Report

Turning Smallness into Uniqueness : Six Key Challenges to Unlock Sao Tome and Principe Growth’s Potential

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collection.link.76
https://openknowledge.worldbank.org/handle/10986/2184
collection.name.76
Country Economic Memorandum
dc.contributor.author
World Bank
dc.date.accessioned
2019-07-29T21:38:11Z
dc.date.available
2019-07-29T21:38:11Z
dc.date.issued
2019-07-24
dc.date.lastModified
2019-07-30T05:10:53Z
dc.description.abstract
Economic growth in Sao Tome and Príncipe (STP) has long been driven by an unsustainable reliance on public expenditures, especially grant- and loan-financed public investment. STP needs to turn its smallness into uniqueness to unlock its growth potential. To accomplish this transformation, this image must be matched by a more balanced growth in which the private sector plays a larger role and with a more effective government. Tourism, agriculture, and fisheries could drive the country’s transition to a more balanced growth pattern. This Country Economic Memorandum (CEM) highlights six key challenges that STP must overcome as it transitions to a more balanced growth pattern and it offers policy recommendations for addressing each challenge. Accomplishing this rebalancing will require STP to address six key challenges at the macroeconomic, structural, and sectoral level. These include: (i) The twin budget and current-account deficits; (ii) Weak trade connectivity by both air and sea; (iii) Credit constraints caused by a high level of non-performing loans and difficulties enforcing commercial contracts; (iv) Uncertainty surrounding property rights and land tenure; (v) Poor-quality infrastructure, especially in the energy and transportation sector; and (vi) The overexploitation of marine resources.
en
dc.identifier
http://documents.worldbank.org/curated/en/567101564039933351/Turning-Smallness-into-Uniqueness-Six-Key-Challenges-to-Unlock-Sao-Tome-and-Principe-Growth-s-Potential-Summary-Report
dc.identifier.uri
http://hdl.handle.net/10986/32143
dc.language
English
dc.publisher
World Bank, Washington, DC
dc.rights
CC BY 3.0 IGO
dc.rights.holder
World Bank
dc.rights.uri
http://creativecommons.org/licenses/by/3.0/igo
dc.subject
DEVELOPMENT CHALLENGES
dc.subject
SMALL ISLAND DEVELOPING STATES
dc.subject
CURRENT ACCOUNT
dc.subject
MACROECONOMIC MANAGEMENT
dc.subject
EXPORT DIVERSIFICATION
dc.subject
REVENUE MOBILIZATION
dc.subject
TRADE CONNECTIVITY
dc.subject
INFRASTRUCTURE
dc.subject
FINANCIAL INFRASTRUCTURE
dc.subject
FISHERIES
dc.subject
AGRICULTURE
dc.subject
TOURISM
dc.title
Turning Smallness into Uniqueness
en
dc.title.subtitle
Six Key Challenges to Unlock Sao Tome and Principe Growth’s Potential
en
dc.type
Report
en
okr.date.disclosure
2019-07-25
okr.doctype
Economic & Sector Work
okr.doctype
Economic & Sector Work :: Country Economic Memorandum
okr.docurl
http://documents.worldbank.org/curated/en/567101564039933351/Turning-Smallness-into-Uniqueness-Six-Key-Challenges-to-Unlock-Sao-Tome-and-Principe-Growth-s-Potential-Summary-Report
okr.googlescholar.linkpresent
yes
okr.identifier.externaldocumentum
090224b086f14701_1_0
okr.identifier.internaldocumentum
31276216
okr.identifier.report
139491
okr.imported
true
en
okr.language.supported
en
okr.pdfurl
http://documents.worldbank.org/curated/en/567101564039933351/pdf/Turning-Smallness-into-Uniqueness-Six-Key-Challenges-to-Unlock-Sao-Tome-and-Principe-Growth-s-Potential-Summary-Report.pdf
en
okr.region.administrative
Africa
okr.region.country
Sao Tome and Principe
okr.topic
Agriculture :: Fisheries & Aquaculture
okr.topic
Industry :: Accommodation & Tourism Industry
okr.topic
Industry :: Fishing Industry
okr.topic
International Economics and Trade :: Export Competitiveness
okr.topic
International Economics and Trade :: Trade Facilitation
okr.topic
International Economics and Trade :: Trade and Transport
okr.topic
Macroeconomics and Economic Growth :: Macroeconomic Management
okr.topic
Transport :: Airports and Air Services
okr.unit
EFI - AFR2 - MTIC - 2 (EA2M2)

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