Kenya's economic performance softened in 2022, steering towards country's long-term growth rate. Real GDP expanded by 4.8 percent in 2022, a deceleration compared with the strong rebound from the Covid-19 crisis at 7.5 percent annual growth in 2021 but broadly aligned with growth rates of...

This Algeria Economic Update reports on the main recent economic developments and policies. It places them in a global and longer-term context and assesses the implications of these developments and policy changes for Algeria's economic prospects. The report is intended for a broad audience,...

This is the tenth edition of the Republic of Congo Economic Update. Each edition of this annual report presents an overview of the Republic of Congo's (ROC) evolving macroeconomic position, followed by a detailed exploration of a specific topic. The first chapter of this year's update presents...

Commodity windfalls and private consumption have sustained Indonesia's growth despite a difficult global environment, but signs of normalizing domestic demand are emerging. Inflation is easing at a faster pace than markets anticipated. Indonesia's external vulnerabilities remain moderate. The...

The Gabon Economic Update is an annual World Bank publication that presents an overview of the evolving macroeconomic position in Gabon, followed by a detailed exploration of a specific topic in each edition. The first chapter analyzes recent economic developments, as well as the macroeconomic...

The six countries of the Western Balkans have seen their resilience tested over the last three years. Growth in the Western Balkan economies started strong in early 2022, before moderating toward year-end, but the impact of major shocks, such as electricity and heating outages, has been less...

The Philippine economy outperformed its regional peers, expanding by 6.4 percent in the first quarter of 2023. The continued release of pent-up demand as well as recovering labor market, steady remittances, and tourism rebound supported domestic activity. Weak global conditions, however,...

The global economic recovery remains fragile, creating choppy seas for the recovering Pacific. While global conditions have gradually improved since the pandemic and spillovers from Russia's invasion of Ukraine, progress on reducing inflation in major economies has proven more challenging than...

Private sector participation in the Tajik economy is relatively large, but dynamism is very low. Analysis with micro-level data points to multiple weaknesses: low entry rate, low productivity, limited integration to trade, low incidence of innovation, and limited capabilities. Also revealing is...

In the last two years, Liberia's economic performance has improved. Inflation remained in single digits despite high global food and fuel prices and a relaxation in monetary and fiscal policies. Liberia's poverty rate is projected to have declined slightly in the last two years as GDP growth...