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Kiribati: Agricultural Subsidies for Copra: Improving Efficiency and Equity and Balancing Trade-offs
Author:
International Monetary Fund. Fiscal Affairs Dept.
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Series:
High-Level Summary Technical Assistance Reports
Volume/Issue:
Volume 2024: Issue 042
Language:
English
Publication Date:
21 Nov 2024
DOI:
https://doi.org/10.5089/9798400291937.029
ISBN:
9798400291937
ISSN:
2959-4103
Pages:
4
Keywords:
Kiribati; subsidy; agriculture; efficiency; equity; expenditure; IMF activity; subsidy scheme; copra value chain; value chain concern; farmgate price; public goods provision; Government subsidies; Export prices; Agricultural sector; Consumption
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This technical assistance mission assessed Kiribati’s agricultural output price scheme that subsidizes the production of copra (dried coconut). The mission estimates that subsidies in 2023 amounted to 7.8 percent of GDP. The scheme’s technical and allocative inefficiencies, incidence in rural areas, and high fiscal cost, could be mitigated in the short- and medium term, by scaling back the subsidies, replacing them in part with cash transfers and public goods provision in the outer islands, securing fiscal savings in the process, and introducing competitive elements in the copra value chain.
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Cover High-Level Summary Technical Assistance Reports
High-Level Summary Technical Assistance Reports
ISSN:
2957-658X
Publisher:
International Monetary Fund