Comoros
The economy of the Comoros grew by an estimated 2.7% in 2012, despite the ongoing euro area crisis. This growth was driven by strong agricultural exports, continued strong foreign direct investment (FDI) in the transport sector (roads and ports) and domestic demand, supported by remittances from emigrants. The expected recovery of public investment in economic and social infrastructure (energy, water, transport, health and education) after the Comoros reached the completion point of the Heavily Indebted Poor Countries (HIPC) Initiative should boost private investment, which is forecast to grow by 9% in 2013 and 2014.
In a difficult international economic climate, growth in the Comoros should reach 2% in 2011, driven by agricultural exports and essentially private final demand, supported by remittances from emigrants. These transfers represented 23% of gross domestic product (GDP) in 2011 and should stay at a comparable level in 2012 despite unfavourable economic conditions in France, the main host country for Comorian migrants. Growth should continue and reach 3.1% in 2012 and 3.5% in 2013. It should be underpinned by the start of work on several major infrastructure projects in the fields of transport, tourism and energy, even though their launch is likely to aggravate the budget deficit by increasing imports. The current account deficit should fall slightly in 2012 before increasing to 9.7% in 2013. Despite the application of strict money-supply management criteria by the Central Bank of the Comoros (BCC), growth in 2012 and 2013 should generate some inflation (see table 1).
The Union of the Comoros is an archipelago of three islands (Grande Comore, Anjouan and Moheli), with an undiversified economy and few natural resources. The country has suffered from chronic political instability for a number of years, with repeated coups and secessionist leanings among the islands, and this troubled political climate has hampered its economic and social development.
The Comoros economy continued to stagnate in 2009, with real gross domestic product (GDP) growth estimated at 1.4%. The world recession affected the country mainly by delaying foreign direct investment (FDI) in the tourism sector. Remittances declined slightly, while aid decreased sharply to its 2007 level, after the historical high of 2008.
Given the fast pace of global socio-economic development, more tailored, focused, and localised efforts to strengthen public sector capacity in small island developing states (SIDS) is increasingly important. SIDS have unique vulnerabilities, rich histories and contexts, and strengths that can be harnessed for sustainable development. Development partners need to adapt how they provide capacity-strengthening support, taking individual SIDS’ circumstances and needs into account to better help them achieve their ambitions. This report summarises perspectives from small island developing states (SIDS) on current experiences and opportunities to improve capacity-strengthening support to make it more tailored, impactful, and sustainable. The report uses the broad definition of capacity-strengthening as activities that improve the competencies and abilities of individuals, organisations, and broader formal and informal social structures in a way that boosts organisational performance. It concentrates on public sector capacity, including interactions with other stakeholders across sectors.