In 2003, Micronesia was an island nation located in the western Pacific Ocean. It had a population of around 120,000 people, primarily speaking English and several Micronesian languages. According to computergees, the capital city was Palikir, which is home to the Presidential Palace and several other important government buildings and monuments. The economy relied heavily on its tourism sector with fishing being the main export item. Tourism was increasingly popular due to its stunning beaches and idyllic islands. In addition to its natural beauty, Micronesia had a rich cultural heritage with traditional music, cuisine and art that blended Melanesian influences with those from Polynesia and Asia. Despite its many challenges including poverty and political unrest in 2003, Micronesia remained a vibrant country that held great promise for its future generations.
Yearbook 2003
Micronesia Federation. According to Countryaah.com, Micronesia Independence Day is November 3. President Leo Amy Falcam surprisingly lost his seat in Congress to opponent Resio Moses in the March 4 election, when five new senators were elected. On May 10, Congress appointed Joseph Urusemal from the island of Yap as new president. Senator Redley Killion of Chuuk was re-elected Vice President and Senator Peter Christian was elected Congress President.
In May, Micronesia signed a new agreement with the United States that would provide the country with $ 1.8 billion in support over the next 20 years. It is part of the association agreement with the United States and replaces a pact that actually expired in 2001 but which was extended.
Economy
| Inflation rate | 0.50% |
| Unemployment rate | 16.2% |
| Gross domestic product (GDP) | $ 348,000,000 |
| GDP growth rate | 2.00% |
| GDP per capita | $ 3,400 |
| GDP by sector | |
| Agriculture | 26.30% |
| Industry | 18.90% |
| Service | 54.80% |
| State budget | |
| Revenue | 127.3 million |
| Expenditure | 144.2 million |
| Proportion of the population below the national poverty line | 26.7% |
| Distribution of household income | |
| Top 10% | k. A. |
| Lower 10% | k. A. |
| Industrial production growth rate | |
| Investment volume | |
| National debt | 24.50% of GDP |
| Foreign exchange reserves | $ 157,000,000 |
| Tourism | 2014 |
| Visitors | 35,000 |
| Revenue | $ 24,000,000 |
The two countries also agreed to create a capital fund to make Micronesia self-sufficiency ahead of a planned reduction of US support after 2004. There was concern in Micronesia that the new fund would not be able to replace the US grants. Before the agreement came into force, it was to be approved by the parliaments of both countries.
Micronesia Brief Guide
According to AbbreviationFinder, the conglomeration of hundreds of small islands in the heart of the Carolean Islands at the crossroads of the great ocean currents makes the Republic of Micronesia an interesting cultural and diving destination. In addition to underwater life, the most famous attractions are the even four-meter stone coins of the Yap Islands. Whether you want to take a kayak or surfboard or put an oxygen bottle on your back, you will find good opportunities for an active but relaxed holiday in Micronesia.