Growth accelerated to 5.1 percent in 2023 supported by strong domestic and external demand. Adequate monetary policy and lower international prices helped dissipate inflationary pressures, allowing for...
Type: BriefReport#: 188899Date: April 3, 2024Author:
World Bank
GDP growth in Nicaragua is estimated at 4.3 percent in 2023, supported by a steep increase in remittances and foreign direct investment. Growth will be sustained over the medium term, though at a slightly...
Type: BriefReport#: 188911Date: April 3, 2024Author:
World Bank
In 2023, the economy expanded by 4.3 percent, largely driven by a strong recovery in tourism. Fiscal and current account deficits narrowed significantly; the unemployment rate declined but remains high...
Type: BriefReport#: 188892Date: April 3, 2024Author:
World Bank
Algeria’s growth remained robust in2023 and, although lower hydrocarbon prices narrowed the current account surplus from its 2022 peak, the rebuilding of official reserves continued. Lower hydrocarbon...
Type: BriefReport#: 188932Date: April 3, 2024Author:
World Bank
Economic growth is projected to slow to3.4 percent in 2024 before regainingmomentum in subsequent years, drivenby new oil production coming online.Inflation is expected to decrease but remainabove the...
Type: BriefReport#: 188877Date: April 3, 2024Author:
World Bank
Iran’s economy is continuing its oil-driven growth in 2023-2024, helping employment to return to pre-pandemic levels. Inflation remained elevated despite tighter monetary policy, in part due to inflationary...
Type: BriefReport#: 188937Date: April 3, 2024Author:
World Bank
Chile’s sound macroeconomic policies led to a recovery from Covid-induced imbalances, including high deficits and inflation. Fiscal and monetary tightening stabilized the economy but stunted 2023 growth....
Type: BriefReport#: 188897Date: April 3, 2024Author:
World Bank
Subsequent OPEC+ decisions of cutting oil production is adversely affecting Saudi Arabia’s overall GDP, fiscal, and external balance positions. Meanwhile, the performance of non-oil private sector is robust...
Type: BriefReport#: 188947Date: April 3, 2024Author:
World Bank
The Dominican economy is poised for a rebound in 2024, with an expected growth rate of 5.1 percent, fueled by the delayed impacts of monetary easing and increased public investment. Unemployment has decreased,...
Type: BriefReport#: 188901Date: April 3, 2024Author:
World Bank
Economic growth is expected to reach 3.5 percent in 2024, supported by tourismand the rebuilding of infrastructuredamaged by extremeweatherandthe blast atanexplosives depot in 2023. Despite these shocks,...
Type: BriefReport#: 189007Date: April 3, 2024Author:
World Bank
In Q4 2023, Lebanon was hit by yet another large shock: the spillover effects from the conflict in the Middle East centered in Gaza. The escalation in military confrontation in southern Lebanon has caused...
Type: BriefReport#: 188941Date: April 3, 2024Author:
World Bank
Ghana’s economic conditions improved in 2023 but challenges remain, notably elevated inflation, subdued growth, and substantial pressure on public finances and debt sustainability. These lingering challenges...
Type: BriefReport#: 188988Date: April 3, 2024Author:
World Bank
The 2023 Niger border closure, policy changes in Nigeria and climate shocks moderated growth to 5.8 percent. The international poverty measure fell to 11.7 percent. A revenue based fiscal consolidation...
Type: BriefReport#: 188969Date: April 3, 2024Author:
World Bank
Algeria’s growth remained robust in2023 and, although lower hydrocarbon prices narrowed the current account surplus from its 2022 peak, the rebuilding of official reserves continued. Lower hydrocarbon...
Type: BriefReport#: 188932Date: April 3, 2024Author:
World Bank
Iraq’s economy contracted in 2023 due to OPEC+ production cuts that more than off-set a non-oil sector rebound. A sharp fiscal expansion is fueling consumption but weighs on fiscal and external balances,...
Type: BriefReport#: 188938Date: April 3, 2024Author:
World Bank
Output grew by 4.5 percent in FY22/23 and growth rate is projected to increase in the medium term, due to recovery in industry and services sectors. Fiscal deficit is anticipated to increase in FY23/24...
Type: BriefReport#: 188961Date: April 3, 2024Author:
World Bank
GDP growth is projected to increase from 1.9 percent in FY23 to 3.3 percent in FY24, driven by revived tourism and improved electricity generation. Decreased expenditure is anticipated to trim the fiscal...
Type: BriefReport#: 188964Date: April 3, 2024Author:
World Bank
In 2023, economic growth rebounded to 2.7 percent from 1.8 percent in 2022, spurred by robust agricultural production. However, inflation spiked, then moderated late in the year. Poverty rate would remain...
Type: BriefReport#: 188972Date: April 3, 2024Author:
World Bank
Tunisia’s economic outlook remains highly uncertain. Tunisia’s already timid post- Covid economic recovery came almost to a halt in 2023 amid a severe drought and difficult financing conditions. Authorities...
Type: BriefReport#: 188949Date: April 3, 2024Author:
World Bank
The UAE maintains its status as a key regional hub for trade, finance, and tourism, bolstered by substantial progresses in economic diversification and a reduced dependence on hydrocarbon income. Economic...
Type: BriefReport#: 188950Date: April 3, 2024Author:
World Bank
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