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...

In the years leading to the Coronavirus (COVID-19) outbreak, Liberia's economic performance was already weak. Since 2014 a series of severe shocks stopped in its track the growth momentum that had been spurred by the Accra Comprehensive Peace Agreement of 2003. The economy was buffeted by the...

This note will examine the distributional and efficiency issues associated with the fiscal response to the COVID-19 (coronavirus) crisis in Da Nang city and nationally in Vietnam. More specifically, we look at the social assistance (cash transfer) programs. Did these programs efficiently reach...

The national economy of Vietnam was affected by the April 2020 lockdown meant to contain the domestic spread of the COVID-19 (coronavirus) virus and subsequent outbreaks in Da Nang and Ho Chi Minh City. Nevertheless, the economy showed exceptional resilience. Gross domestic product (GDP) grew by...

This note analyzes the short-term effects of the COVID-19 (coronavirus) shock during the first year of the crisis and presents alternative medium-term recovery scenarios. It asks a set of questions, and in answering those questions, provides policy suggestions for the Vietnamese...

Croatia has made significant economic progress since independence, but the global financial crisis has exposed weaknesses in its economy and growth model. While growth has resumed in 2015, income convergence has been thrown back by the crisis and by the prolonged recession that followed and is...

This Public Expenditure Review is focused on the quality and sustainability of public spending. The key objective of this Public Expenditure Review (PER) is to assess the quality of public spending, by evaluating its efficiency and effectiveness, while also delving into sustainability...

The objective of this report is to provide an update to the Government of Cabo Verde, think-tanks and researchers, and the public on the state of the Cabo Verde economy and its outlook, together with the structural reforms required to strengthen the foundations for private sector-led recovery...