Global Gas Flaring Falls to Lowest Level Since 2010
Progress in reducing gas flaring resumed in 2022, with gas flared worldwide falling by 5 billion cubic meters (bcm) to 139 bcm, its lowest level since 2010, according to new satellite data compiled by the World Bank's Global Gas Flaring Reduction Partnership (GGFR). Three countries, Nigeria, Mexico, and the United States, accounted for most of the decline in global gas flaring in 2022. Two other countries—Kazakhstan and Colombia— stand out for consistently reducing flaring volumes in the last seven years.
Latest Food Security Update
Our latest update from March 23 shows that domestic food price inflation remains high in almost all low-, middle-, and high-income countries. Since the last update on March 9, 2023, the agricultural, cereal, and export price indices closed 3 percent, 2 percent, and 2 percent lower, respectively.
Global Economy’s “Speed Limit” Set to Fall to Three-Decade Low
The global economy’s “speed limit”—the maximum long-term rate at which it can grow without sparking inflation—is set to slump to a three-decade low by 2030. A World Bank report—Falling Long-Term Growth Prospects: Trends, Expectations, and Policies—shows that an ambitious policy push can boost productivity, ramp up investment, and harness the potential of the services sector.
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