Peru's economy is expected to grow close to the pre-pandemic pace in 2023-25, supported by higher exports and a gradual recovery of business confidence. However, a slow recovery in quality employment and...
Type: BriefReport#: 181317Date: April 1, 2023Author:
World Bank
Following a post-COVID rebound in 2021, growth moderated in 2022 and 2023 due to disruptions associated with the Russia’s invasion of Ukraine while government efforts to address security threats in the...
Type: BriefReport#: 181391Date: April 1, 2023Author:
World Bank
The economy is projected to grow by 2.8 percent in 2023, as economic conditions are expected to improve following a prolonged drought and rising commodity prices throughout 2022. Multiple shocks have contributed...
Type: BriefReport#: 181386Date: April 1, 2023Author:
World Bank
In Armenia, economic growth was 12.6 percent in 2022, much higher than initially expected, mainly due to significant increases in services and private consumption, fueled by strong inflows of migrants...
Type: BriefReport#: 181264Date: April 1, 2023Author:
World Bank
Türkiye’s economy grew by 5.6 percent in 2022 but has been losing momentum amidst a deteriorating external environment and heterodox monetary policies. Two devastating earthquakes struck on February 6,...
Type: BriefReport#: 181329Date: April 1, 2023Author:
World Bank
In Azerbaijan, economic growth was 4.6 percent in 2022, driven by non-energy sectors supported by recovering demand and fiscal expansion. Inflation accelerated sharply to 13.8 percent, driven by import...
Type: BriefReport#: 181266Date: April 1, 2023Author:
World Bank
Oil price booms have previously supported the Nigerian economy, but this has not been the case since 2021. Instead, macroeconomic stability has weakened amidst declining oil production, costly fuel subsidies,...
Type: BriefReport#: 181380Date: April 1, 2023Author:
World Bank
Real GDP is expected to fall in 2023 as the fiscal and monetary contraction in 2022 takes effect, resolving macroeconomic imbalances accumulated during the Covid-recovery. Inflation remains well above...
Type: BriefReport#: 181299Date: April 1, 2023Author:
World Bank
In Kyrgyz Republic, growth in 2022 was stronger than initially expected, driven by consumption, supported by remittance inflows, largely from Russia, and public investment. Inflation increased sharply,...
Type: BriefReport#: 181280Date: April 1, 2023Author:
World Bank
Robust tourism activity is expected to revive the economy with full recovery expected by 2024. Major risks to the outlook include natural disasters and international commodity price shocks. The government’s...
Type: BriefReport#: 181305Date: April 1, 2023Author:
World Bank
Algeria’s economy continued rebounding from the 2020 recession triggered by COVID-19. The country’s external and fiscal balances improved markedly in 2022, as hydrocarbon production and exports picked...
Type: BriefReport#: 181410Date: April 1, 2023Author:
World Bank
Growth is expected to slow to 4.3 percent in 2023 amid a substantial slowdown in external demand. Deeper slowdown in major economies, uncertainty surrounding inflation, and relatively high debt levels...
Type: BriefReport#: 181334Date: April 1, 2023Author:
World Bank
Economic conditions in Yemen remained highly volatile in 2022 due to both domestic and external drivers. Humanitarian needs worsened due to the economic effects of compounding crises, including Russia’s...
Type: BriefReport#: 181438Date: April 1, 2023Author:
World Bank
Growth remained strong in 2022 helped by a recovery in tourism, supporting robust fiscal results. As in other small open economies, a slowdown in external demand and further tightening of financing conditions...
Type: BriefReport#: 181301Date: April 1, 2023Author:
World Bank
After two consecutive years of virtual stagnation, CAR’s economy is estimated to have recorded zero growth in 2022 and is projected to grow at an average rate of 3.6 percent in 2023-25, allowing per capita...
Type: BriefReport#: 181353Date: April 1, 2023Author:
World Bank
Growth is estimated to have weakened in 2022, mainly due to natural disasters and the indirect effects of Russia’s invasion of Ukraine. Although growth is projected to recover to an average of 4.7 percent...
Type: BriefReport#: 181372Date: April 1, 2023Author:
World Bank
In Bangladesh, real GDP growth slowed in the first half of FY23, as inflation surged and external conditions deteriorated. Full year growth is projected to decelerate to 5.2 percent in FY23 from 7.1 percent...
Type: BriefReport#: 181425Date: April 1, 2023Author:
World Bank
GDP growth is projected to decelerate in 2023 despite a strong tourism season, as the solid post-pandemic recovery phase comes to an end and a sizeable drought affects primary production and related activities....
Type: BriefReport#: 181321Date: April 1, 2023Author:
World Bank
In 2022, growth is estimated at 5.2 percent, up from 2.4 percent in 2021, driven by gold production and an exceptional agricultural output. The sharp increase in food and energy prices led to a deterioration...
Type: BriefReport#: 181375Date: April 1, 2023Author:
World Bank
In Belarus, real output dropped by 4.7 percent in 2022 after 2.4 percent growth the year before, largely due to an adverse impact of sanctions. Households’ real income declined. As the economy was adjusting...
Type: BriefReport#: 181268Date: April 1, 2023Author:
World Bank
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