The twin shocks of the pandemic and weak global trade has particularly impacted Thailand due to the country's position as a trade and tourism hub. Thailand's tourism arrivals reached only 75 percent of pre-pandemic levels in September despite the ongoing growth in global services trade. Visitor...

The Gulf Cooperation Council (GCC) economies have been a bright spot in an otherwise gloomy economic landscape. Average growthin the GCC surpassed 7 percent in 2022 led by Saudi Arabia, its biggest economy, which was globally the fastest growing large economy. This growth was not just a result...

This report is intended to inform public debate and policymaking on income inequality in Thailand. It aims to provide a comprehensive analysis of income inequality in Thailand and identify opportunities to promote more inclusive growth. The analysis uses a wealth of data from a variety of...

Economic activity in China has picked up in 2023, but the recovery remains fragile. Real GDP growth accelerated to 5.2 percent y/y in the first three quarters of 2023, driven by demand for services, resilient manufacturing investment, and public infrastructure stimulus. The initial phase of...

The full-scale invasion of the Russian Federation in Ukraine has immense local impact and global consequences. Ukraine is experiencing huge human and economic suffering, which will have long-lasting effects. This war has been particularly devastating for the Ukrainian health sector, tremendously...

The CEMAC Economic Barometer is a World Bank publication that presents a snapshot of recent developments in and the economic outlook of the CEMAC region, followed by a brief assessment at the country level. The Economic Barometer also includes a focused technical section on a theme of regional...

Important reform decisions have been taken for Nigeria to avoid a fiscal cliff, and temporary compensation is being provided to help the poorest and most vulnerable households. In May and June 2023, the incoming administration undertook two critical policy decisions, which have resulted in price...

The Lao PDR is facing unprecedented macroeconomic challenges, which jeopardize hard-won development gains. Over the past two decades, the country attracted considerable foreign investment and fostered regional integration, which contributed to a long period of high economic growth. Many human...

Notwithstanding slower global growth and lingering impacts of recent catastrophic floods, private sector activity, outside the oil sector, has been supported by a relative return to peace, and higher government spending. Nevertheless, the economy is estimated to have contracted by 0.4 percent in...

This Country Economic Memorandum (CEM) argues for a significant shift in policy to enable a virtuous cycle of sustained and inclusive economic growth, outlined infive building blocks. Chapter 1 identifies policy priorities to restore the macroeconomic fundamentals for growth through fiscal...