In Albania, a robust recovery took place in 2021thanks to policy stimulus and resurgence of travel, construction, and extractive activity. Private investment, consumption, and public spending drove growth,...
Type: BriefReport#: 170604Date: April 21, 2022Author:
World Bank
In Kazakhstan, Russia’s invasion of Ukraine is likely to reduce growth to 1.5 percent in 2022. This figure follows 4 percent growth in 2021, driven by a rebounding economy, consumption growth, and supportive...
Type: BriefReport#: 170612Date: April 21, 2022Author:
World Bank
Montenegro’s economic recovery in 2021 was robust, supported by tourism revival. The labor market also responded to economic recovery and the fiscal position significantly improved. Montenegro adopted...
Type: BriefReport#: 170617Date: April 21, 2022Author:
World Bank
The Serbian economy is recovering well from the impact of COVID-19 pandemic by growing 7.4 percent in 2021 and poverty incidence declined to an estimated 9.8 percent. Growth is expected to decelerate in...
Type: BriefReport#: 170622Date: April 21, 2022Author:
World Bank
In Uganda, real GDP growth is expected to rise from 3.4 percent in FY21 to 3.7 percent in FY22, as the economy reopens. The planned reduction in the fiscal deficit, to 3.5 percent of GDP by FY24, augurs...
Type: BriefReport#: 170921Date: April 21, 2022Author:
World Bank
After a successful vaccination campaign and a solid economic rebound, Ecuador is expected to continue its reform to secure fiscal sustainability and foster growth. The windfall oil revenues are likely...
Type: BriefReport#: 170640Date: April 21, 2022Author:
World Bank
Guyana's economy is expanding at an extraordinary rate, fueled primarily by the expansion of oil output. This is expected to continue over the medium term as more fields are added to production. Increasing...
Type: BriefReport#: 170644Date: April 21, 2022Author:
World Bank
Robust remittance inflows, a fiscal stimulus, and favorable commodity prices have been the main drivers of Nicaragua’s economic recovery following a three-year recession brought on by the 2018 sociopolitical...
Type: BriefReport#: 170649Date: April 21, 2022Author:
World Bank
Peru’s economy rebounded strongly in 2021, but poverty reduction was slowed by structural rigidities in the labor market and inflation. GDP growth is expected to return to its pre-pandemic trend of around...
Type: BriefReport#: 170652Date: April 21, 2022Author:
World Bank
After a steep economic contraction in 2020, Saint Lucia’s growth picked up in 2021 as tourism started to recover. Real GDP and poverty are projected to reach 2019 levels only by 2024. The pandemic also...
Type: BriefReport#: 170653Date: April 21, 2022Author:
World Bank
Uruguay’s GDP rebounded in 2021, reaching pre-crisis levels. The economic recovery and fiscal discipline helped reduce the fiscal deficit to below the 2019 level, despite additional COVID19 expenditures....
Type: BriefReport#: 170656Date: April 21, 2022Author:
World Bank
The withdrawal of COVID-19 movement restrictions facilitated Djibouti’s economic rebound in 2021, to an estimated 4.3 percent. Growth is projected to remain moderate in 2022 but to expand briskly thereafter...
Type: BriefReport#: 170706Date: April 21, 2022Author:
World Bank
In Bhutan, output is estimated to have contracted by 3.7 percent in FY20/21, with broad based contractions in the non-hydro industrial and services sector, reflecting COVID-19-related disruptions. The...
Type: BriefReport#: 170729Date: April 21, 2022Author:
World Bank
Increasing oil and gas demand and prices in Algeria led to a strong rebound in hydrocarbon production and exports in 2021, sharply reducing fiscal and external financing needs. The recovery in the non-hydrocarbon...
Type: BriefReport#: 170703Date: April 21, 2022Author:
World Bank
Iraq’s economy is gradually recovering from the twin shocks of the pandemic and collapse in oil prices in 2020.Both oil and non-oil growth are on track to reach their pre-pandemic levels as oil production...
Type: BriefReport#: 170709Date: April 21, 2022Author:
World Bank
Backed by a rebound of services and dynamic construction sector, real GDP growth in Benin is estimated to have reached 6.6 percent in 2021, in-line with pre-COVID trends. The fiscal deficit deteriorated...
Type: BriefReport#: 170529Date: April 21, 2022Author:
World Bank
In Chad, GDP contracted by 1.2 percent in 2021 (4.2 percent per capita) - the second consecutive year of recession – due to a temporary suspension of oil production, socio-political insecurity, and liquidity...
Type: BriefReport#: 170536Date: April 21, 2022Author:
World Bank
Economic growth in Ghana rebounded to 4.1 percent in 2021, but significant macroeconomic imbalances remain. The fiscal deficit and debt remained elevated, and inflation rose to double digits. Medium term...
Type: BriefReport#: 170894Date: April 21, 2022Author:
World Bank
An economic recovery started in 2021 but was interrupted in 2022 by the combined impact of a third wave of the pandemic, a series of climate shocks, and the escalating conflict in Ukraine. In this context,...
Type: BriefReport#: 170901Date: April 21, 2022Author:
World Bank
Two military coups in August 2020 and May 2021 and growing insecurity in Mali have resulted in a stagnant economy, with negligible per capita growth in 2021 and projected for 2022, exacerbated by food...
Type: BriefReport#: 170903Date: April 21, 2022Author:
World Bank
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