Inflation has surged to 18 percent while growth is projected to slow to 2.7 percent this year. High oil prices have strengthened fiscal and external buffers, while the revised budget increased public spending by 2½ percentage points of GDP to support activity. Subsidiaries of sanctioned Russian...

The economy has maintained a strong momentum, driven by robust consumption and a surge in inflows of income, capital, business, and labor. Inflation has increased markedly due to the sharp rise in food and energy prices and the booming economy, but proactive monetary policy tightening and GDP...

Namibia has been severely hit by the COVID-19 pandemic but has started to gradually recover. After a sharp contraction in 2020, with worsening fiscal imbalances and socio-economic disparities, a modest recovery began in 2021 and strengthened in the first half of 2022. Mining activity rebounded...

Past efforts to build policy buffers and a broadly appropriate macroeconomic policy mix during 2020-21 have helped Albania withstand the impact of consecutive shocks since 2019. Growth is expected to remain solid in 2022 before decelerating in 2023, and inflation is projected to return to the...

Canada has come through the pandemic relatively well and, as a commodity exporter, has been hit less hard than many other countries have been by Russia's war on Ukraine. Nonetheless, inflation is well above target, housing affordability is a major concern following a long boom that may now have...

Russia's war in Ukraine and the related fallout have created a challenging external environment for the post-pandemic recovery of low-income countries (LICs). Food and commodity prices linger at elevated level with worsening food security. Global financial conditions tighten as major economies...

The economic recovery is strengthening, as a successful vaccination campaign and recovery from COVID-related restrictions dominate headwinds from the worsening international economic environment. Growth is projected at 3.8 percent this year, rising to 5 percent in 2023 as the first liquefied...

Paraguay continues to recover from the COVID-19 pandemic amidst simultaneous shocks that would lead to flat GDP growth and inflation above the IT range this year. Those conditions are reflected in rising social demands within a politicized environment before the 2023 general elections. The...