After its worst economic crisis in 100 years, Latin America and the Caribbean countries are emerging from the COVID-19 pandemic. The need to recover dynamic, inclusive, and sustainable growth to redress both the legacy of the pandemic and long-standing social needs has never been more acute....

The aim of this note is to present and analyze subnational fiscal trends in Russia in the context of overall slowing economic growth and falling oil prices over the last few years. In particular, in 2015, GDP fell by 3.7 percent. Despite efforts to cut expenditures, the federal deficit increased...

The economy has shown resilience to recent global shocks thus far, with output surpassing its pre-pandemic level in 2022 Q3, earlier than expected but trailing behind peers. Thailand's economic recovery, however, lagged that of its ASEAN peers, most of which returned to pre-pandemic levels by...

Despite persistent macroeconomic instability, economic growth continued to recover in 2023, underpinned largely by a steady improvement in the service sector. GDP growth is forecast at 3.7 percent in 2023, slightly down from the projection in May 2023, primarily reflecting higher-than-expected...

Sao Tome and Principe (STP), a small island nation of 215,000 people in the Gulf of Guinea off the coast of Central Africa, is in many ways a country of great untapped wealth. One of Africa's least known countries, its striking volcanic landscape is home to virgin rainforests with rich...

This report, initiated at the request of His Excellency President Alassane Ouattara to Hafez M. H. Ghanem, the World Bank Group Regional Vice President for Eastern and Southern Africa, is the first country application of the new regional strategy, Supporting Africa's Transformation. Albert...

China's recovery has broadened as economic activity has continued to normalize. Economic growth in China is projected to reach 8.5 percent this year before slowing to 5.4 percent in 2022, as low base effects dissipate and the economy returns to trend growth. As China's recovery firms up,...

The Latin America and the Caribbean region is consolidating its recovery from the COVID-19 crisis, but the road ahead poses challenges: The damage inflicted by the pandemic on education and poverty require redress; new variants may appear; rising global inflation presents new policy dilemmas;...

After the economic slowdown in 2020, Tajikistan's GDP grew at an annual rate of 8.7 percent in the first half of 2021. According to the Listening-to-Tajikistan (L2T) survey, the social and economic wellbeing of the population severely deteriorated following the outbreak of COVID-19...

Global growth is projected to be slightly faster in 2020 than the post-crisis low registered last year. While growth could be stronger if reduced trade tensions lead to a sustained reduction in uncertainty, the balance of risks to the outlook is to the downside. Growth in emerging market and...