The economies of Kiribati and Tuvalu are expected to recover in 2023 after the border closures of 2022. In Nauru, however, growth is expected to moderate due to changes to its Regional Processing Centre....
Type: BriefReport#: 181291Date: April 1, 2023Author:
World Bank
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
The World Bank Group’s collaborations with the humanitarian and development partners on food and nutrition security have culminated in the establishment of the Global Alliance for Food Security (GAFS)....
Type: BriefReport#: 182181Date: 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
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
In Bhutan, output is estimated to have grown by 4.3 percent in FY21-22, after two years of economic contraction. The COVID-19 pandemic and Russia’s invasion of Ukraine resulted in a significant deterioration...
Type: BriefReport#: 181426Date: 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
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
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