Governments face growing contingent liabilities from disasters as they tend to shoulder a significant share of disaster response and recovery costs. Disaster shocks increase government expenditure and hamper economic activities. An increasing number of countries are developing financial...

The Turkish lira (TL) has depreciated to an extent not seen since the 2001 crisis, reaching its lowest level in September 2018 (TL 6.37/US 1.00 dollar), losing 66 percent of its value against the US dollar since January 2018. This Regular Economic Report focuses on the likely impact of the...

The Tunisia Economic Monitor provides an update on key economic developments and policies. It examines these economic developments and policies in a longer-term and global context and assesses their implications for the outlook for the country. There are two special focus sections in this...

After a strong start in early 2022, the largest COVID-19 wave in two years and resulting mobility restrictions have disrupted China's growth normalization. The global environment has also significantly worsened following Russia's invasion of Ukraine. Real gross domestic product (GDP) growth is...

Over the period 2019-21, Albania had to confront dual shocks: the 2019 earthquake and the COVID-19 pandemic. Both had sizable impacts on the country's economy. The COVID-19 pandemic took a heavy toll on an economy already affected by the earthquake in 2019. Key sectors were put in lockdown in...

Real GDP expanded by 17.7 percent in 2022, with per capita incomes surpassing the pre-pandemic levels. On the supply side, accommodation, transport, and commerce explained 60 percent of growth. On the demand side, exports (mainly tourism) and private consumption accounted for growth. The rebound...