Pacific Economic Monitorwww.adb.org/pacmonitorDecember 2022The Future of Social Protection in the PacificAfter learning to live with the COVID- pandemic, the subregion must renew its focus on strengthening social protection systems to help build resilience to further shocks. Palauof households in Babeldaobof households in Koror-Airai %headed by senior citizens without incomesFederated States of Micronesiapurely for subsistence % %of households engaged in agricultural activities Limited coverage of social safety netsComprehensive development strategies for multisector social protection solutionsData-driven, targeted programs enable ecient spendingNauruBroaden protection of vulnerable groups­ . of people with a severe disability received a social protection benefit in

Early childhood development to build human capitalFiji: digital COVID- ­ payments Inclusive digital technology for better access to benefits and livelihood opportunities…†, ,­ WOMEN … Solomon Islands: youSave members increasedVanuatu: M-vatuRemittances (an informal safety net) increased between FY

–FY


TongaSamoa . % ˆ. %Kiribati†…% %Tuvalu† % %Average share of social protection spending in national budgetDomestic resource mobilization for reliable financingYouth employability, upskilling, and entrepreneurshipLow social protection spending by most Pacific governments 2 Highlights( ) = negative, FSM = Federated States of Micronesia, GDP = gross domestic product, p = projection.Notes: 1. Projections are as of December 2022 and refer to fiscal years. Fiscal years end on 30 June for the Cook Islands, Nauru, Niue, Samoa, and Tonga; 31 July for Fiji; 30 September for the Marshall Islands, the Federated States of Micronesia, and Palau; and 31 December elsewhere. 2. Subregional averages of GDP growth and inflation are computed using weights by purchasingpower parity (PPP) GDP in current international dollars.3. Averages for the Pacific islands exclude Papua New Guinea.Source: Asian Development Bank estimates. Asian Development Bank Projections Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO)© 2022 Asian Development Bank.Some rights reserved. Published in 2022.Printed in the Philippines.ISBN 978-92-9269-938-3 (print); 978-92-9269-939-0 (electronic); 978-92-9269-940-6 (ebook) ISSN 2521-6066 (print), 2521-6074 (electronic) Publication Stock No. SPR220568-2DOI: http://dx.doi.org/10.22617/SPR220568-2Asian Development BankPacific Economic Monitor, December 2022. Mandaluyong City, Philippines.This edition of the Monitor was prepared by Robert Boumphrey, Jacqueline Connell, Prince Cruz, Noel Del Castillo, Lily-Anne Homasi, Magdelyn Kuari, Ashish Narain, Remrick Patagan, Rommel Rabanal, Marcel Schroder, Cara Tinio, Isoa Wainiqolo, and James Webb of the Pacific Department. Publishing production assistance was provided by Cecil Caparas.The views expressed in this publication are those of the authors and do not necessarily reflect the views and policies of the Asian Development Bank (ADB) or its Board of Governors or the governments they represent. ADB does not guarantee the accuracy of the data included in this publication and accepts no responsibility for any consequence of their use. The mention of specific companies or products of manufacturers does not imply that they are endorsed or recommended by ADB in preference to others of a similar nature that are not mentioned.By making any designation of or reference to a particular territory or geographic area, or by using the term “country” in this publication, ADB does not intend to make any judgments as to the legal or other status of any territory or area.This work is available under the Creative Commons Attribution 3.0 IGO license (CC BY 3.0 IGO) https://creativecommons.org/licenses/by/3.0/igo/. By using the content of this publication, you agree to be bound by the terms of this license. For attribution, translations, adaptations, and permissions, please read the provisions and terms of use at https://www.adb.org/terms-use#openaccess.This CC license does not apply to non-ADB copyright materials in this publication. If the material is attributed to another source, please contact the copyright owner or publisher of that source for permission to reproduce it. ADB cannot be held liable for any claims that arise as a result of your use of the material.Change in consumer price index ( , annual average)GDP GrowthInflationppChange in real GDP ( )pp. . . . . . . . . . . . . . . . . . . . . (.)(.)(.)(.)(.)(.)...FijiCook IslandsPapua New GuineaTuvaluFSMVanuatuKiribatiNauruMarshall IslandsPalauTongaSolomon IslandsSamoa()()()ppPacific subregionPacific islands. . . . . . . . . . . . . . . . . . . . . . . . . .....PalauFSMSamoaTongaTuvaluPapua New GuineaKiribatiVanua