SPC Grant of $80,000 awaits action by Congress: Household survey in the FSM on-going

FSMIS (November 8, 2013): A grant in the amount of $80,000 from the Secretariat of the Pacific Community (SPC) has been transmitted to the Federated States of Micronesia Congress for approval pursuant to certain provision of the FSM Code regarding the acceptance of financial assistance by foreign entities.

The grant will be used by the FSM Office of Statistics, Budget and Economic Management, Overseas Development Assistance and Compact Management (SBOC) according to an established Memorandum of Understanding between SBOC and the SPC.

The grant is intended to supplement funding for the on-going Household Income and Expenditure Survey (HIES) being conducted by SBOC with technical support and financial assistance from SPC, through the support of the Asian Development Bank.

The FSM Government is providing $225,000 toward the HIES survey, which has not been done since 2005.

Such survey is crucial in order to provide up to date information on the income earning and expenditure habit dynamics and other household statistics in the FSM to guide policy decision making as may be necessary in a more targeted manner.

The FSM Congress will have a special session beginning the last week of November. SBOC officials are stressing the urgency for Congress to consider the grant resolution during that session to enable its use according to timeframes set by the MoU, which was made available since the month of July.

For more information, call the Office of SBOC at 320-6260 or email fsmpio@mail.fm.