Cambodia’s economy continued to recover in 2022. The recovery of the services sector is strengthening, driven largely by pent-up consumer demand. Economic growth for 2023 is projected to reach 5.2 percent,...
Type: BriefReport#: 181290Date: April 1, 2023Author:
World Bank
Macroeconomic conditions in Myanmar remain constrained by weak demand, macroeconomic and regulatory uncertainty, ongoing electricity outages, and persistent conflict. Real gross domestic product (GDP)...
Type: BriefReport#: 181336Date: April 1, 2023Author:
World Bank
Chad’s economic recovery in 2022 was dampened by floods and insecurity; GDP growth was moderate at 2.2 percent (-0.9 percent in per capita terms), while poverty incidence increased by 2.4 percentage points....
Type: BriefReport#: 181354Date: April 1, 2023Author:
World Bank
Mining and the recovery of non-mining activity will boost growth to 5.6 percent in 2023, but poverty rates will increase, and the fiscal deficit widen to 2.6 percent of GDP as capital spending rises. Mining-related...
Type: BriefReport#: 181367Date: 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
GDP grew by an estimated 11 percent in 2022, slightly less than in 2021, but remains below its 2019 level. Growth was driven by the recovery of services, particularly by tourism. The fiscal accounts started...
Type: BriefReport#: 181293Date: April 1, 2023Author:
World Bank
In Maldives, the economy has recovered to pre-pandemic levels and, with rising tourist arrivals, is expected to maintain a strong growth and poverty reduction trajectory. Commodity price volatility is...
Type: BriefReport#: 181429Date: April 1, 2023Author:
World Bank
In Bangladesh, real GDP growth slowed in the first half of FY23, as inflation surged and external conditions deteriorated. Full year growth is projected to decelerate to 5.2 percent in FY23 from 7.1 percent...
Type: BriefReport#: 181425Date: April 1, 2023Author:
World Bank
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
GDP growth accelerated to 2.8 percent in 2022 due to a high carry-over from 2021 and as remittances and private consumption remained strong following significant improvements in security. While the fiscal...
Type: BriefReport#: 181306Date: April 1, 2023Author:
World Bank
Recent shocks undermined Cameroon’s real GDP growth in 2022 and fueled inflation, with adverse consequences on poverty. The medium-term outlook shows reduced fiscal and current account deficits, with growth...
Type: BriefReport#: 181352Date: 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
In Serbia, growth decelerated in the second half of the year to an average of 2.3 percent in 2022, largely driven by private consumption. However, real disposable incomes are shrinking with still rising...
Type: BriefReport#: 181327Date: April 1, 2023Author:
World Bank
Suriname’s economy started to recover in 2022 after two years of contraction. Significant challenges remain as the government tackles severe macroeconomic imbalances that built up due to volatility in...
Type: BriefReport#: 181320Date: 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
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
A combination of improving hydrocarbon sector outturns and growth in the non-oil sectors drives economic expansion in Iran. Water and electricity shortages, insufficient job creation, and high inflation...
Type: BriefReport#: 181414Date: 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 lingering impact of the 2021 riots along with a local outbreak of COVID-19 and Russia’s invasion of Ukraine resulted in a deep recession. However, the economy will start to recover in 2023 and 2024...
Type: BriefReport#: 181340Date: April 1, 2023Author:
World Bank
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