MEDIA RELEASE President backs Peters economy comments_20Aug2026
REPUBLIC OF
NAOERO
Government
Information Office
MEDIA
RELEASE
For Immediate Release
Thursday, 20 August 2026
President backs Winston
Peters economy comments as Naoero's economic progress is called
world's best
As the region prepares for the
upcoming Pacific Islands Forum Leaders Meeting in Palau, President
David Adeang has supported a call from New Zealand Foreign Affairs
Minister Winston Peters for Pacific leaders to shift their focus
from aid to strengthening their own economies.
Mr Peters told Pacific Mornings that
stronger economies are vital if island countries are to have more
control over their future.
He said, "I go to ASEAN, and it's all
about the economy, the economy, economy, economy. I go to the
Pacific, it's all about aid."
President Adeang said his Government
had been pursuing that approach since he was elected in 2023 and
its long-term economic strategy is delivering strong
results.
He said the progress has been driven
by bold thinking, innovation, close friendships with Australia,
China, and ADB, and long-term planning to create a stronger
future.
"From the outset we said that our
future will not be defined by the UN's ranking of Naoero as the
world's fifth most vulnerable nation to economic and climate
shock."
Naoero's success has now been hailed
in a recently published analysis by Australian National
University's director of the Development Policy Centre, Professor
Stephen Howes.
Professor Howes highlighted Naoero's
economic transformation over the past decade, noting strong growth
in national income, increased employment and the success of new
sources of foreign income in supporting the nation's
development.
He noted that Naoero experienced
average annual growth in national income of 4.9 per cent per person
between 2009 and 2024. With major advances coming in the years
President Adeang served as finance minister, Naoero is once again
soon to be classified as a high-income country by the
OECD.
His report also highlighted major
economic improvements between the 2011 and 2021 censuses, including
a 36 per cent increase in jobs for men, a 74 per cent increase in
jobs for women, and employment growth from 47 per cent to 64 per
cent of the population.
In the report, Professor Howes noted
the available economic indicators suggest Naoero's strong economic
performance has continued beyond the 2021 Census.
"While the 2021 census data is now a
bit old, there is no sign of Naoero's boom having ended," Professor
Howes wrote.
"If any other boom worldwide has
delivered similarly stunning results in such a short period, I am
not aware of it."
Reflecting on Naoero's economic
recovery journey, President Adeang has previously highlighted the
importance of transparency, trust and working closely with
communities.
He said dei-Naoero understood the
importance of the Intergenerational Trust Fund which was securing
the financial future for generations to come, and are embracing
initiatives like advances in crypto, the citizenship program, new
fishing initiatives and third-party resettlement arrangements with
Australia.
"We are succeeding because we were
transparent, because we spoke directly with our people, and because
they trust that the sacrifices were for Naoero's future," he
said.
President Adeang said those same
values continue to guide the government's approach to leadership
and nation building.
"Faith, family, and community remain
our compass. Leadership means keeping community relationships close
and never forgetting who we serve."