exports, f.o.b., 1990-96

(Value in millions of Comorian francs; volume in metric tons; unit value in Comorian francs per kilogram)

		1990	1991	1992	1993	1994	1995	1996
Vanilla
	Value	2,554	4,482	4,117	4,796	2,767	2,320	1,035
	Volume	127	238	236	288	131	160	91
	Unit value	20,045	18,849	17,483	16,667	21,164	14,542	11,318
Clove buds
	Value	363	1,092	108	268	522	134	210
	Volume	681	2,750	474	1,566	2,755	483	822
	Unit value	533	397	227	171	190	277	255
Ylang-ylang
	Value	1,473	992	1,140	806	930	855	645
	Volume	70	43	45	38	45	43	36
	Unit value	21,070	23,070	25,327	21,044	20,687	19,704	17,684
Other products
	Value	407	305	308	241	272	927	546
	Total value	4,796	6,871	5,672	6,111	4,491	4,236	2,436
Memorandum item:
	Export price index ¹/	100.0	93.5	93.7	83.9	97.3	90.3	81.5

Source: General Directorate of Customs.

^{^1/}Index 1990=100; calculated by the Fund staff.

Table 33.

Comoros: Volume and Value of Principal Imports, c.i.f, 1990-96

(Value in millions of Comorian francs; volume in metric tons; unit value in Comorian francs per kilogram)

Source: General Directorate of Customs.

^{^1/}Including fabrications.

^{^2/}Balance of payments basis, including adjustments for coverage, valuation and recording errors.

^{^3/}Index 1990=100; calculated by the Fund staff.

Table 33.

Comoros: Volume and Value of Principal Imports, c.i.f, 1990-96

(Value in millions of Comorian francs; volume in metric tons; unit value in Comorian francs per kilogram)

		1990	1991	1992	1993	1994	1995	1996
Rice
	Value	2,247	2,022	2,157	1,650	2,614	5,252	3,318
	Volume	29,928	28,120	32,493	30,271	28,518	41,650	30,538
	Unit value	75	72	66	54	92	126	109
Meat
	Value	548	1,259	1,172	1,176	1,247	1,617	1,456
	Volume	1,565	3,518	2,649	2,873	2,216	2,574	2,373
	Unit value	350	358	442	409	563	628	613
Petroleum products
	Value	1,655	1,757	1,901	1,793	2,546	2,897	1,509
	Volume	25,116	24,613	30,536	21,148	23,816	33,962	15,663
	Unit value	66	71	62	85	107	85	96
Cement
	Value	961	921	875	1,020	1,676	1,652	880
	Volume	39,578	29,619	34,568	41,980	39,212	43,315	24,088
	Unit value	24	31	25	25	43	38	37
Iron and steel ¹/
	Value	301	483	634	626	778	804	858
	Volume	1,882	3,279	3,458	2,852	3,330	3,461	3,299
	Unit value	160	147	183	219	234	232	260
Other products
	Value ²/	9,842	11,214	12,847	11,630	14,827	13,189	15,828
	Total value ²/	15,554	17,657	19,586	17,895	23,689	25,411	23,849
Memorandum item:
	Import price index ³/	100.0	103.0	99.7	100.2	152.5	153.5	151.2

Source: General Directorate of Customs.

^{^1/}Including fabrications.

^{^2/}Balance of payments basis, including adjustments for coverage, valuation and recording errors.

^{^3/}Index 1990=100; calculated by the Fund staff.

Table 33.

Comoros: Volume and Value of Principal Imports, c.i.f, 1990-96

(Value in millions of Comorian francs; volume in metric tons; unit value in Comorian francs per kilogram)

		1990	1991	1992	1993	1994	1995	1996
Rice
	Value	2,247	2,022	2,157	1,650	2,614	5,252	3,318
	Volume	29,928	28,120	32,493	30,271	28,518	41,650	30,538
	Unit value	75	72	66	54	92	126	109
Meat
	Value	548	1,259	1,172	1,176	1,247	1,617	1,456
	Volume	1,565	3,518	2,649	2,873	2,216	2,574	2,373
	Unit value	350	358	442	409	563	628	613
Petroleum products
	Value	1,655	1,757	1,901	1,793	2,546	2,897	1,509
	Volume	25,116	24,613	30,536	21,148	23,816	33,962	15,663
	Unit value	66	71	62	85	107	85	96
Cement
	Value	961	921	875	1,020	1,676	1,652	880
	Volume	39,578	29,619	34,568	41,980	39,212	43,315	24,088
	Unit value	24	31	25	25	43	38	37
Iron and steel ¹/
	Value	301	483	634	626	778	804	858
	Volume	1,882	3,279	3,458	2,852	3,330	3,461	3,299
	Unit value	160	147	183	219	234	232	260
Other products
	Value ²/	9,842	11,214	12,847	11,630	14,827	13,189	15,828
	Total value ²/	15,554	17,657	19,586	17,895	23,689	25,411	23,849
Memorandum item:
	Import price index ³/	100.0	103.0	99.7	100.2	152.5	153.5	151.2

Source: General Directorate of Customs.

^{^1/}Including fabrications.

^{^2/}Balance of payments basis, including adjustments for coverage, valuation and recording errors.

^{^3/}Index 1990=100; calculated by the Fund staff.

Table 34.

Comoros: Geographical Distribution of Trade, 1990-96

(In percent)

Source: General Directorate of Customs.

Table 34.

Comoros: Geographical Distribution of Trade, 1990-96

(In percent)

				1990	1991	1992	1993	1994	1995	1996
Exports				100.00	100.00	100.00	100.00	100.00	100.00	100.00
	European Union			47.40	48.70	43.86	48.54	54.46	45.17	64.80
		of which
			France	40.90	41.50	37.90	39.28	46.89	36.53	48.91
			Germany	3.20	4.00	5.33	8.35	5.59	8.03	13.58
			Netherlands	1.30	1.20	0.35	0.31	1.50	0.43	2.32
	Africa			3.20	2.90	8.00	4.37	8.94	21.24	18.42
	United States			44.60	43.30	47.43	46.02	28.74	28.36	11.80
	Rest of the world			4.80	5.10	0.71	1.06	7.86	5.23	4.97
Imports				100.00	100.00	100.00	100.00	100.00	100.00	100.00
	European Union			46.24	46.10	38.90	44.85	49.50	35.91	47.30
		of which
			Belgium-Luxembourg	4.52	4.25	2.17	2.05	1.91	0.82	2.02
			France	37.41	35.45	33.98	39.31	41.50	32.19	41.59
			Germany	0.25	1.35	0.44	0.58	2.03	0.49	1.20
			Netherlands	2.35	1.70	1.68	1.50	1.05	0.68	0.83
	Other European countries			…	…	4.50	5.00	5.78	1.98	3.29
		of which
			Romania	…	…	2.27	3.57	3.61	1.07	1.54
			Switzerland	1.56	2.00	0.82	0.77	1.33	0.41	1.06
	Africa			…	…	32.07	30.98	25.82	17.90	20.08
		of which
			Kenya	0.82	1.00	8.50	10.80	11.16	4.30	6.96
			Madagascar	3.60	2.00	1.94	1.88	1.80	1.06	1.42
			Mauritius	0.65	0.70	1.48	2.18	2.44	1.28	1.23
			Réunion	1.25	1.30	4.43	3.98	3.13	3.32	2.92
			South Africa	14.70	15.10	13.80	8.57	6.82	6.74	6.97
	Asia			…	…	23.89	18.93	17.79	42.97	28.46
		of which
			China	…	…	6.84	0.18	0.04	5.12	0.65
			Japan	9.43	9.75	4.26	1.89	1.29	1.31	0.40
			Kuwait	4.30	2.70	0.00	0.00	0.00	0.02	0.17
			Pakistan	…	…	2.54	1.05	0.59	4.05	8.16
			Saudi Arabia	…	…	1.68	2.86	2.29	9.40	3.23
			Singapore	…	…	1.70	1.59	2.31	1.96	1.72
			Thailand	10.35	11.20	0.11	0.02	0.20	0.10	0.03
			Vietnam	…	…	4.01	8.99	5.89	0.00	6.11
	United States			0.65	1.65	0.42	0.18	0.49	0.83	0.11
	Rest of the world			6.45	6.50	0.22	0.07	0.62	0.39	0.75

Source: General Directorate of Customs.

Table 34.

Comoros: Geographical Distribution of Trade, 1990-96

(In percent)

				1990	1991	1992	1993	1994	1995	1996
Exports				100.00	100.00	100.00	100.00	100.00	100.00	100.00
	European Union			47.40	48.70	43.86	48.54	54.46	45.17	64.80
		of which
			France	40.90	41.50	37.90	39.28	46.89	36.53	48.91
			Germany	3.20	4.00	5.33	8.35	5.59	8.03	13.58
			Netherlands	1.30	1.20	0.35	0.31	1.50	0.43	2.32
	Africa			3.20	2.90	8.00	4.37	8.94	21.24	18.42
	United States			44.60	43.30	47.43	46.02	28.74	28.36	11.80
	Rest of the world			4.80	5.10	0.71	1.06	7.86	5.23	4.97
Imports				100.00	100.00	100.00	100.00	100.00	100.00	100.00
	European Union			46.24	46.10	38.90	44.85	49.50	35.91	47.30
		of which
			Belgium-Luxembourg	4.52	4.25	2.17	2.05	1.91	0.82	2.02
			France	37.41	35.45	33.98	39.31	41.50	32.19	41.59
			Germany	0.25	1.35	0.44	0.58	2.03	0.49	1.20
			Netherlands	2.35	1.70	1.68	1.50	1.05	0.68	0.83
	Other European countries			…	…	4.50	5.00	5.78	1.98	3.29
		of which
			Romania	…	…	2.27	3.57	3.61	1.07	1.54
			Switzerland	1.56	2.00	0.82	0.77	1.33	0.41	1.06
	Africa			…	…	32.07	30.98	25.82	17.90	20.08
		of which
			Kenya	0.82	1.00	8.50	10.80	11.16	4.30	6.96
			Madagascar	3.60	2.00	1.94	1.88	1.80	1.06	1.42
			Mauritius	0.65	0.70	1.48	2.18	2.44	1.28	1.23
			Réunion	1.25	1.30	4.43	3.98	3.13	3.32	2.92
			South Africa	14.70	15.10	13.80	8.57	6.82	6.74	6.97
	Asia			…	…	23.89	18.93	17.79	42.97	28.46
		of which
			China	…	…	6.84	0.18	0.04	5.12	0.65
			Japan	9.43	9.75	4.26	1.89	1.29	1.31	0.40
			Kuwait	4.30	2.70	0.00	0.00	0.00	0.02	0.17
			Pakistan	…	…	2.54	1.05	0.59	4.05	8.16
			Saudi Arabia	…	…	1.68	2.86	2.29	9.40	3.23
			Singapore	…	…	1.70	1.59	2.31	1.96	1.72
			Thailand	10.35	11.20	0.11	0.02	0.20	0.10	0.03
			Vietnam	…	…	4.01	8.99	5.89	0.00	6.11
	United States			0.65	1.65	0.42	0.18	0.49	0.83	0.11
	Rest of the world			6.45	6.50	0.22	0.07	0.62	0.39	0.75

Source: General Directorate of Customs.

Table 35.

Comoros: External Debt Outstanding, 1992-96

(In millions of U.S. dollars)

Source: Ministry of Finance.

^{^1/}Disbursed, outstanding, and not yet due.

Table 35.

Comoros: External Debt Outstanding, 1992-96

(In millions of U.S. dollars)

Creditor			1992	1993	1994	1995	1996
Multilateral loans			115.1	117.5	131.8	138.9	135.0
	International Development Association		40.8	45.0	54.7	64.7	67.6
	International Fund for Agricultural Development		2.7	2.9	3.1	3.1	3.0
	African Development Fund		38.8	37.4	41.5	41.8	39.6
	African Development Bank		11.8	11.0	10.8	9.3	7.2
	Arab Bank for Economic Development in Africa		4.8	4.2	3.6	3.0	2.4
	International Monetary Fund		1.2	1.2	3.3	3.3	3.2
	Islamic Development Bank		6.3	8.3	8.4	8.3	7.6
	Organization of Petroleum Exporting Countries Special Fund		3.1	2.6	2.2	1.8	1.5
	Arab Fund for Economic and Social Development		5.6	4.9	4.2	3.5	2.8
Bilateral loans			42.3	41.4	35.1	31.2	28.0
	Abu Dhabi		0.4	0.7	0.7	0.7	0.7
	Belgium		2.4	2.2	0.0	0.0	0.0
	China		1.9	1.6	0.8	0.6	0.6
	France		8.5	7.6	0.0	0.0	0.0
	Kuwait		9.4	18.9	22.0	20.6	19.3
	Saudi Arabia		9.7	10.3	11.6	9.3	7.4
		Total ¹/	157.4	158.9	167.0	170.1	163.0
Arrears
	Principal		27.0	18.1	20.8	27.9	33.6
	Interest		6.8	8.5	6.7	8.4	9.6
	Total arrears		33.8	26.6	27.5	36.3	43.2

Source: Ministry of Finance.

^{^1/}Disbursed, outstanding, and not yet due.

Table 35.

Comoros: External Debt Outstanding, 1992-96

(In millions of U.S. dollars)

Creditor			1992	1993	1994	1995	1996
Multilateral loans			115.1	117.5	131.8	138.9	135.0
	International Development Association		40.8	45.0	54.7	64.7	67.6
	International Fund for Agricultural Development		2.7	2.9	3.1	3.1	3.0
	African Development Fund		38.8	37.4	41.5	41.8	39.6
	African Development Bank		11.8	11.0	10.8	9.3	7.2
	Arab Bank for Economic Development in Africa		4.8	4.2	3.6	3.0	2.4
	International Monetary Fund		1.2	1.2	3.3	3.3	3.2
	Islamic Development Bank		6.3	8.3	8.4	8.3	7.6
	Organization of Petroleum Exporting Countries Special Fund		3.1	2.6	2.2	1.8	1.5
	Arab Fund for Economic and Social Development		5.6	4.9	4.2	3.5	2.8
Bilateral loans			42.3	41.4	35.1	31.2	28.0
	Abu Dhabi		0.4	0.7	0.7	0.7	0.7
	Belgium		2.4	2.2	0.0	0.0	0.0
	China		1.9	1.6	0.8	0.6	0.6
	France		8.5	7.6	0.0	0.0	0.0
	Kuwait		9.4	18.9	22.0	20.6	19.3
	Saudi Arabia		9.7	10.3	11.6	9.3	7.4
		Total ¹/	157.4	158.9	167.0	170.1	163.0
Arrears
	Principal		27.0	18.1	20.8	27.9	33.6
	Interest		6.8	8.5	6.7	8.4	9.6
	Total arrears		33.8	26.6	27.5	36.3	43.2

Source: Ministry of Finance.

^{^1/}Disbursed, outstanding, and not yet due.

Table 36.

Comoros: External Arrears, 1991-96

(In millions of Comorian francs)

Source: Ministry of Finance.

Table 36.

Comoros: External Arrears, 1991-96

(In millions of Comorian francs)

			1991	1992	1993	1994	1995	1996
Multilateral creditors			6,896	4,296	5,463	9,725	10,791	12,707
	International Development Association		0	0	0	65	62	95
	International Fund for Agricultural Development		0	0	0	0	50	52
	African Development Fund		441	0	151	482	683	930
	African Development Bank		3,191	186	831	2,141	2,738	3,439
	Arab Bank for Economic Development in Africa		1,118	1,440	1,819	2,830	2,893	3,398
	International Monetary Fund		0	0	0	0	0	0
	Islamic Development Bank		406	554	29	150	252	0
	Organization of Petroleum Exporting Countries Special Fund		526	615	803	1,268	1,285	1,497
	Arab Fund for Economic and Social Development		1,214	1,500	1,829	2,788	2,829	3,298
Bilateral creditors			3,937	5,004	2,382	1,314	2,561	4,099
	Abu Dhabi		61	87	0	0	1	1
	Belgium		0	0	0	0	0	0
	China		99	199	316	394	458	498
	France		0	0	66	0	0	0
	Kuwait		526	773	1,124	385	862	1,509
	Saudi Arabia		3,252	3,946	876	535	1,240	2,090
		Total	10,833	9,301	7,845	11,039	13,352	16,806
of which
	Principal		7,221	7,423	5,334	8,346	10,263	13,059
	Interest		3,612	1,878	2,511	2,693	3,089	3,747

Source: Ministry of Finance.

Table 36.

Comoros: External Arrears, 1991-96

(In millions of Comorian francs)

			1991	1992	1993	1994	1995	1996
Multilateral creditors			6,896	4,296	5,463	9,725	10,791	12,707
	International Development Association		0	0	0	65	62	95
	International Fund for Agricultural Development		0	0	0	0	50	52
	African Development Fund		441	0	151	482	683	930
	African Development Bank		3,191	186	831	2,141	2,738	3,439
	Arab Bank for Economic Development in Africa		1,118	1,440	1,819	2,830	2,893	3,398
	International Monetary Fund		0	0	0	0	0	0
	Islamic Development Bank		406	554	29	150	252	0
	Organization of Petroleum Exporting Countries Special Fund		526	615	803	1,268	1,285	1,497
	Arab Fund for Economic and Social Development		1,214	1,500	1,829	2,788	2,829	3,298
Bilateral creditors			3,937	5,004	2,382	1,314	2,561	4,099
	Abu Dhabi		61	87	0	0	1	1
	Belgium		0	0	0	0	0	0
	China		99	199	316	394	458	498
	France		0	0	66	0	0	0
	Kuwait		526	773	1,124	385	862	1,509
	Saudi Arabia		3,252	3,946	876	535	1,240	2,090
		Total	10,833	9,301	7,845	11,039	13,352	16,806
of which
	Principal		7,221	7,423	5,334	8,346	10,263	13,059
	Interest		3,612	1,878	2,511	2,693	3,089	3,747

Source: Ministry of Finance.

Table 37.

Comoros: External Debt-Service Payments, 1992-96

(In millions of U.S. dollars)

Source: Ministry of Finance.

^{^1/}Includes debt rescheduling in 1996.

^{^2/}Includes debt cancellations in 1994.

Table 37.

Comoros: External Debt-Service Payments, 1992-96

(In millions of U.S. dollars)

		1992	1993	1994	1995	1996
Principal due		7.35	7.53	19.14	9.47	16.00
	of which: paid	7.93	0.50	0.82	0.39	0.88
Multilateral creditors		4.16	4.34	4.60	4.56	11.04
	International Development Association	0.26	0.29	0.34	0.38	0.39
	International Fund for Agricultural Development	0.00	0.00	0.03	0.07	0.07
	African Development Fund	0.20	0.25	0.31	0.32	0.31
	African Development Bank	1.29	1.35	1.38	1.41	1.36
	Arab Bank for Economic Development in Africa	0.58	0.61	0.59	0.63	0.68
	International Monetary Fund	0.00	0.00	0.00	0.00	0.00
	Islamic Development Bank ¹/	0.57	0.57	0.88	0.77	7.21
	Organization of Petroleum Exporting Countries Special Fund	0.54	0.55	0.39	0.30	0.31
	Arab Fund for Economic and Social Development	0.73	0.73	0.67	0.69	0.71
Bilateral creditors		3.20	3.19	14.54	4.90	4.95
	Abu Dhabi	0.08	0.08	0.07	0.07	0.08
	Belgium ²/	0.00	0.00	2.42	0.00	0.00
	China	0.36	0.36	0.23	0.24	0.01
	France ²/	0.35	0.33	8.10	0.00	0.00
	Kuwait	0.76	0.77	0.88	1.19	1.37
	Saudi Arabia	1.65	1.65	2.84	3.41	3.49
Interest due		2.58	2.59	2.20	2.19	2.04
	of which: paid	9.61	0.49	0.31	0.46	0.50
Multilateral creditors		1.96	2.03	1.81	1.84	1.73
	International Development Association	0.31	0.33	0.35	0.47	0.56
	International Fund for Agricultural Development	0.02	0.03	0.02	0.07	0.04
	African Development Fund	0.22	0.28	0.29	0.32	0.31
	African Development Bank	0.85	0.80	0.73	0.69	0.59
	Arab Bank for Economic Development in Africa	0.37	0.37	0.27	0.17	0.15
	International Monetary Fund	0.01	0.01	0.01	0.02	0.02
	Islamic Development Bank	0.07	0.06	0.05	0.05	0.00
	OPEC Special Fund	0.04	0.08	0.03	0.03	0.02
	Arab Fund for Economic and Social Development	0.07	0.06	0.05	0.04	0.04
Bilateral creditors		0.62	0.56	0.39	0.35	0.31
	Abu Dhabi	0.01	0.01	0.01	0.00	0.00
	Belgium	0.00	0.00	0.00	0.00	0.00
	China	0.01	0.01	0.01	0.01	0.01
	France	0.17	0.14	0.00	0.00	0.00
	Kuwait	0.23	0.23	0.20	0.18	0.18
	Saudi Arabia	0.20	0.17	0.18	0.15	0.13
Total debt service due		9.93	10.12	21.34	11.66	18.04
	of which: paid	17.54	0.99	1.14	0.85	1.38
Multilateral creditors		6.11	6.37	6.41	6.41	12.77
Bilateral creditors		3.81	3.75	14.93	5.25	5.27

Source: Ministry of Finance.

^{^1/}Includes debt rescheduling in 1996.

^{^2/}Includes debt cancellations in 1994.

Table 37.

Comoros: External Debt-Service Payments, 1992-96

(In millions of U.S. dollars)

		1992	1993	1994	1995	1996
Principal due		7.35	7.53	19.14	9.47	16.00
	of which: paid	7.93	0.50	0.82	0.39	0.88
Multilateral creditors		4.16	4.34	4.60	4.56	11.04
	International Development Association	0.26	0.29	0.34	0.38	0.39
	International Fund for Agricultural Development	0.00	0.00	0.03	0.07	0.07
	African Development Fund	0.20	0.25	0.31	0.32	0.31
	African Development Bank	1.29	1.35	1.38	1.41	1.36
	Arab Bank for Economic Development in Africa	0.58	0.61	0.59	0.63	0.68
	International Monetary Fund	0.00	0.00	0.00	0.00	0.00
	Islamic Development Bank ¹/	0.57	0.57	0.88	0.77	7.21
	Organization of Petroleum Exporting Countries Special Fund	0.54	0.55	0.39	0.30	0.31
	Arab Fund for Economic and Social Development	0.73	0.73	0.67	0.69	0.71
Bilateral creditors		3.20	3.19	14.54	4.90	4.95
	Abu Dhabi	0.08	0.08	0.07	0.07	0.08
	Belgium ²/	0.00	0.00	2.42	0.00	0.00
	China	0.36	0.36	0.23	0.24	0.01
	France ²/	0.35	0.33	8.10	0.00	0.00
	Kuwait	0.76	0.77	0.88	1.19	1.37
	Saudi Arabia	1.65	1.65	2.84	3.41	3.49
Interest due		2.58	2.59	2.20	2.19	2.04
	of which: paid	9.61	0.49	0.31	0.46	0.50
Multilateral creditors		1.96	2.03	1.81	1.84	1.73
	International Development Association	0.31	0.33	0.35	0.47	0.56
	International Fund for Agricultural Development	0.02	0.03	0.02	0.07	0.04
	African Development Fund	0.22	0.28	0.29	0.32	0.31
	African Development Bank	0.85	0.80	0.73	0.69	0.59
	Arab Bank for Economic Development in Africa	0.37	0.37	0.27	0.17	0.15
	International Monetary Fund	0.01	0.01	0.01	0.02	0.02
	Islamic Development Bank	0.07	0.06	0.05	0.05	0.00
	OPEC Special Fund	0.04	0.08	0.03	0.03	0.02
	Arab Fund for Economic and Social Development	0.07	0.06	0.05	0.04	0.04
Bilateral creditors		0.62	0.56	0.39	0.35	0.31
	Abu Dhabi	0.01	0.01	0.01	0.00	0.00
	Belgium	0.00	0.00	0.00	0.00	0.00
	China	0.01	0.01	0.01	0.01	0.01
	France	0.17	0.14	0.00	0.00	0.00
	Kuwait	0.23	0.23	0.20	0.18	0.18
	Saudi Arabia	0.20	0.17	0.18	0.15	0.13
Total debt service due		9.93	10.12	21.34	11.66	18.04
	of which: paid	17.54	0.99	1.14	0.85	1.38
Multilateral creditors		6.11	6.37	6.41	6.41	12.77
Bilateral creditors		3.81	3.75	14.93	5.25	5.27

Source: Ministry of Finance.

^{^1/}Includes debt rescheduling in 1996.

^{^2/}Includes debt cancellations in 1994.

Table 38.

Comoros: Average Terms of New Public External Debt Commitments, 1991-96

Source: IBRD, Debt Reporting System.

Table 38.

Comoros: Average Terms of New Public External Debt Commitments, 1991-96

		1991	1992	1993	1994	1995	1996
		(In millions of U.S. dollars)
Commitments		31.3	0.0	0.1	18.1	0.0	0.0
	Multilateral loans	31.3	0.0	0.1	18.1	0.0	0.0
	Bilateral loans	0.0	0.0	0.0	0.0	0.0	0.0
		(In percent)
Interest		0.86	…	0.75	0.75	…	…
	Multilateral loans	0.86	…	0.75	0.75	…	…
	Bilateral loans	…	…	…	…	…	…
		(In years)
Maturity		39.1	…	40.0	39.6	…	…
	Multilateral loans	39.1	…	40.0	39.6	…	…
	Bilateral loans	…	…	…	…	…	…
Grace period		9.3	…	10.0	10.1	…	…
	Multilateral loans	9.3	…	10.0	10.1	…	…
	Bilateral loans	…	…	…	…	…	…
		(In percent)
Grant element		77.4	…	80.5	80.4	…	…
	Multilateral loans	77.4	…	80.5	80.4	…	…
	Bilateral loans	…	…	…	…	…	…

Source: IBRD, Debt Reporting System.

Table 38.

Comoros: Average Terms of New Public External Debt Commitments, 1991-96

		1991	1992	1993	1994	1995	1996
		(In millions of U.S. dollars)
Commitments		31.3	0.0	0.1	18.1	0.0	0.0
	Multilateral loans	31.3	0.0	0.1	18.1	0.0	0.0
	Bilateral loans	0.0	0.0	0.0	0.0	0.0	0.0
		(In percent)
Interest		0.86	…	0.75	0.75	…	…
	Multilateral loans	0.86	…	0.75	0.75	…	…
	Bilateral loans	…	…	…	…	…	…
		(In years)
Maturity		39.1	…	40.0	39.6	…	…
	Multilateral loans	39.1	…	40.0	39.6	…	…
	Bilateral loans	…	…	…	…	…	…
Grace period		9.3	…	10.0	10.1	…	…
	Multilateral loans	9.3	…	10.0	10.1	…	…
	Bilateral loans	…	…	…	…	…	…
		(In percent)
Grant element		77.4	…	80.5	80.4	…	…
	Multilateral loans	77.4	…	80.5	80.4	…	…
	Bilateral loans	…	…	…	…	…	…

Source: IBRD, Debt Reporting System.

Table 39.

Comoros: Summary of Tax System, 1997

Source: Ministry of Finance, Budget, and Planning.

Table 39.

Comoros: Summary of Tax System, 1997

Tax			Nature of Tax	Exemptions and Deductions	Rates
1.	Taxes on net income and profits
	1.1	Taxes on miscellaneous profits (impôts sur les bénéfices divers -IBD)	Tax levied on all individuals and corporations involved in commercial activities or in other lucrative activities.	Agricultural cooperatives and credit unions, government agencies and offices, managers of low-cost housing, and enterprises eligible under the provisions of the Investment Code.	30 percent for individuals; 40 percent for corporations.
			Advance tax payment levied by customs on imports.		1 percent of import value, c.i.f, and 5 percent for occasional imports.
			Advance tax payment levied by customs on imports.		1.2	Taxes on capital income (IRCM)	Tax on distributed dividends and interest paid.	Interest on loans contracted or granted by the Development Bank, government low-cost housing offices, loan companies, agricultural credit unions, and the Caisse Française de Développement.	15 percent.
	1.3	General income tax (IGR)	General tax on income of any type, payable by all individuals habitually resident in the Comoros or not resident but receiving income in the Comoros.
	CF 150,001-500,000	5 percent
	CF 500,001-1,000,000	10 percent
CF 1,000,001-1,500,000	15 percent
CF 1,500,001-2,000,000	20 percent
CF 2,500,001-3,500,000	25 percent Over
CF 3,500,000: 30 percent
1.4	Single Professional Tax (TPU)	Tax levied on all individuals or corporations involved in commercial activities or any other lucrative operations and whose turnover is less than CF 20,000,000.	In the event that the provisions of the Investment Code are approved.	CF 0-5,000,000 business license × 1 CF 5,000,000-10,000,000 business license × 2 CF 10,000,000-15,000,000 business license × 3 CF 15,000,000-20,000.000 business license × 4
2.	Property tax
2.	Tax on developed or rented property (IPBL)		Annual tax on dwellings and commercial and industrial premises.	New properties used as dwellings for the first two years, and properties belonging to the government or to communes.	Dwellings: 20 percent of rental value; commercial and industrial premises: 30 percent.
3.	Taxes on goods and services
	3.1	Business license	Tax on any individual or corporation involved in trade, industry, or a liberal profession.	Public or private sector employees, for their wage-earning activity only, manual workers, artists, farmers, agricultural cooperatives, agricultural credit unions, insurance companies, midwives, and the Caisse Française de Développement.	CF 5,000-300,000 fixed tax, depending on the activity; 10 percent proportional tax, calculated on the rental value of the premises and the value of all means of production.
	3.2	General sales tax (GV)	Sales tax on imports (base: c.i.f. plus single import tax) and domestic production and services (base: turnover).	Trading and medical services are exempt. Enterprises with turnover of CF 20 million or less are exempt.	Single rate: 7 percent; electricity and telephone: 5 percent; and water: 3 percent.
				Exports and bunkering/petroleum products as well as journals and newspapers are example.
	3.3	Visa fee	Annual tax payable by all foreigners over 18 years of age residing in the Comoros.
	1-5-day tourist visa	CF	3,000
	1-15-day tourist visa	CF	10,000
1-45-day tourist visa	CF	15,000
Long-term tourist visa	CF	30,000
Residency card	CF	60,000
One-time exit visa	CF	500
Exit-entry visa	CF	2,000
Multiple-exit visa	CF	20,000
3.4	Motor vehicle tax	Annual tax on vehicles in use.	Vehicles owned by the central government or local governments, and foreign vehicles if kept in the Comoros less than three months or belonging to diplomats.	CF 9,000-22,500, depending on the age and power of the vehicle.
3.5	Special tax on diesel engine vehicles	Annual tax on vehicles in use.	Vehicles owned by the central government or local governments, and vehicles used in agricultural activities.	CF 25,000 per unit of horsepower.
4.	Taxes on international trade
	4.1	Single import tax (TUI)	All imported goods.	Goods imported by the central government under grants, and imports by diplomatic missions.	Rates of 20 percent, 30 percent, or 40 percent of import value, c.i.f.
	4.2	Single specific tax on imports (TUS)	Selected imports.	Goods imported by the central government under grants, and imports by diplomatic missions.	CF 10-150 per kilo, CF 8-200 per liter.
	4.3	Special fiscal duty (TSVF)	Levied on alcoholic beverages and tobacco products.		Fot alcoholic beverages, 150 percent; for tobacco products, 180 percent.
	4.4	Statistical levy (RI)	All imported goods.	Goods imported by the central government under grants, and imports by diplomatic missions.	1 percent of customs receipts on taxable imports; 3 percent of c.i.f. value of exempt imports.
	4.5	Single tax on petroleum products (TPP)		Reduced rate applied to diplomatic missions, ships, and aircraft.
	Gasoline	(normal rate)	CF	150/1
	Gasoline	(reduced rate)	CF	135/1
	Diesel oil	(normal rate)	CF	50/1
Diesel oil	(reduced rate)	CF	35/1
Aircraft fuel	(normal rate)	CF	10/1
Aircraft fuel	(normal rate)	CF	8/1
Breakdown: budget, 90 percent; Road Fund, 10 percent
4.6	Single tax on rice			CF 70/kg for high-grade rice; CF 50/kg for ordinary rice.
4.7	Withholding tax (ASDI)	Levied on all commercial imports.	Immediately deductible from payments of domestic taxes (ISD, IGR, TPU, IRVM, TGV, or business license).	3 percent of c.i.f. value.
4.8	Export duty			Ylang-ylang and other perfume oils: 11.6 percent; other products: 0 percent.
5.	Additional centime		Levied on behalf of the Chamber of Commerce (UCCIA).		1 percent of export value, f.o.b., less export duties.

Source: Ministry of Finance, Budget, and Planning.

Table 39.

Comoros: Summary of Tax System, 1997

Tax			Nature of Tax	Exemptions and Deductions	Rates
1.	Taxes on net income and profits
	1.1	Taxes on miscellaneous profits (impôts sur les bénéfices divers -IBD)	Tax levied on all individuals and corporations involved in commercial activities or in other lucrative activities.	Agricultural cooperatives and credit unions, government agencies and offices, managers of low-cost housing, and enterprises eligible under the provisions of the Investment Code.	30 percent for individuals; 40 percent for corporations.
			Advance tax payment levied by customs on imports.		1 percent of import value, c.i.f, and 5 percent for occasional imports.
			Advance tax payment levied by customs on imports.		1.2	Taxes on capital income (IRCM)	Tax on distributed dividends and interest paid.	Interest on loans contracted or granted by the Development Bank, government low-cost housing offices, loan companies, agricultural credit unions, and the Caisse Française de Développement.	15 percent.
	1.3	General income tax (IGR)	General tax on income of any type, payable by all individuals habitually resident in the Comoros or not resident but receiving income in the Comoros.
	CF 150,001-500,000	5 percent
	CF 500,001-1,000,000	10 percent
CF 1,000,001-1,500,000	15 percent
CF 1,500,001-2,000,000	20 percent
CF 2,500,001-3,500,000	25 percent Over
CF 3,500,000: 30 percent
1.4	Single Professional Tax (TPU)	Tax levied on all individuals or corporations involved in commercial activities or any other lucrative operations and whose turnover is less than CF 20,000,000.	In the event that the provisions of the Investment Code are approved.	CF 0-5,000,000 business license × 1 CF 5,000,000-10,000,000 business license × 2 CF 10,000,000-15,000,000 business license × 3 CF 15,000,000-20,000.000 business license × 4
2.	Property tax
2.	Tax on developed or rented property (IPBL)		Annual tax on dwellings and commercial and industrial premises.	New properties used as dwellings for the first two years, and properties belonging to the government or to communes.	Dwellings: 20 percent of rental value; commercial and industrial premises: 30 percent.
3.	Taxes on goods and services
	3.1	Business license	Tax on any individual or corporation involved in trade, industry, or a liberal profession.	Public or private sector employees, for their wage-earning activity only, manual workers, artists, farmers, agricultural cooperatives, agricultural credit unions, insurance companies, midwives, and the Caisse Française de Développement.	CF 5,000-300,000 fixed tax, depending on the activity; 10 percent proportional tax, calculated on the rental value of the premises and the value of all means of production.
	3.2	General sales tax (GV)	Sales tax on imports (base: c.i.f. plus single import tax) and domestic production and services (base: turnover).	Trading and medical services are exempt. Enterprises with turnover of CF 20 million or less are exempt.	Single rate: 7 percent; electricity and telephone: 5 percent; and water: 3 percent.
				Exports and bunkering/petroleum products as well as journals and newspapers are example.
	3.3	Visa fee	Annual tax payable by all foreigners over 18 years of age residing in the Comoros.
	1-5-day tourist visa	CF	3,000
	1-15-day tourist visa	CF	10,000
1-45-day tourist visa	CF	15,000
Long-term tourist visa	CF	30,000
Residency card	CF	60,000
One-time exit visa	CF	500
Exit-entry visa	CF	2,000
Multiple-exit visa	CF	20,000
3.4	Motor vehicle tax	Annual tax on vehicles in use.	Vehicles owned by the central government or local governments, and foreign vehicles if kept in the Comoros less than three months or belonging to diplomats.	CF 9,000-22,500, depending on the age and power of the vehicle.
3.5	Special tax on diesel engine vehicles	Annual tax on vehicles in use.	Vehicles owned by the central government or local governments, and vehicles used in agricultural activities.	CF 25,000 per unit of horsepower.
4.	Taxes on international trade
	4.1	Single import tax (TUI)	All imported goods.	Goods imported by the central government under grants, and imports by diplomatic missions.	Rates of 20 percent, 30 percent, or 40 percent of import value, c.i.f.
	4.2	Single specific tax on imports (TUS)	Selected imports.	Goods imported by the central government under grants, and imports by diplomatic missions.	CF 10-150 per kilo, CF 8-200 per liter.
	4.3	Special fiscal duty (TSVF)	Levied on alcoholic beverages and tobacco products.		Fot alcoholic beverages, 150 percent; for tobacco products, 180 percent.
	4.4	Statistical levy (RI)	All imported goods.	Goods imported by the central government under grants, and imports by diplomatic missions.	1 percent of customs receipts on taxable imports; 3 percent of c.i.f. value of exempt imports.
	4.5	Single tax on petroleum products (TPP)		Reduced rate applied to diplomatic missions, ships, and aircraft.
	Gasoline	(normal rate)	CF	150/1
	Gasoline	(reduced rate)	CF	135/1
	Diesel oil	(normal rate)	CF	50/1
Diesel oil	(reduced rate)	CF	35/1
Aircraft fuel	(normal rate)	CF	10/1
Aircraft fuel	(normal rate)	CF	8/1
Breakdown: budget, 90 percent; Road Fund, 10 percent
4.6	Single tax on rice			CF 70/kg for high-grade rice; CF 50/kg for ordinary rice.
4.7	Withholding tax (ASDI)	Levied on all commercial imports.	Immediately deductible from payments of domestic taxes (ISD, IGR, TPU, IRVM, TGV, or business license).	3 percent of c.i.f. value.
4.8	Export duty			Ylang-ylang and other perfume oils: 11.6 percent; other products: 0 percent.
5.	Additional centime		Levied on behalf of the Chamber of Commerce (UCCIA).		1 percent of export value, f.o.b., less export duties.

Source: Ministry of Finance, Budget, and Planning.

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Comoros: Statistical Annex

Author:

International Monetary Fund

Volume/Issue:: Volume 1997: Issue 115

Publisher:: International Monetary Fund

ISBN:: 9781451809015

ISSN:: 1934-7685

Pages:: 48

DOI:: https://doi.org/10.5089/9781451809015.002

Keywords

Foresee

Table 39.

Comoros: Summary of Tax System, 1997

Tax			Nature of Tax	Exemptions and Deductions	Rates
1.	Taxes on net income and profits
	1.1	Taxes on miscellaneous profits (impôts sur les bénéfices divers -IBD)	Tax levied on all individuals and corporations involved in commercial activities or in other lucrative activities.	Agricultural cooperatives and credit unions, government agencies and offices, managers of low-cost housing, and enterprises eligible under the provisions of the Investment Code.	30 percent for individuals; 40 percent for corporations.
			Advance tax payment levied by customs on imports.		1 percent of import value, c.i.f, and 5 percent for occasional imports.
			Advance tax payment levied by customs on imports.		1.2	Taxes on capital income (IRCM)	Tax on distributed dividends and interest paid.	Interest on loans contracted or granted by the Development Bank, government low-cost housing offices, loan companies, agricultural credit unions, and the Caisse Française de Développement.	15 percent.
	1.3	General income tax (IGR)	General tax on income of any type, payable by all individuals habitually resident in the Comoros or not resident but receiving income in the Comoros.
	CF 150,001-500,000	5 percent
	CF 500,001-1,000,000	10 percent
CF 1,000,001-1,500,000	15 percent
CF 1,500,001-2,000,000	20 percent
CF 2,500,001-3,500,000	25 percent Over
CF 3,500,000: 30 percent
1.4	Single Professional Tax (TPU)	Tax levied on all individuals or corporations involved in commercial activities or any other lucrative operations and whose turnover is less than CF 20,000,000.	In the event that the provisions of the Investment Code are approved.	CF 0-5,000,000 business license × 1 CF 5,000,000-10,000,000 business license × 2 CF 10,000,000-15,000,000 business license × 3 CF 15,000,000-20,000.000 business license × 4
2.	Property tax
2.	Tax on developed or rented property (IPBL)		Annual tax on dwellings and commercial and industrial premises.	New properties used as dwellings for the first two years, and properties belonging to the government or to communes.	Dwellings: 20 percent of rental value; commercial and industrial premises: 30 percent.
3.	Taxes on goods and services
	3.1	Business license	Tax on any individual or corporation involved in trade, industry, or a liberal profession.	Public or private sector employees, for their wage-earning activity only, manual workers, artists, farmers, agricultural cooperatives, agricultural credit unions, insurance companies, midwives, and the Caisse Française de Développement.	CF 5,000-300,000 fixed tax, depending on the activity; 10 percent proportional tax, calculated on the rental value of the premises and the value of all means of production.
	3.2	General sales tax (GV)	Sales tax on imports (base: c.i.f. plus single import tax) and domestic production and services (base: turnover).	Trading and medical services are exempt. Enterprises with turnover of CF 20 million or less are exempt.	Single rate: 7 percent; electricity and telephone: 5 percent; and water: 3 percent.
				Exports and bunkering/petroleum products as well as journals and newspapers are example.
	3.3	Visa fee	Annual tax payable by all foreigners over 18 years of age residing in the Comoros.
	1-5-day tourist visa	CF	3,000
	1-15-day tourist visa	CF	10,000
1-45-day tourist visa	CF	15,000
Long-term tourist visa	CF	30,000
Residency card	CF	60,000
One-time exit visa	CF	500
Exit-entry visa	CF	2,000
Multiple-exit visa	CF	20,000
3.4	Motor vehicle tax	Annual tax on vehicles in use.	Vehicles owned by the central government or local governments, and foreign vehicles if kept in the Comoros less than three months or belonging to diplomats.	CF 9,000-22,500, depending on the age and power of the vehicle.
3.5	Special tax on diesel engine vehicles	Annual tax on vehicles in use.	Vehicles owned by the central government or local governments, and vehicles used in agricultural activities.	CF 25,000 per unit of horsepower.
4.	Taxes on international trade
	4.1	Single import tax (TUI)	All imported goods.	Goods imported by the central government under grants, and imports by diplomatic missions.	Rates of 20 percent, 30 percent, or 40 percent of import value, c.i.f.
	4.2	Single specific tax on imports (TUS)	Selected imports.	Goods imported by the central government under grants, and imports by diplomatic missions.	CF 10-150 per kilo, CF 8-200 per liter.
	4.3	Special fiscal duty (TSVF)	Levied on alcoholic beverages and tobacco products.		Fot alcoholic beverages, 150 percent; for tobacco products, 180 percent.
	4.4	Statistical levy (RI)	All imported goods.	Goods imported by the central government under grants, and imports by diplomatic missions.	1 percent of customs receipts on taxable imports; 3 percent of c.i.f. value of exempt imports.
	4.5	Single tax on petroleum products (TPP)		Reduced rate applied to diplomatic missions, ships, and aircraft.
	Gasoline	(normal rate)	CF	150/1
	Gasoline	(reduced rate)	CF	135/1
	Diesel oil	(normal rate)	CF	50/1
Diesel oil	(reduced rate)	CF	35/1
Aircraft fuel	(normal rate)	CF	10/1
Aircraft fuel	(normal rate)	CF	8/1
Breakdown: budget, 90 percent; Road Fund, 10 percent
4.6	Single tax on rice			CF 70/kg for high-grade rice; CF 50/kg for ordinary rice.
4.7	Withholding tax (ASDI)	Levied on all commercial imports.	Immediately deductible from payments of domestic taxes (ISD, IGR, TPU, IRVM, TGV, or business license).	3 percent of c.i.f. value.
4.8	Export duty			Ylang-ylang and other perfume oils: 11.6 percent; other products: 0 percent.
5.	Additional centime		Levied on behalf of the Chamber of Commerce (UCCIA).		1 percent of export value, f.o.b., less export duties.

Source: Ministry of Finance, Budget, and Planning.

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