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...

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...

Kenya continues to experience steady economic growth, with real GDP expanding on average by about 5.6 percent over the last five years (2014-2018). In 2019, however, economic activity has softened primarily due to lower agricultural output and weak private sector investment. As a result, the...

After several months of low COVID-19 case numbers, Malawi is facing a fourth wave. While an increasing share of the global population is protected by vaccines, only about 6.5 percent of the population is vaccinated in Malawi, increasing the country's vulnerability to the virus. The Government...

Since its independence in 1991 and until prior to the global financial crisis (GFC) in 2008-09, Armenia was considered an important success story among the transition economies. Indeed, over several years, the country displayed a record of sustained macroeconomic achievements, reflected in high...

Despite continuing external challenges, economic output rose strongly in 2016 according to official estimates. Driven mainly by foreign-financed public and private investment, real gross domestic product (GDP) expanded by a robust 6.9 percent. At the same time, a protracted decline in real...

Economic growth is expected to attain 3.1 percent in both 2016 and 3.2 percent in 2017 accelerating from 2.8 percent last year with private consumption and public investment as key drivers as consumer sentiment recovers, households deleverage and large public infrastructure projects are...

The COVID-19 (Coronavirus) pandemic has triggered a deep global economic recession. The COVID-19 (Coronavirus) shock is the most adverse peacetime shock to the global economy in a century. The Russian Federation possesses a high-quality education system that is recognized internationally....

The COVID-19 pandemic had a significant adverse impact on the Tajik economy. Real GDP growth slowed to 4.2 percent year-on-year in the first nine months of 2020, compared to 7.2 percent a year earlier. Restrictions on labor mobility and economic activity at home and abroad resulted in lower...

The Lao economy is estimated to have grown at around 7 percent in 2016, a slight moderation from 7.4 percent in the previous year. Inflation pressures remain low, though prices increased faster in the second half of the year as oil prices recovered. The fiscal deficit widened significantly in...