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
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
Following the strong performance in 2022, economic growth is expected to taper off in 2023 driven by stagnant oil production, as part of OPEC+ agreed production schedule. Inflation remains contained supported...
Type: BriefReport#: 181434Date: 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
GDP growth slowed to 2.5 percent in 2022 (-0.1 percent per capita) as insecurity led to the closure of several gold mines and high food prices drove inflation to a region-high 14.1 percent; poverty incidence...
Type: BriefReport#: 181349Date: April 1, 2023Author:
World Bank
Growth rebounded to 15 percent in 2022, with real per capita incomes surpassing pre-pandemic levels, driven by the recovery of tourism. Russia’s invasion of Ukraine intensified inflation pressures, which...
Type: BriefReport#: 181351Date: April 1, 2023Author:
World Bank
GDP growth slowed to 2.5 percent in 2022 (-0.1 percent per capita) as insecurity led to the closure of several gold mines and high food prices drove inflation to a region-high 14.1 percent; poverty incidence...
Type: BriefReport#: 181349Date: 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
Ghana is in a deep macroeconomic crisis. Public debt is being restructured to restore fiscal and debt sustainability, growth has slowed down considerably, inflation is exceptionally high, the cedi has...
Type: BriefReport#: 181366Date: April 1, 2023Author:
World Bank
Botswana’s economy grew strongly, by 6.5 percent in 2022 supported by favorable external demand for diamonds. Growth is expected to slow and average 4.0 percent over 2023-25. The outlook relies on robust...
Type: BriefReport#: 181348Date: April 1, 2023Author:
World Bank
Economic growth is estimated at 1.8 percent in 2022, a slight deceleration over 2021, driven by industry and services. Agriculture contracted due to insufficient rainfall and delays in fertilizer distribution....
Type: BriefReport#: 181350Date: 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
The 2021 strong growth rebound continued in 2022 (10.5 percent), supported by a recovery in wholesale and retail commerce, transport, storage and communications, and construction. However, government cash...
Type: BriefReport#: 181315Date: April 1, 2023Author:
World Bank
Real GDP growth is estimated to have slowed to 3.4 percent in 2022 on the back of worsening agriculture conditions and macroeconomic instability. Annual inflation returned to triple digit levels in 2022,...
Type: BriefReport#: 181394Date: April 1, 2023Author:
World Bank
In Kazakhstan, the economy grew by 3.2 percent in 2022. However, a surge in inflation has squeezed the real incomes of low-income households and could undermine efforts to reduce poverty. Inflation is...
Type: BriefReport#: 181278Date: April 1, 2023Author:
World Bank
In Albania, growth in 2022 is estimated at 3.5 percent, as private consumption, exports, and investment expanded, despite increasing energy and food prices. Growth is expected to remain subdued for 2023....
Type: BriefReport#: 181263Date: April 1, 2023Author:
World Bank
Uganda’s economy is expected to grow above 5 percent in FY23, as investment picks momentum, supported by lower inflationary pressures and easier monetary policy. Reducing the fiscal deficit to 3.5 percent...
Type: BriefReport#: 181392Date: 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
A rebased GDP and the methodological changes to tourism’s contribution, indicated growth was 8.8 percent in 2022, and will moderate to 3.8 percent in 2023, driven by tourism and fisheries, household consumption,...
Type: BriefReport#: 181384Date: April 1, 2023Author:
World Bank
GDP growth is projected to decelerate in 2023 despite a strong tourism season, as the solid post-pandemic recovery phase comes to an end and a sizeable drought affects primary production and related activities....
Type: BriefReport#: 181321Date: April 1, 2023Author:
World Bank
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