Vanuatu's real per capita GDP is estimated at US$1,276 (1999 figure at 1983 prices), having peaked at US$1,350 in 1995. A comprehensive reform program was embarked on in 1997 with multilateral and bilateral donor support to halt this fall and induce a revival. Areas targeted for reform and those with some success to date include the rescue of the national bank and the national provident fund. Areas of marginal achievement include containment of budget deficits and arrest of the rising national debt. Attempts to induce growth of private enterprises have yet to yield results. A revival of growth in per capita GDP is eagerly awaited.
|Journal||Pacific Economic Bulletin|
|Publication status||Published - 2002|