Robust terms of trade and private consumption boosted growth and reduced poverty in 2022. Elevated inflation triggered a cycle of monetary policy tightening. Commodity windfalls and subsidy adjustments...
Type: BriefReport#: 181332Date: April 1, 2023Author:
World Bank
The economy accelerated and reached the pre-COVID level in 2022, with support from both extractive and non-extractive sectors. High commodity prices contributed to a higher current account surplus and...
Type: BriefReport#: 181338Date: April 1, 2023Author:
World Bank
Lesotho’s economy expanded by a modest 1.8 percent in 2022 due to domestic political uncertainties and external shocks. GDP growth is projected to accelerate to about 2.3 percent in 2023, driven by the...
Type: BriefReport#: 181370Date: April 1, 2023Author:
World Bank
While Guatemala continued to grow above the LAC average in 2022, poverty is estimated to exceed pre-pandemic levels. External shocks affected its prudent macroeconomic policy, increasing inflation and...
Type: BriefReport#: 181308Date: April 1, 2023Author:
World Bank
GDP contracted by 1.7 percent in 2022, amid a lingering political crisis and gang violence that curtailed economic activity. Recent gains in human capital accumulation have been reversed due to extended...
Type: BriefReport#: 181310Date: 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
A severe drought depressed growth in 2022. This, combined with high inflation, is estimated to have increased extreme poverty. As weather conditions normalize, the economy is expected to rebound by 4.8...
Type: BriefReport#: 181316Date: April 1, 2023Author:
World Bank
Real GDP growth is expected to slow to 1.5 percent in 2023 due to continued policy tightening and external headwinds, converging to 2.0 percent by 2025.Mexico faces risks of more persistent inflation,...
Type: BriefReport#: 181313Date: April 1, 2023Author:
World Bank
Gabon’s economy rebounded in 2022, supported by good performances in sectors such as oil, manganese, and wood. High commodity prices contributed to fiscal and current account surpluses, and to a declining...
Type: BriefReport#: 181363Date: April 1, 2023Author:
World Bank
Challenges in agriculture, mining, and construction slowed economic growth to 3.9 percent in 2022 after the post-pandemic rebound in 2021. Strong momentum in services, continued government commitment to...
Type: BriefReport#: 181393Date: April 1, 2023Author:
World Bank
In North Macedonia, despite brisk post-pandemic recovery, the energy crisis depressed growth and pushed inflation to a two-decade high, stretching public finances amidst a rise in borrowing costs. Government...
Type: BriefReport#: 181283Date: April 1, 2023Author:
World Bank
Sierra Leone’s post-pandemic recovery was disrupted by concurrent domestic and external shocks, as global spillovers from Russia’s invasion of Ukraine exacerbated existing macro-fiscal vulnerabilities....
Type: BriefReport#: 181385Date: April 1, 2023Author:
World Bank
STP has faced severe macroeconomic imbalances. Growth stagnated amid successive shocks, most recently the impact of Russia’s invasion of Ukraine, and recurrent energy crisis. Inflation spiked to 25 percent...
Type: BriefReport#: 181382Date: April 1, 2023Author:
World Bank
Rwanda’s economy has shown some resilience in 2022 growing about 8 percent, mainly driven by the recovery in tourism related sectors. However, high inflation pressures posed some risks to vulnerable households....
Type: BriefReport#: 181381Date: April 1, 2023Author:
World Bank
Growth slowed to 4.2 percent in 2022, from 6.5 percent in 2021, alongside soaring food and energy prices stemming from Russia’s invasion of Ukraine. The fiscal deficit and debt levels remained elevated,...
Type: BriefReport#: 181383Date: April 1, 2023Author:
World Bank
With lower agricultural output, erratic electricity supply, forex shortages affecting importation of raw materials and high global commodity prices, GDP growth declined to 0.9 percent in 2022. Economic...
Type: BriefReport#: 181373Date: April 1, 2023Author:
World Bank
Tanzania’s economy has maintained its growth momentum, expanding by 4.6 percent in 2022, up from 4.3 percent in 2021. GDP per capita rose by 1.4 percent in 2022 and the international poverty rate dropped...
Type: BriefReport#: 181390Date: April 1, 2023Author:
World Bank
This brief discusses the economic development of Vietnam for the month of April 2023. Vietnam’s economy slowed to 3.3 percent (y/y) in Q1-2023 compared to 5.9 percent (y/y) in Q4-2022, largely due to a...
Type: BriefReport#: 181451Date: April 1, 2023Author:
World Bank
The economy accelerated and reached the pre-COVID level in 2022, with support from both extractive and non-extractive sectors. High commodity prices contributed to a higher current account surplus and...
Type: BriefReport#: 181338Date: April 1, 2023Author:
World Bank
Robust tourism activity is expected to revive the economy with full recovery expected by 2024. Major risks to the outlook include natural disasters and international commodity price shocks. The government’s...
Type: BriefReport#: 181305Date: April 1, 2023Author:
World Bank
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