The Comoros’ recovery has been hindered by Russia’s invasion of Ukraine. For the fourth consecutive year, growth remained below pre-Cyclone Kenneth levels. Low-income households have been affected by rising...
Type: BriefReport#: 181355Date: April 1, 2023Author:
World Bank
Strong agriculture and services output resulted in higher-than-expected GDP growth estimated at 6.4 percent in FY22. But growth remains lower than pre-COVID-19 levels and the economy remains vulnerable...
Type: BriefReport#: 181362Date: April 1, 2023Author:
World Bank
Russia's economy contracted by only 2.1 percent in 2022, in the face of severe sanctions, and is expected to contract by a further 0.2 percent in 2023. Sanctions will lower oil production, reducing the...
Type: BriefReport#: 181326Date: April 1, 2023Author:
World Bank
India has been one of the fastest-growing major economies in the world, but growth in FY23-24 will moderate on the back of global spillovers and slower consumption growth. Lower demand-pull pressures and...
Type: BriefReport#: 181428Date: April 1, 2023Author:
World Bank
After a strong recovery in 2021, GDP grew by only 2 percent in 2022, supported by a favorable global environment but constrained by domestic challenges, especially the electricity crisis and transport...
Type: BriefReport#: 181387Date: 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
In Bosnia and Herzegovina, real output growth decelerated to 4 percent in 2022 from 7.4 percent the year before largely due to an adverse term of trade shock. The shock accelerated inflation to 14 percent...
Type: BriefReport#: 181271Date: April 1, 2023Author:
World Bank
Poland’s GDP grew by 4.9 percent in 2022 but high inflation, policy uncertainties, tighter financing conditions, and an unwinding of the inventory cycle will weigh on growth in 2023. The Russian invasion...
Type: BriefReport#: 181324Date: April 1, 2023Author:
World Bank
Growth is expected to decelerate to 4.7 percent in 2023 from 8.3 percent in 2022, negatively impacted by lower global demand. Inflation will begin to ease after reaching 10.8 percent in 2022, the highest...
Type: BriefReport#: 181376Date: April 1, 2023Author:
World Bank
Real GDP growth is estimated to have slowed to 3.4 percent in 2022 on the back of worsening agriculture conditions and macroeconomic instability. Annual inflation returned to triple digit levels in 2022,...
Type: BriefReport#: 181394Date: 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
Real GDP growth in Croatia remained strong in 2022, with favorable developments concentrated in the first half of the year. The country is expected to avoid contraction in 2023 but growth is set to be...
Type: BriefReport#: 181274Date: April 1, 2023Author:
World Bank
The October 2021 military takeover weakened domestic activity, slowing progress toward debt relief as part of the heavily indebted poor countries initiative. Despite food insecurity, floods, higher input...
Type: BriefReport#: 181389Date: 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
Boosted by the mining sector, Namibia’s economy expanded by 3.5 percent in 2022. In 2023, the economic recovery is expected to continue at a slower pace amid negative spillovers from Russia’s invasion...
Type: BriefReport#: 181378Date: 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
The Lebanese economy remains in a severe depression amidst continued political deadlock, an institutional vacuum, and high uncertainty. In a context lacking agreement on a comprehensive crisis resolution...
Type: BriefReport#: 181419Date: April 1, 2023Author:
World Bank
Vietnam’s economy grew by 8.0 percent in 2022, mainly due to low base effects. In 2023, the economy is expected to grow by 6.3 percent, as domestic demand normalizes after the 2022 post-COVID recovery...
Type: BriefReport#: 181344Date: April 1, 2023Author:
World Bank
Inflation is eroding incomes and constraining business activity. Growth is expected to decline to 4.0 percent in FY23 from 6.6 percent in FY22. Improvements in reserves reflect increases in tourism, Suez...
Type: BriefReport#: 181413Date: April 1, 2023Author:
World Bank
The United Arab Emirate (UAE’s) post-pandemic rebound continued strongly in 2022 supported by domestic and global oil demand. Growth is projected to slow in 2023 to reflect global economic downturn and...
Type: BriefReport#: 181437Date: April 1, 2023Author:
World Bank
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