COOK ISLANDS GROWTH DOUBLES TAX REVENUE

RAROTONGA, Cook Islands (Radio Australia, Jan. 29) - Cook Islands has reported a 1.5 percent increase in economic growth.

Finance Secretary Kevin Carr said the main areas of economic activity are tourism, the pearl industry and the fishing sector. He said the increased economic activity has nearly doubled tax revenues in the past five years.

He says he's optimistic Cook Islands can achieve economic growth of 3.2 percent a year in the long-term, subject to world events.

He says a war against Iraq could have an adverse impact on world prices and tourism.

January 29, 2003

Radio Australia: www.abc.net.au

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