After rebounding to 2.9 percent in 2021, GDP growth moderated to 2.5 percent in 2022, impacted by sluggish global demand. A convergence to pre-pandemic growth trends over the medium term is anticipated,...
Type: BriefReport#: 181360Date: April 1, 2023Author:
World Bank
Liberia’s economy grew by 4.8 percent in 2022, following a strong rebound in 2021. Growth is expected to slow to 4.3 percent in 2023, reflecting global slowdown and uncertainties surrounding Russia’s invasion...
Type: BriefReport#: 181371Date: April 1, 2023Author:
World Bank
Pakistan’s economy is under stress with low foreign reserves and high inflation. Activity has fallen with policy tightening, flood impacts, import controls, high borrowing and fuel costs, low confidence,...
Type: BriefReport#: 181432Date: April 1, 2023Author:
World Bank
A severe drought will curtail growth in 2023, derailing reserve accumulation and fiscal revenues. Inflation has reached historical highs and continues to deter progress in poverty reduction. Growth is...
Type: BriefReport#: 181292Date: April 1, 2023Author:
World Bank
Poor cashew exports and high inflation slowed growth to 3.5 percent in 2022, causing the pace of poverty to increase. Salary overspending, energy costs and lower tax revenues limited fiscal consolidation...
Type: BriefReport#: 181368Date: April 1, 2023Author:
World Bank
Economic growth was steady at 4.3 percent in 2022, driven by improved agriculture production, public consumption, and infrastructure investments. Downside risks to the positive medium-term outlook stem...
Type: BriefReport#: 181365Date: April 1, 2023Author:
World Bank
Romania’s economic growth was robust in 2022 at 4.8 percent, driven by strong private consumption and a pick-up in investment. Economic prospects are moderated by the spillovers from Russia’s invasion...
Type: BriefReport#: 181325Date: April 1, 2023Author:
World Bank
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
GDP grew 4.9 percent in 2022 fueled by a recovery in tourism but is expected to cool down in 2023.TheCentral Bank proactively increased its monetary policy rate in 2022 to 8.5 percent in response to rising...
Type: BriefReport#: 181303Date: 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
Jamaica’s economy continues to recover from the record contraction of 2020. A track record of policy and institutional reforms to strengthen macroeconomic management in recent years allowed the government...
Type: BriefReport#: 181312Date: April 1, 2023Author:
World Bank
Pakistan’s economy is under stress with low foreign reserves and high inflation. Activity has fallen with policy tightening, flood impacts, import controls, high borrowing and fuel costs, low confidence,...
Type: BriefReport#: 181432Date: April 1, 2023Author:
World Bank
Although Ecuador has significantly reduced macroeconomic imbalances in recent years through a sustained fiscal consolidation and a series of trade surpluses. A polarized political and social context continues...
Type: BriefReport#: 181304Date: April 1, 2023Author:
World Bank
GDP grew 7.5 percent in 2022, with the economy operating above potential, inflation reaching 13.1 percent, and the current account deficit increasing to 6.2 percent of GDP. As the output gap closes, growth...
Type: BriefReport#: 181300Date: April 1, 2023Author:
World Bank
While economic activity had stabilized in mid-2022, attacks on Ukraine’s energy infrastructure starting in October have caused disruptions and undermined the recovery. GDP declined by 29.2 percent in 2022...
Type: BriefReport#: 181330Date: April 1, 2023Author:
World Bank
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
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