What is the real character of fiscal policy? Is it expansionary or restrictive? Is it pro-cyclical or does it have stabilization effects? Policymakers and economic analysts need to be able to ascertain fiscal policy effort. As the actual budget balances are affected both by cyclical factors and...

The Thai economy shows signs of a nascent recovery but faces challenges on the path toward a broad-based and sustained recovery. The Thai economy accelerated to 2.8 percent in 2015, compared to 0.9 percent in 2014, partly on the basis of government consumption and investment, and partly on...

Following the partial lifting of nuclear-related sanctions in November 2013 under the interim Joint Plan of Action (JPOA), Iran's economy rebounded in 20141 and is estimated to have expanded by 0.5 percent in 2015. A less accommodative monetary policy stance reduced inflationary pressures, with...

The Lao economy is estimated to have expanded by around 7 percent in 2015, a slight moderation from 7.5 percent in 2014. Similar to the last decade, the resource sectors (hydropower and extractives) continued to make an important contribution to growth. Power generation got a boost from the...

This report consists of two parts: Part 1 presents a review of recent economic developments and a macroeconomic outlook. Part 2 focuses in greater depth on a special, selected topic relevant to Malawi's development prospects. This report focuses on agricultural risk management. Malawi is now set...

Iraq is facing daunting challenges of Islamic State of Iraq and Syria (ISIS) insurgency, political upheaval, and profound economic and humanitarian crises. Compounding the ISIS-related crisis, the sharp decline in global oil prices has resulted in significant decline in oil export revenues....

The aim of the Malaysia Economic Monitor (MEM) is to foster better-informed policy analysis and debate regarding the key challenges that Malaysia faces in its endeavor to achieve rapid, inclusive and sustainable economic growth. The MEM consists of two parts: Part 1 presents a review of recent...

The country benefited from the improved external demand in 2017. Global growth is estimated to have picked up in 2017 to 3.0 percent from 2.4 percent in 2016, reflecting gradual recovery in the euro area, China, emerging Europe, and Russia as commodity prices and financial markets continued to...

The Iran Economic Monitor provides an update on key economic developments and policies over the past six months. It examines these economic developments and policies in a longer-term and global context, and assesses their implications for the outlook for the country. Its coverage has ranged from...

This second edition of the twice-yearly Gulf Economic Monitor describes recent economic developments, near-term prospects, and broader reform priorities in the Gulf Cooperation Council (GCC) countries (The Pulse of the Region). Regional aggregate GDP growth in 2017 weakened to just 0.5 percent,...