Bhutan has a strong track record of reducing poverty and boosting shared prosperity, primarilysupported by the state, which has played a large role in the country's development accomplishments.Growth has been driven mainly by the public sector through hydropower development. Statedominance is...

The outlook for the global economy has darkened amid elevated trade tensions. International trade and investment are moderating, trade tensions remain elevated, and financing conditions are tightening. Global growth is projected to moderate from a downwardly revised 3 percent in 2018 to 2.9...

Real GDP growth slowed to 3.1 percent in January-November 2018 from 3.7 percent in the same period of 2017. This deceleration was the result of slower growth in both gold production and non-gold industry. Export performance remains weak, largely on account of a sharp slowdown in gold exports,...

Economic performance in 2018 has been mixed. The data that are available suggest some areas of softening in the economy.1 Foreign direct investment declined to 2 percent of GDP in 2017, down from about 5 percent in 2014. The current account deficit has increased to 3.8 percent of GDP in the year...

2019 was a year of political transition and conditions are in place for continuing stability in the country. Economic and financial crises in 2008 and 2014–16 have shown Kazakhstan’s vulnerability to external shocks and altered its very strong growth path. This Country Partnership Framework...

The Republic of Congo, which joined the ranks of lower middle-income countries on the back of strong oil revenues for more than a decade, has yet to fully leverage its natural resource endowments to achieve robust and sustainable development outcomes. Congo is now resource-constrained at a time...

Following four decades of high growth and poverty reduction, China has entered a new stage of development. Governance and institutional reforms are at the core of addressing China’s remaining development challenges. The China-World Bank Group (WBG) relationship, which will complete 40 years in...

The Country Partnership Framework (CPF) outlines the principles underlying the World Bank Group’s engagement with Timor-Leste from FY2020 to FY2024. The CPF responds to Timor-Leste’s strategic directions and its timeframe coincides with the expected tenure of the current parliament and...

This Country Partnership Framework (CPF) builds on lessons drawn from current engagements and recognition of the operating and reputational risks of the fragile political context. The CPF is fully aligned with WBG Strategy for Africa that aims to create sustainable and inclusive growth,...

This Systematic Country Diagnostic analysis of growth, structural transformation, poverty reduction, and inclusion suggest that Rwanda will need to target the following outcomes to maintain rapid progress toward poverty reduction and shared prosperity: • a shift to a productivity-led growth...