Nigeria has initiated bold reforms to restore macroeconomic stability, but further efforts are needed. The Government has moved forward on normalization of monetary policy, revenue-driven fiscal consolidation,...
Type: BriefReport#: 189003Date: April 3, 2024Author:
World Bank
Gabon’s economy grew by 2.3 percent in 2023 on the back of sustained oil production, down from 3.0 percent in 2022. Following a coup d’état in August 2023, an orderly return to an elected government over...
Type: BriefReport#: 188986Date: April 3, 2024Author:
World Bank
Real GDP is projected to grow by 4.1 percent in 2024, driven by continued increase in public spending financed by higher Southern African Customs Union (SACU) revenues. Despite easing global inflationary...
Type: BriefReport#: 188984Date: April 3, 2024Author:
World Bank
Crisis in the electricity sector and uncertainty in external concessional financing pushed the economy into recession. GDP is estimated to have contracted by 0.5 percent. Poverty rate is estimated at 15.8...
Type: BriefReport#: 189005Date: April 3, 2024Author:
World Bank
In 2023, lower oil production and an exchange rate shock led to economic stagnation. The May-June currency slide continues to fuel inflationary pressures. Lower tax revenues, larger interest payments and...
Type: BriefReport#: 188968Date: April 3, 2024Author:
World Bank
GDP growth is estimated at 3.2 percent (0.5 percent per capita) in 2023, supported by services, while mining was hampered by insecurity. Average inflation subsided to 0.7 percent, facilitating a small...
Type: BriefReport#: 188971Date: April 3, 2024Author:
World Bank
Guyana emerged as one of the world's fastest-growing economies following the development of its oil and gas (O&G) sector. In light of the substantial oil revenues, the government is implementing an ambitious...
Type: BriefReport#: 188906Date: April 3, 2024Author:
World Bank
Notwithstanding the advancement of the diversification agenda, hydrocarbon revenues still account for more than 60 percent of total budget revenues which exposes the economy to the volatility of energy...
Type: BriefReport#: 188933Date: April 3, 2024Author:
World Bank
Economic growth is slowing, despite rising tourist arrivals. Large external imbalances, combined with external financing gaps have led to declining foreign exchange reserves and substantial liquidity pressures....
Type: BriefReport#: 188963Date: April 3, 2024Author:
World Bank
Notwithstanding its large hydrocarbon resources and associated liquefied natural gas (LNG) revenues, Qatar is pursuing a long-term strategy focused on economic diversification. Growth in tourism, new infrastructure...
Type: BriefReport#: 188946Date: April 3, 2024Author:
World Bank
Amid the blockade of the IRG’s oil exports by the Houthis and conflict in the Middle East, Yemen navigates between glimpses of hope and a grim reality. The national economic rebound in 2022 was short-lived,...
Type: BriefReport#: 188952Date: April 3, 2024Author:
World Bank
Despite some recovery, Pakistan’s economy remains under stress with low foreign reserves and high inflation. Policy uncertainty remains elevated and economic activity is subdued, reflecting tight fiscal...
Type: BriefReport#: 188965Date: April 3, 2024Author:
World Bank
Driven by the drop in exports, real outputgrowth halved to 1.9 percent in2023 compared to the previous year.Slower private consumption helped reinin inflation, which stood at 6.1 percentin 2023 as food...
Type: BriefReport#: 188873Date: April 3, 2024Author:
World Bank
Tajikistan's economy grew at a blistering pace of 8.3 percent in 2023, fueled by private consumption and exports of precious metals. The outlook remains robust for2024, supported by private consumption...
Type: BriefReport#: 188887Date: April 3, 2024Author:
World Bank
Tajikistan's economy grew at a blistering pace of 8.3 percent in 2023, fueled by private consumption and exports of precious metals. The outlook remains robust for2024, supported by private consumption...
Type: BriefReport#: 188887Date: April 3, 2024Author:
World Bank
The Romanian economy grew by 2.1 percentin 2023, supported by EU-financedinvestment and resilient consumption.Successful issuance of the first publicgreen bond in February 2024 will supportthe green transition....
Type: BriefReport#: 188884Date: April 3, 2024Author:
World Bank
Weak cashew export performance and high inflation kept growth at 4.2 percent in 2023, undermining poverty reduction. Budget slippages and lower revenues derailed fiscal consolidation efforts while infrastructure...
Type: BriefReport#: 188990Date: April 3, 2024Author:
World Bank
Saint Lucia’s economy, heavily reliant on tourism and imports, was hit hard by the pandemic and price increases of imported food and fuel. This resulted in soaring public debt and debt service, limiting...
Type: BriefReport#: 188915Date: April 3, 2024Author:
World Bank
Growth was strong in 2023, supported by a strong recovery in tourism, agricultural production, and publicly financed largescale infrastructure projects. The risk of debt distress remains high. Fiscal support...
Type: BriefReport#: 188916Date: April 3, 2024Author:
World Bank
Viet Nam’s real GDP is expected to grow by 5.5 percent in 2024. Poverty is expected to decline from 3.9 percent in 2023 to 3.6 percent in 2024. Downside risks to growth include slower-than-expected growth...
Type: BriefReport#: 188858Date: April 3, 2024Author:
World Bank
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