Yearbook 2006
Micronesia Federation. In August, the US government's
representative for contacts with Micronesia urged the country to
promote growth before the free association agreement expires
in 2023. The agreement provides Micronesia with significant
financial assistance from the United States each year. At a
meeting on the appropriations, US Representative David Cohen
said that Micronesia with even today's support has not been able to
achieve economic growth. He recalled that the appropriations
will be significantly smaller after 2023, arguing that the
country must first and foremost invest in the private sector
to boost growth. According to
CountryAAH, Micronesia is today completely dominated by the
public sector. Micronesian MPs had previously complained
that the United States was reducing their power and that the
US committee responsible for the money for Micronesia was in the
country's budget at the retail level. Cohen, who chairs the
committee.
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