Amid persistent macroeconomic instability, the economic recovery will be gradual and remain vulnerable to further shocks. Economic growth is expected to reach 3.9 percent in 2023, mostly driven by the...
Type: BriefReport#: 181333Date: April 1, 2023Author:
World Bank
The recovery is well underway owing to strong domestic pent-up demand following the reopening. However, fiscal, and monetary policy space has narrowed in recent years amid the pandemic and as global conditions...
Type: BriefReport#: 181339Date: April 1, 2023Author:
World Bank
Economic recovery, supported by continued fiscal reforms, is expected to help Grenada return to the Fiscal Responsibility Act in 2023, after a three-year suspension. However, risks to the economic outlook...
Type: BriefReport#: 181307Date: 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
After a strong rebound in 2021, real growth moderated to 6 percent in 2022.Inflation remained subdued at 2.5 percent due to a strong harvest season and measures to partially offset import price pressure...
Type: BriefReport#: 181347Date: April 1, 2023Author:
World Bank
Despite an external debt restructuring in 2021, public debt remains high at 72.8 percent of GDP in 2022. Belize experienced a sound economic rebound, fueled by increased tourism arrivals and tourism-related...
Type: BriefReport#: 181295Date: April 1, 2023Author:
World Bank
In Afghanistan, after a severe contraction in the gross domestic product (GDP) of 20.7 percent in 2021, signs had emerged by mid-2022 that the Afghan economy was settling around a fragile low-level equilibrium....
Type: BriefReport#: 181423Date: April 1, 2023Author:
World Bank
Guyana has emerged as one of the world's fastest-growing economies with the development of its oil and gas sector. The government's aggressive investment program seeks to structurally transform the non-oil...
Type: BriefReport#: 181309Date: April 1, 2023Author:
World Bank
Guyana has emerged as one of the world's fastest-growing economies with the development of its oil and gas sector. The government's aggressive investment program seeks to structurally transform the non-oil...
Type: BriefReport#: 181309Date: April 1, 2023Author:
World Bank
Barbados’s economy is rebounding, benefiting from a return of tourists that allowed for an economic growth of 10.0 percent in 2022 and likely a poverty reduction. After a pandemic-related interruption,...
Type: BriefReport#: 181294Date: April 1, 2023Author:
World Bank
In Nepal, following GDP growth of 5.8 percent in FY22, import restrictions contributed to slower growth in the first half of FY23. The fiscal deficit has been held under 4 percent of GDP by sharply reducing...
Type: BriefReport#: 181430Date: 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
Following robust growth in 2022, the Bulgarian economy is set to slow down in line with EU trends. Inflation is expected to decelerate in 2023 but remain elevated. The fiscal position will likely worsen...
Type: BriefReport#: 181272Date: April 1, 2023Author:
World Bank
GDP growth fell to 1.8 percent in 2022 due to ECOWAS sanctions, high food inflation, and parasite infestations affecting cotton production. This led to negative per capita income growth, a 3.2 percentage...
Type: BriefReport#: 181374Date: April 1, 2023Author:
World Bank
Tajikistan’s economy grew by 8 percent in 2022, supported by strong remittance inflows amounting to over a third of GDP, largely from Russia. The short-term growth outlook is subject to significant downward...
Type: BriefReport#: 181328Date: April 1, 2023Author:
World Bank
Falling oil production will continue to drag on growth for a third consecutive year, although the pace of decline is lessening. Climate and external shocks, and declining official development assistance...
Type: BriefReport#: 181388Date: April 1, 2023Author:
World Bank
Saint Lucia’s economic growth accelerated further in 2022, due to a strong rebound in the tourism sector. However, inflation also picked up due to higher import prices, likely slowing gains in poverty...
Type: BriefReport#: 181318Date: April 1, 2023Author:
World Bank
Following robust growth in 2022, the Bulgarian economy is set to slow down in line with EU trends. Inflation is expected to decelerate in 2023 but remain elevated. The fiscal position will likely worsen...
Type: BriefReport#: 181272Date: April 1, 2023Author:
World Bank
Nicaragua’s economy expanded in 2022 supported by remittance-fueled private consumption, external demand, and higher prices of gold and agricultural exports. While partially offset by strong remittances,...
Type: BriefReport#: 181314Date: April 1, 2023Author:
World Bank
Equatorial Guinea’s economy expanded by an estimated 2.9 percent in 2022, driven by the rebound in the hydrocarbon sector. The fiscal and external balances improved thanks to an increase in oil production...
Type: BriefReport#: 181359Date: April 1, 2023Author:
World Bank
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