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  • 1
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    Yemen : Connecting the Yemeni Private Sector to the World (2024)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Private Sector Development, Privatization, and Industrial Policy
    Keywords: Access To Finance ; Business Environment ; Conflict ; Conflict and Development ; Economic Growth ; Finance and Financial Sector Development ; Fragile States ; Private Sector ; Private Sector Development
    Abstract: This Private Sector Assessment Report on the Republic of Yemen is delivered as part of the Private Sector Technical Assistance project. The goal of the project is to understand the dynamics of the country's private sector during conflict; identify constraints to trade, investment, and finance; and propose recommendations for inclusive private sector entry, survival, and growth. The report also includes an overview of the financial sector's impact on the private sector, especially on the latter's resilience during conflict. Finally, the report provides structural and policy recommendations that, once implemented by the authorities on both national and subnational levels, would prepare the Yemeni private sector to participate in the country's post-conflict recovery and reconstruction
    DOI: 10.1596/41273
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    MPI Ethno. Forsch.
  • 2
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    The World Bank Group in Papua New Guinea : Country Program Evaluation, Fiscal Years 2008-23 (2024)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: IEG Independent Evaluations and Annual Reviews
    Keywords: Adaptation To Climate Change ; Economic Growth ; Environment ; Gender ; Gender and Development ; Gender and Law ; Gender Based Violence ; Gender Equality ; Macroeconomics and Economic Growth ; Nonextractive Sectors ; Resilience
    Abstract: Papua New Guinea has abundant resources in the form of oil and mineral wealth. But a complex set of factors, including systemic gender inequality, underinvestment in non-extractive sectors, and fragility compounded by vulnerability to disasters caused by natural hazards act as barriers to sustainable and inclusive growth of the country. This Country Program Evaluation (CPE) report assesses the relevance and effectiveness of World Bank Group support to Papua New Guinea between fiscal year FY08 and FY23. It assesses the Bank Group's development effectiveness in addressing the above three core themes, namely: (i) lack of investment in Papua New Guinea's non-extractive sectors and their poor performance, (ii) the economic exclusion of women and gender-based violence (GBV) issues associated with it, and (iii) unmitigated risks of disaster from natural hazards, and violence, and conflict. The report answers three specific questions. The first explores the extent to which the Bank Group adapted its engagement in line with key constraints, including in relation to development partners, changes in country context, and lessons from experience. The second focuses on the results of Bank Group support and explanatory factors for results under each them, answered by applying a gender lens where relevant. The third question explores the extent to which the Bank Group successfully identified and addressed conflict, violence, and disaster from natural hazards risks. The report offers key lessons to inform the World Bank Group's future engagement with the country: (i) Data gaps need to be addressed to inform sound policy making and effective programming in Papua New Guinea. (ii) Declining governance quality and increasing bilateral aid will require the World Bank to reassess how it supports key policy reforms to achieve development impact, including through using DPOs. (iii) The Bank Group could elevate its impact on gender equality and GBV by shifting from a project-centric approach to a strategic country engagement approach. (iv) The negative effects that compound and interrelated risks pose to achieving development aims need to be addressed more comprehensively
    DOI: 10.1596/41274
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  • 3
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    Diversification through the Application of the Co-evolutionary Framework : Korea and Viet Nam (2024)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other ESW Reports
    Keywords: Co-Evolutionary Framework ; Diversification ; Economic Growth ; ICT Policy and Strategies ; Information and Communication Technologies ; Macroeconomics and Economic Growth ; Principle Of Relatedness ; Technology-Based
    Abstract: This research examines the diversification process by conceptualizing a co-evolutionary framework linking production and technology. The study applies the framework to retrospectively explain Korea's successful diversification path and to Viet Nam to identify how the country could further diversify into complex and value-added products. The authors apply relatedness analysis leveraging patent and trade data and present four different types of diversification patterns, namely unrelated diversification, production-based diversification, technology-based diversification, and complex diversification. Developed countries including Korea shifted toward technology-based or complex diversification strategies as their economies developed. Using a simulated scenario approach, the report outlines potential future trajectories wherein Viet Nam attains technological capabilities. The result shows that Viet Nam can diversify into 233 products if it accumulates capabilities in the 12 identified technologies. The report concludes with policy lessons that could inform policy makers in Viet Nam as well as other developing economies. Namely, that the country would need to invest more intensively in technology and capabilities upgrading to diversify into new complex products and evolve its diversification strategy alongside its economic growth and capability building process
    DOI: 10.1596/41312
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  • 4
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    Central America Human Capital Review : Promoting More and Better Investments in Human Capital (2024)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Social Protection Study
    Keywords: Education ; Education For All ; Employment ; Employment and Unemployment ; Human Capital ; Poverty ; Poverty Reduction ; Skills Development and Labor Force Training ; Social Protections and Labor ; UMI Countries
    Abstract: This Human Capital Review aims to provide analytical foundations in the support of policies that improve human capital outcomes for the following four UMI countries in Central America: Costa Rica, Guatemala, Panama, and the Dominican Republic. The objective of this report is to identify the key constraints to human capital growth and understand how education and labor market policies can foster a resilient recovery, promote inclusive growth, and contribute to poverty reduction in these countries. The review also estimates the impact of the COVID-19 pandemic on human capital outcomes using a multi-sectoral approach. The analysis compares human capital outcomes in the decade before the COVID-19 pandemic (2010-2019) against trends during the pandemic (2020-2021). Lastly, the report focuses on these four countries, which are the only UMI in Central America to take advantage of new data collected during the pandemic, which allowed to quantify some of the impacts of COVID-19 and understand some of their long-term implications for human development outcomes
    DOI: 10.1596/41181
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  • 5
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    Liberia Country Climate Development Report (2024)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Country Climate and Development Reports (CCDRs)
    Keywords: Adaptation To Climate Change ; Climate Change Adaptation ; Economic Growth ; Environment ; Finance ; Inlcusive Growth ; Macroeconomics and Economic Growth ; Poverty Reduction ; Resilience
    Abstract: This Country Climate and Development Report (CCDR) examines Liberia's development trajectory through the lens of the country's vulnerability to climate change. It identifies Liberia's development risks and opportunities, models various scenarios of climate impact and intervention, and proposes ways to strengthen resilience and finance climate actions that support Liberia's development aspirations of inclusive growth and poverty reduction
    DOI: 10.1596/41241
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  • 6
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    Nigeria Development Update, December 2023 : Turning the Corner: From Reforms and Renewed Hope, to Results (2024)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Forecasting ; Economic Growth ; FDI ; Foreign Direct Investment ; FX ; Import Bans ; Improved Welfare ; Inflation ; International Economics and Trade ; Macroeconomics and Economic Growth ; Oil Flows ; Private Sector Credit
    Abstract: 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 and exchange rate adjustments in the second half of the year. Targeted cash transfers are helping to cushion the adjustment to higher gasoline prices. On fiscal policy, budget planning for the next several years is consistent with sustaining the fiscal savings from the subsidy reform and mobilizing more revenues. However, the reforms are yet to be completed to fully realize the economic benefits. The FX market has remained volatile and is still in a period of continuing adjustment to the new policy approach. Revenue gains from the FX reform are visible, but more clarity is needed on oil revenues, including the fiscal benefits from the PMS subsidy reform. The economic outlook for Nigeria in the short to medium term hinges on the continuation and effectiveness of its macroeconomic stabilization agenda. Successful implementation of the initiated reforms will be the first step toward improving Nigeria's growth prospect. Moving decisively onto a higher long-term growth and poverty reduction path requires not only a stable macroeconomic environment but also concerted structural reforms
    DOI: 10.1596/40863
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  • 7
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    China Economic Update, December 2023 : Which Way Forward? Navigating China's Post-Pandemic Growth Path (2024)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Demand Shortfalls ; Economic Forecasting ; Economic Growth ; Growth ; Inflation ; Investment Shifts ; Macroeconomics and Economic Growth ; Property Sector
    Abstract: 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 economic reopening triggered a surge in economic activity in Q1, but growth momentum decelerated rapidly in Q2 before recovering modestly in Q3. The volatile growth performance, compounded by persistent deflationary pressures and still weak consumer confidence, suggests continued fragility in the recovery. China's investment deceleration has been one of the key drivers of the overall growth slowdown in recent years. Together with the decline in aggregate investment growth, there has been a marked shift in the composition of investment. Structural reforms are crucial both to accelerate rebalancing towards higher consumption and to mitigate risks of inefficiencies in capital allocation. Following recent statements by policymakers, a renewed focus on structural reform implementation with specific measures strengthening the rule of law, independent enforcement of regulations, fostering competition, and ensuring a level-playing field could help ensure that resources are allocated to the most productive sectors and firms. Deepening financial sector reform will enhance market-based financial intermediation. Measures to improve the progressivity of the fiscal system, reform the hukou system, and foster inclusive finance will support household consumption growth
    DOI: 10.1596/40875
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  • 8
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    Gulf Economic Update, Fall 2023 : Structural Reforms and Shifting Social Norms to Increase Women's Labor Force Participation (2024)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Growth ; Gender ; Gender and Development ; Gulf Cooperation Council (GCC) ; Macroeconomics and Economic Growth ; Saudi Arabia ; Women ; Women and Labor
    Abstract: 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 of buoyant hydrocarbon prices but also continued growth of non-oil sectors. The latter was the result of persistent structural reforms undertaken by several GCC countries to improve the investment environment, promote flexible labor markets, and encourage women to join the labor market. GCC countries have used the windfall revenues from oil and gas to rebuild their buffers, pay down their debt, and shore-up their sovereign wealth funds. They have also sought to protect their vulnerable populations with continued subsidies on food, fuel, and utilities. Such policies have limited the impact of inflation on the domestic economy. Finally, GCC countries have also used their financial muscle to support economically weaker countries in the region. The stellar growth of 2022 is slowing down and growth is expected to moderate to 1 percent in 2023 before picking up again to 3.6 percent in 2024. The decline in economic activity in 2023 is driven by consecutive production cut decisions by OPEC+ in an effort to stabilize global oil prices. However, non-oil GDP continues its growth trajectory reaching 3.9 percent, resulting weaker integration between oil and non-oil sectors. To maintain this track record, GCC countries will need to continue to exercise prudent macroeconomic management, stay the course with structural reforms, and increase non-oil exports. Downside risks remain and it would be amiss not to mention them. The conflict in the Middle East presents major risks to the region and the GCC outlook if it extends or expands to include other regional players. While it is too early to quantify the impact and channels of the conflict, we already witness a 4 percentsurge in global oil futures. Although China is bouncing back after emerging from tight Covid-19 lockdowns, troubles in the real estate sector could still disrupt this trajectory. Persistent high inflation in the world's major economies has not been entirely vanquishedsuggesting a high interest rate environment for a longer period. Windfall revenues are anticipated as a result of higher oil prices driven by the conflict in the Middle East. However, the extent and duration of the conflict will play a pivotal role in determining economicramifications not only on energy markets but also on regional financial and trade markets and overall economic confidence. The Special Focus section of the report discusses the power of structural reforms and social norms in advancing female labor force participation in Saudi Arabia. Saudi Arabia experienced an unprecedented surge in female labor force participation since 2016 as a result of: (i) changing regulations and the removal of legal barriers, shifting social norms, (ii) the implementation of sound structural reforms and (iii) effective government communications. Saudi Arabia's success in increasing female labor force participation from 17.4 percent in 2017 to 36 percent in 2023 offers important lessons to other countries in the region and the world
    DOI: 10.1596/40880
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  • 9
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    South Sudan Economic Monitor : Investing in Humans (2024)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Growth ; Financial Sector ; Fiscal and Monetary Policy ; Food Security ; Inflation ; Macroeconomics and Economic Growth ; Monetary Policy ; Real Sector
    Abstract: 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 FY23/24, reflecting drags from oil production. Supported by a successful exchange rate liberalization, inflation averaged -3.2 percent in 2022 and around 3 percent in the first nine months of 2023. Monetary policy has tightened in recent months, but it remains imperative that the central bank refrain from financing the fiscal deficit. The FY23/24 budget projects a smaller financing gap of about 13 percent of budget expenditures comparedto previous years. However, financing vulnerabilities remain high because of limited fiscal and external liquidity buffers and limited debt-carrying capacity
    DOI: 10.1596/40856
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  • 10
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    Mauritania Human Capital Review : Building, Utilizing, and Protecting Human Capital for Inclusive and Resilient Economic Development (2024)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Social Analysis
    Keywords: Early Childhood ; Economic Growth ; Human Capital ; Human Capital Protection ; Macroeconomics and Economic Growth ; Social Protections and Assistance ; Social Protections and Labor ; Strengths and Gaps
    Abstract: This human capital review assesses human capital outcomes in Mauritania and identifies actions to strengthen, utilize, and protect human capital. The government of Mauritania has demonstrated a strong commitment to placing human capital at the forefront of its long-term vision, with dedicated efforts focused on enhancing childhood health and education outcomes. Despite Mauritania's positive initiatives, the country's human capital wealth per capita has declined over the last 20 years; and it is imperative to look at ways to quickly reverse this situation. Children born today in Mauritania will only be 38 percent as productive when they grow up as they could have been had they enjoyed complete education and full health. Increasing the productivity of Mauritanians--both men and women--and thus allowing them to fully contribute to the development of their society entails transforming the human capital challenge to a human capital opportunity. This report takes a comprehensive, cross-sectoral approach and proposes recommendations for building, protecting, and utilizing human capital in Mauritania
    DOI: 10.1596/40929
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  • 11
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    Thailand Economic Monitor, December 2023 - Thailand's Pathway to Carbon Neutrality : The Role of Carbon Pricing (2024)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Carbon Pricing ; Economic Forecasting ; Economic Growth ; Energy ; Energy and Economic Development ; Energy Prices ; Growth and Real Sector ; Inflation ; Macroeconomics and Economic Growth
    Abstract: 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 numbers increased across the board, except for China and Japan which are experiencing economic slowdown. The economic recovery faltered due to global headwinds as growth fell to 1.5 percent year-on-year in 2023 Q3, well below expectations. Thailand has implemented a range of policies to reduce greenhouse gas emissions and has taken the first steps to implementing comprehensive carbon pricing. This report explores some of the complexities involved in implementing carbon pricing. It finds that Thailand has already taken some of the most difficult steps in setting up a comprehensive carbon pricing policy instrument. Important questions remain to be addressed about what form carbon pricing should take in Thailand and which economic sectors should be included in a carbon pricing scheme. The potential benefits from carbon pricing may be substantial. Carbon pricing is likely to play an important role in meeting future emission reduction targets, reducing environmental degradation and air pollution while positioning Thailand as a regional leader in green and sustainable growth
    DOI: 10.1596/40882
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  • 12
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    More, Better, and Inclusive Jobs in Kazakhstan : Social Protection and Jobs Europe and Central Asia - Analytical Report (2024)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Social Protection Study
    Keywords: Data Development and Gender ; Economic Growth ; Employment and Unemployment ; Human Development and Gender ; Labor Market Policy and Programs ; Macroeconomics and Economic Growth ; Poverty Reduction ; Social Development and Poverty ; Social Protection Delivery Systems ; Social Protections and Assistance ; Social Protections and Labor
    Abstract: The following analytical report summarizes the technical notes and presentations prepared by the World Bank and the Workforce Development Center under the Ministry of Labor and Social Protection of Population of Kazakhstan (MLSPP). These works aimed to support the MLSPP in the preparation of the Concept Plan of Labor Market Development for 2024-2029. The teams analyzed existing barriers and the potential for the creation of quality jobs in Kazakhstan because employment is essential for economic growth, which contributes to reducing poverty. Despite slower economic growth and some institutional challenges, Kazakhstan, nevertheless, has been successful at reducing the poverty rate. The major factor contributing to Kazakhstan's growth has been productivity, regardless of the period. A much lower contribution stems from labor market factors and employment rates. Therefore, the teams focused on how to boost firm productivity to increase the number and accessibility of better jobs, as well as how to develop skills and provide good education to the different groups of the population and prepare people for new and old jobs. Based on the material delivered by the World Bank, the WDC and other local expert groups, the MLSPP was able to draft the Concept Plan of Labor Market Development for 2024-2029, which the Government of Kazakhstan approved on November 28, 2023
    DOI: 10.1596/41222
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    Taking Stock, August 2023 : Making Public Investment Work for Growth (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Climate Change ; Climate Change Policy and Regulation ; Decntralization ; Economic Growth ; Finance and Financial Sector Development ; Macroeconomics and Economic Growth ; Public and Municipal Finance ; Public Investment ; Public Sector Development
    Abstract: The latest Taking Stock report shows that Vietnam's economic growth slowed from 8% in 2022 to 3.7% in the first half of 2023. It forecasts a moderate growth of 4.7% in 2023, gradually accelerating to 5.5% in 2024 and 6.0% in 2025. However, the economy faces external and domestic headwinds. Vietnam has ample fiscal space and a proactive fiscal policy supporting short-term demand, removing barriers to the implementation of public investment, and addressing infrastructure constraints can help the economy achieve these targets and promote long-term growth. The report's special chapter studies Vietnam's public investment management and how it can contribute to the goal of becoming a high income economy. To harness the power of public investment, the report recommends that Vietnam sustain its level of investment, improve the quality of the proposed project, and address deficiencies in public investment management and inter-governmental fiscal institutions
    DOI: 10.1596/40169
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  • 14
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    Uzbekistan Country Climate and Development Report (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2163
    Keywords: Adaptation To Climate Change ; Climate Change Adaptation ; Climate Change Mitigation and Green House Gases ; Decarbonization ; Economic Growth ; Environment ; Inclusive Economic Growth ; Macroeconomics and Economic Growth ; Net Zero Emissions ; Poverty Reduction ; Poverty, Environment and Development ; Resilience
    Abstract: This report explores how climate action, in line with Uzbekistan's goal of achieving net zero emissions by 2060, interacts with the country's growth and development path. It further suggests priority actions to reduce carbon emissions and build resilience while supporting inclusive economic growth and poverty reduction
    DOI: 10.1596/40608
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    Democratic Republic of Congo (DRC) Country Climate and Development Report (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2163
    Keywords: Adaptation To Climate Change ; Climate Change ; Climate Change Mitigation and Green House Gases ; Climate Resilience ; DRC ; Economic Growth ; Environment ; Fragile Countries ; Low-Carbon ; Macroeconomics and Economic Growth
    Abstract: This Country Climate and Development Report (CCDR) aims to support DRC's efforts to achieve its development goals within a changing climate by quantifying the impacts of climate change on the economy and highlighting policies and interventions needed to strengthen the country's climate resilience on many different levels. The report captures the interplay between DRC's development, climate challenges, and climate policies, with the objective of identifying synergies and tradeoffs. The CCDR supports the strategic vision of the Government of DRC as articulated in its 2030 National Strategic Development Plan ("Plan National Strategique de Developpement" (PNSD)) to reach middle-income country (MIC) status by 2035, and by 2050, become a diversified inclusive economy spurred by sustainable growth. It identifies the priorities needed in order to launch the most impactful, cost-effective actions to boost adaptation, build resilience, and foster low-carbon growth, while delivering on broader development goals. These are critical objectives, especially in fragile countries such as the DRC
    DOI: 10.1596/40599
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    Togo Economic Update : Unlocking Togo's Potential (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2193
    Keywords: Covid-19 ; Financial Crisis Management and Restructuring ; ICT Applications ; Insurance and Risk Mitigation ; Macroeconomics and Economic Growth ; Poverty Reduction ; Regional Trade ; Sequential Shocks
    Abstract: Since the onset of COVID-19 in 2020, Togo's economy has shown signs of resilience in the face of shocks but efforts to reduce poverty were frustrated and fiscal space depleted. Togo was able to avoid a recession in 2020, with real GDP growth recorded at 2 percent, before rebounding rapidly to 6.0 percent in 2021, thanks in part to a strong counter-cyclical fiscal policy response. Challenges intensified again in 2022 as Russia's invasion of Ukraine contributed to a sharp uptick in energy, fertilizer, and food prices, while global demand decelerated, and financing conditions tightened. However, growth remained robust at 5.8 percent in 2022 as a significant increase in public spending helped counterbalance the adverse impact of weakening export revenues, rising inflation, and decelerating consumer spending. Low-income households were affected by high food price inflation in 2021-22, but the effect on poverty was offset by sustained economic growth and the benefits accruing to poor households dependent on agricultural income. Global headwinds, high domestic inflation, and growing insecurity in the northern Savanes region have prompted the Government to significantly ramp up emergency spending, leading the budget deficit to a three-decade high of 8.3 percent of GDP, from 4.7 percent in 2022
    DOI: 10.1596/40544
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    The Next Generation of Statistical Capacity Building (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 39458
    Keywords: Capacity Building ; Climate Change Impacts ; Data ; Development ; Economic Growth ; Inflation ; Information and Communication Technologies ; Poverty Assessment ; Statistics
    Abstract: The digital revolution has changed the operating environment for statistics and has increased competition in the information space. The operating environment for NSOs has changed significantly in the past decades. Computing power once prohibitively expensive has become affordable even for low-income and lower-middle-income countries. Data that had to be collected manually are now ubiquitous because of digitalization and e-government initiatives, which have also created a constant flow of data from citizens and businesses to government agencies. The rollout of national ID programs, unique business entity identifiers, and national address registers have created the potential for integrating data from disparate databases. However, the vast new technical possibilities have been accompanied by intense competition in the information space. NSOs that were once the main, or in some cases the only, providers of socioeconomic information, are being challenged by new, nimbler, and more data savvy players who are not bound by the rigid definitions and standards of official statistics. The COVID-19 pandemic amplified this trend, with a proliferation of data sites providing near to real-time data on the impact of the pandemic on public health, livelihoods, labor markets, and the economy
    DOI: 10.1596/40471
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  • 18
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    Toward a K-12 Blended Learning Framework for Saudi Arabia (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2113
    Keywords: Blended Learning ; Climate Change Mitigation and Green House Gases ; Economic Growth ; Education ; Energy and Environment ; ICT ; Information and Communication Technologies ; K-12
    Abstract: This report proposes a preliminary guiding framework to define and deploy blended learning models at the K-12 level in the Kingdom of Saudi Arabia. Drawing lessons from international examples and good practices, the proposed framework aims to provide key considerations for the strategic and effective use and integration of Information and Communications Technology (ICT) in K-12 schools
    DOI: 10.1596/40466
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    Malaysia Economic Monitor, October 2023 : Raising the Tide, Lifting All Boats (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2193
    Keywords: Banking Sector ; Economic Growth ; Fiscal and Monetary Policy ; Fiscal Space ; Growth ; Income Inequality ; Inequality ; Macroeconomics and Economic Growth ; Poverty Reduction ; Reforms
    Abstract: Global economic activity registered resilient growth in early 2023 but is losing momentum. Advanced economies growth slowed less-than-anticipated inearly 2023 as tight labor markets drove wages up, preventing a sharp decline in consumption. However, global growth slowed slightly in Q2 2023, with services growth cooling gradually and manufacturing remaining soft. Global inflation has moderated in recent months, largely reflecting favorable base effects from commodity prices falling below their 2022 peaks, along with abating supply chain pressures. Global trade in services strengthened in 1H 2023 thanks to the easing of mobility restrictions but trade in goods slowed due to weakening global industrial production
    DOI: 10.1596/40441
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  • 20
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    Cambodia Economic Update, November 2023 : From Recovery to Reform - Special Focus: Accelerating Structural Reforms to Boost Productivity and Competitiveness (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Agricultural Export ; Crop Production ; Economic Forecasting ; Economic Growth ; FDI ; Goods Exports ; Inflation ; Macroeconomics and Economic Growth
    Abstract: This year's economic activity has been slower than previously anticipated due to emerging structural bottlenecks and continued external headwinds. This has prompted a sense of urgency to address the rising economic challenges to sustain growth in the short to medium term. While Cambodia's structural slowdown started well before the pandemic, it had been masked for several years by rapid capital inflows, mainly from China, fueling a construction boom until COVID-19 hit. The structural challenges are now exposed, hurtingeconomic activity, which is also being impacted by global headwinds. Despite a rapid expansion of public investment in physical infrastructure, shortcomings in Cambodia's transportation network and logistics performance remain, and the country continues to face high costs and low reliability of energy supply. The country is ranked low among East Asian countries in terms of ease of doing business, investment climate, and competitiveness, due in part to its difficulties in promoting good governance
    DOI: 10.1596/40803
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    Kingdom of Eswatini Economic Update, August 2023 : Raising the Game with Efficient State-Owned Enterprises (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Forecasting ; Economic Growth ; Finance and Financial Sector Development ; Fiscal Deficit ; Macroeconomics and Economic Growth ; Poverty ; Public and Municipal Finance ; SOE ; Unemployment
    Abstract: Eswatini's economy has been characterized by persistent low growth, high fiscal deficits, and unprofitable state-owned enterprises (SOEs). Without significant reform, the country is unlikely to achieve its socioeconomic aspirations, and poverty and unemployment are likely to remain high. These problems are exacerbated by the difficult external environment, with subdued global demand and volatile international prices. In this context, the government of Eswatini recognizes that the country needs a series of policy reforms to unleash the potential of the private sector. It also needs to improve the efficiency of SOEs in strategic sectors, which deliver services to many businesses and households. This report is divided into two parts. Part 1 discusses recent economic developments in the global and domestic economy and assesses Eswatini's short and medium-term prospects. Part 2 reviews the role that SOEs can play in the government's efforts to enhance economic performance. It assesses both their contribution to the economy and their limitations to suggest directions for reform
    DOI: 10.1596/40154
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    Republic of Congo Country Climate and Development Report - Diversifying Congo's Economy : Making the Most of Climate Change (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2163
    Keywords: Adaptation ; Adaptation to Climate Change ; Climate Change Mitigation and Green House Gases ; Climate Governance ; Climate Resilience ; Economic Diversification ; Environment ; Finance and Financial Sector Development ; Financial Sector and Social Assistance ; Health Costs ; Natural Capital ; Poverty Reduction ; Private Sector ; Private Sector Development ; Private Sector Economics ; Republic Of Congo ; Sustainable Growth
    Abstract: The Republic of Congo (RoC) CCDR is a new World Bank core diagnostic report that integrate climate change and development considerations. It is intended to help the country prioritize the most impactful actions that can boost adaptation and reduce greenhouse gas (GHG) emissions, while delivering on broader development goals. The CCDR builds on data and rigorous research and identify main pathways to reduce climate vulnerabilities and GHG emissions, including the costs and challenges as well as benefits and opportunities from doing so. The report highlights that RoC could reduce poverty in rural areas by 40% and in urban areas by 20% by 2050 by implementing more ambitious reforms to promote economic diversification and climate resilience. It also concludes that business as usual is not an option. Economic losses could reach up to 17% of GDP by 2050 if reforms to diversify the economy and attract more climate investments are not taken. Climate impacts could also increase total health costs from USD 92 million in 2010 to USD 260 million by 2050. The report identifies four priorities to promote sustainable growth in the country: (i) stronger and greener infrastructure and services in electricity, transport, water, and sanitation can deliver transformative results; (ii) More climate-ready education, health systems and social services can save lives and bring critical resources to the poorest; (iii) More investments in natural capital including climate smart agriculture and greater forest management along will help create jobs while reducing carbon emissions; (iv) better climate governance to leverage carbon markets. The forest contributes to USD 260 million in timber exports and store over 44 billion tons of carbon dioxide equivalent emissions. Protecting and valorizing the forest is critical to turn the country's natural capital into wealth. The report emphasizes that the private sector has a critical role to play in mobilizing financing for an ambitious set of reforms and investments in the context of tight fiscal space. This will require raising awareness on risks and opportunities from climate change, and innovative solutions and financial sector reforms
    DOI: 10.1596/40433
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    Maldives Development Update, October 2023 : Batten Down the Hatches (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2193
    Keywords: Economic Forecasting ; Economic Growth ; Fiscal Deficit ; Inflation ; Macroeconomics and Economic Growth ; Public Debt ; Resilient Infrastructure ; Sustainability ; Welfare Disparities
    Abstract: The economy has maintained its strong growth momentum, with the expansion in tourism, and poverty is expected to fall further in 2023. The number of tourist arrivals grew by 14 percent (y-o-y) to 1.25 million by early September 2023, reaching a historic high compared to similar periods in other years (Figure ES.1). Despite the Russian invasion of Ukraine, arrivals from Russia remained strong. An earlier-than-expected reopening of the Chinese market, on January 18, has compensated for lower arrivals from India and Gulf countries, while arrivals from Europe continued to increase. As a result, the Maldivian economy grew by 5.5 percent (y-o-y) in the first quarter of 2023. Poverty levels also fell with the strong economic rebound, to an estimated level of 1.5 percent of the population. High inequality in the country, especially in the outer atolls, remains a real concern
    DOI: 10.1596/40414
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    The Trends in Adolescent and Youth Well-being in the United Republic of Tanzania : Harnessing the Potential of Adolescents and Youth in Tanzania (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2209
    Keywords: Adolescent Well-Beng ; Climate Change Mitigation and Green House Gases ; Drop-Out Rate Reduction ; Economic Growth ; Education ; Energy and Environment ; Financial Sector and Social Assistance ; Gender ; Gender and Education ; Gendered Adolescent Health Trends ; Health, Nutrition and Population ; Secondary Education ; Water Resources Management ; Youth Health ; Youth Well-Being
    Abstract: This report focuses on the trends of adolescent and youth well-being in Tanzania, identifying how and why well-being has or has not changed over time. The report conceptualizes well-being holistically. Well-being can be defined as one's ability and opportunity to learn, make decisions, live a healthy life (physically and mentally), be well-nourished, express agency, have peace of mind, and ultimately be economically empowered. Well-being can be accumulated over time and is a composite of multiple aspects that affect the life one lives and the quality of that life. In many ways, how to live a good life and whether one is living this good life has been a key question asked across countries, and there are multiple frameworks that have been used to measure well-being. For the purposes of this study, six domains of well-being are recognized: (1) education and learning, (2) bodily integrity, (3) health, (4) psychological well-being (peace), (5) voice and agency, and (6) economic empowerment and skills. These domains are interconnected, and, also considered is the idea of peace of mind, without which, there is no wellness
    DOI: 10.1596/40499
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    Displaced During Crisis : Lessons Learned from High-Frequency Phone Surveysand How to Protect the Most Vulnerable (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2153
    Keywords: Climate Change and Agriculture ; Communities and Human Settlements ; Conflict and Development ; Covid and Refugee Welfare Covid ; Economic Growth ; Food Security ; Forceably Displaced Populations (FDP) ; Gender and Development ; Governance ; Host Population Welfare ; Labor Markets ; Refugee Education ; Refugee Labor Market
    Abstract: This report makes several contributions to the literature on the welfare of FDPs and their hosts. On the data front, the harmonized database compiled for this report represents a large and unique source of information on the welfare of both hosts and FDPs during the period of an unprecedented pandemic. The data span 14 countries from different regions, populations of concern (IDPs, refugees, hosts), and accommodation types (in camps, out of camps). Over a fifth of the global population displaced before the start of the pandemic is represented in this database, allowing for direct comparison and aggregation of results across countries and subgroups. The report also brings a policy lens to the analysis. By examining the role of existing labor market and education policies in the hosting country using newly available information from a cross country, up-to-date policy database, the data yield important insights. In addition, the report examinesaid financing trends using disbursement-level data from OECD's Creditor Reporting System (CRS) and a labor-intensive keyword search approach to teaseout disbursements that are intended for displaced populations. The rest of the report is organized as follows. Section 2 describes the data used in this exercise, including the samples, the harmonization process, and the resulting database. Section 3 presents the key results on the welfare impact of the forcibly displaced and their hosts during the pandemic and ensuing crises. Where relevant and possible, theresults are linked to preexisting sectoral polices that were in place in hosting countries before the pandemic. Section 4 discusses the recent trend in official development assistance (ODA) intended for displaced populations. The report concludes with adiscussion of the results and a set of forward-looking policy recommendations, focusing on inclusive social policies and sustainable financing aimedat promoting self-reliance among the displaced, and on lessons learned for data collection and harmonization following this unprecedented endeavor
    DOI: 10.1596/40495
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    South Asia Macro Poverty Outlook : Country-by-country Analysis and Projections for the Developing World, Annual Meetings 2023 (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2119
    Keywords: Debt Indicators ; Developing Countries ; Economic Growth ; Fiscal Indicators ; GDP ; Inflation ; Macroeconomics and Economic Growth ; Poverty Indicators
    Abstract: This edition of the Macro Poverty Outlooks periodical contains country-by-country forecasts and overviews for GDP, fiscal, debt and poverty indicators for the developing countries of the South Asia region. Macroeconomic indicators such as population, gross domestic product and gross domestic product per capita, and where available, other indicators such as primary school enrollment, life expectancy at birth, total greenhouse gas emissions and inflation, among others, are included for each country. In addition to the World Bank's most recent forecasts, key conditions and challenges, recent developments and outlook are briefly described for each country in the region
    DOI: 10.1596/40490
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    Tunisia Economic Monitor, Fall 2023 : Migration Amid a Challenging Economic Context (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Drought ; Economic Recovery ; Emigration ; Inflation ; Migration ; Poverty Reduction
    Abstract: Migration will likely become increasingly important for Tunisia in terms of both inflows and outflows, given the demographic transition in both Tunisia and Europe. As such Tunisia can work (also with partner countries) to maximize the benefits of migration. As a country of mainly emigration, Tunisia could help strengthen the match of its emigrants with the demand abroad, including through enhanced cooperation with destination countries. Such cooperation should include focusing international assistance towards development objectives in Tunisia. Based on available evidence, increasing household incomes will contribute to reducing the propensity to consider emigrating through irregular channels. As its importance as a destination country (hence migrants who want to settle in Tunisia) is likely to increase, Tunisia can also enhance the economic benefits from immigrants by facilitating migrants' regular status and streamlining the recognition of their qualifications, which has been identified as one of the key aspects for the successful implementation of bilateral mobility agreements involving skill partnerships
    DOI: 10.1596/40676
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    GovTech Maturity Index, 2022 Update : Trends in Public Sector Digital Transformation (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Economic and Sector Work Reports
    Keywords: Data Analysis ; Data Collection ; Economic Growth ; Governance ; ICT Data and Statistics ; Index Construction ; Information and Communication Technologies ; Macroeconomics and Economic Growth ; Results Reporting ; Technology ; Validation
    Abstract: The 2021 GovTech Maturity Index (GTMI) report and underlying dataset provide opportunities to replicate the study, identify gaps in digital transformation by comparing the differences among economies and groups of economies, and track changes over time in a transparent way. The dataset will be updated every two years to reflect developments in the GovTech domain. This 2022 GTMI update report and the accompanying dataset and new data dashboard present the progress within the last two years, highlight some of the good practices, and identify existing gaps for possible improvements in countries at the technology frontier. As with the 2020 edition, economies are grouped, not ranked, to illustrate the state of GovTech focus areas globally. This overview report presents a summary of the approach, how the 2022 GTMI dataset update is different, improvements in the GTMI dataset contents and visualization tools and GTMI group calculations, and initial findings and key messages
    DOI: 10.1596/38499
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    The Union of Comoros Country Economic Memorandum : Boosting Growth for Greater Opportunities (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Keywords: Accommodation and ; Agriculture ; Aquaculture ; Economic Growth ; Fisheries and ; Fisheries Sector ; Growth Potential ; Human Capital ; Industry ; Macroeconomics and Economic Growth ; Private Sector Development ; Regionalization ; Tourism Industry ; Tourism Sector
    Abstract: Comoros is at the crossroads to redefine its future and become an upper-middle income country by 2050, but this would require implementing an ambitious reform agenda that focuses on increasing productivity and private investment. The current business-as-usual policy framework has delivered low private investment and human capital, sectoral growth below potential, and no poverty eradication. Pursuing this policy framework, which would not allow Comoros to reach the GDP growth target of 7.5 percent by 2030 laid out in the national development plan, could result in GDP per capita of USD 1,890 and a poverty rate of 22.9 percent by 2050. By contrast, under a policy framework of ambitious reforms that include measures to increase inclusiveness, Comoros could reach a GDP per capita of USD 3,934 and reduce the poverty rate to below 5 percent by 2050. Supported by the continuous implementation of ambitious reforms, such a level of GDP per capita could have Comoros reach upper-middle-income status by 2050. Under this ambitious reform agenda, private investment would average 11.9 percent of GDP in 2023-2050, and total factor productivity growth would average 1.45 percentage points per year during the same period
    DOI: 10.1596/40534
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    Niger Country Environmental Analysis (2023)
    Washington, D.C : The World Bank
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    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Country Environmental Analysis
    Keywords: Adaptation to Climate Change ; Climate Change and Environment ; Deforestation ; Economic Growth ; Environment ; Forest Degradation ; Land Degradation ; Macroeconomics and Economic Growth ; Natural Capital
    Abstract: Niger is a fragile country, marked by a poorly diversified economy and extreme poverty. Climate change, rapid demographic growth, and weak governance are major threats to Niger's growth. These changes have led to human losses, decreased soil productivity, and increased competition for access to resources. Moreover, many rural communities have grappled with a land tenure system with often unclear and overlapping rights, a lack of land use classification and registry, and an absence of monitoring and enforcing by local institutions. It is important to note that the rapid population growth and the recent COVID pandemic have put additional pressure on food security and natural resources. Natural capital is crucial for the Nigeriens' livelihoods and food security. Degradation of cropland and pastureland is a key problem in Niger. This Country Environmental Analysis (CEA) aims to analyze critical environmental challenges that threaten sustainable economic growth in Niger and to propose actions to address them. It focuses on three government priorities that require in-depth analysis and immediate response: land degradation, deforestation and forest degradation, and climate change
    DOI: 10.1596/39588
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    The Big Push for Transformation through Climate and Development : Recommendations of the High-Level Advisory Group on Sustainable and Inclusive Recovery and Growth (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Economic and Sector Work Reports
    Keywords: Adaptation to Climate Change ; Climate Change Economics ; Climate Change Policy and Regulation ; Climate Development ; Economic Growth ; EMDES ; Energy Transition ; Environment ; Finance and Development ; Finance and Financial Sector Development ; Fiscal Space ; Inclusive Recovery ; Macroeconomics and Economic Growth ; Public Sector Development ; Sustainability ; Transformation
    Abstract: This report makes the case for a big investment push for EMDEs' sustainable recovery and development, assesses the magnitude and composition of such investment, presents actions needed for an energy transition, looks at the role that innovations and state capacity can play in facilitating GRID, and proposes actions that governments, the private sector, MDBs, the IMF, and donors can undertake to mobilize financing at the large scale needed. The report summarizes the insights derived from the meetings of the High-Level Advisory Group (HLAG) on Sustainable and Inclusive Recovery and Growth, jointly led by Mari Pangestu, Ceyla Pazarbasioglu, and Nicholas Stern, and composed of experts from research institutions, the private sector, and governments, as well as senior World Bank Group and IMF staff members. The work of the HLAG, and thus this report, focuses on EMDEs and delves in greater depth into climate investment and financing, particularly for energy transition, as it is a less researched area. While doing so, it recognizes that policy and investment decisions in high-income countries, which accounted for only 16 percent of the global population in 2019 and yet for 32 percent of total greenhouse gas emissions (World Bank 2023a, 2023b), will be critical to whether the Paris Agreement goals can be reached. It also recognizes that these countries must play a key role in contributing financially to EMDEs' transition to low-carbon economies
    DOI: 10.1596/39478
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    Timor-Leste Economic Report, December 2022 : Honoring the Past, Securing the Future (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Delivery Systems ; Economic Forecasting ; Economic Growth ; GDP ; Macroeconomics and Economic Growth ; Reform ; Social Protection ; Social Protections and Assistance ; Social Protections and Labor
    Abstract: The global economy continues to face steep challenges, but Timor-Leste's economy is slowly recovering. Nevertheless, gross domestic product (GDP) per capita has not returned to pre-pandemic levels. Consumer price inflation reached 7.9 percent yoy in August 2022, one of the highest in the East Asia Pacific region. The real effective exchange rate (REER) has appreciated by about 10 percent since the first quarter of 2021. Enhancing productive capabilities through structural reforms and improving quality of public spending hold the key for accelerating and sustaining economic development. Extending the life of petroleum fund through fiscal consolidation is essential to delay the fiscal cliff and ensure the perpetuation of government spending to support economic growth. Despite receding impact of the pandemic, the level of government spending has not returned to the pre-COVID 19 levels
    DOI: 10.1596/39439
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    Rwanda Economic Update, February 2023 : Making the most of Nature Based Tourism in Rwanda (2023)
    Washington, D.C : The World Bank
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    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Adaptation to Climate Change ; Biodiversity ; Climate Change ; Economic Forecasting ; Economic Growth ; Environment ; Environmentally Protected Areas ; Food Prices ; Macroeconomics and Economic Growth ; Nature-Based Tourism ; Poaching ; Private Sector ; Protected Areas
    Abstract: The Rwandan economy continued to achieve strong growth in 2022 in the face of weakening external demand and restrictive monetary policies required to control inflation. Rising food prices particularly affected the poor, who devote a large share of their spending to food and appear to have faced higher food inflation than richer households did. Growth is expected to decline somewhat in 2023 and then to recover closer to historical rates over the medium term. Tourism is a major source of Rwanda's foreign exchange earnings and tends to generate a higher proportion of formal sector jobs than other sectors and could make a substantial contribution to growth. Within tourism, strengthening the provision of nature-based tourism, which accounts for eight percent of leisure and conference visitors in Rwanda would also help protect biodiversity and advance Rwanda's efforts to adapt to climate change. Nature-based tourism faces significant challenges, including potential limits on expansion of revenues from one of the primary international attractions - gorilla trekking, degradation of the natural assets that underpin the sector, risks presented by infectious diseases, habitat change and overexploitation, and the impact of climate change on tourism demand. Key measures to promote nature-based tourism will need to include expanding the network of protected areas and improving management of the natural assets within and outside protected areas and diversifying the nature-based tourism's offering while complementing efforts to diversify tourism activities. Efforts are required to enhance revenue sharing mechanisms to increase incentives for local communities to conserve natural assets and unlock new opportunities and community-led enterprises that generate revenue from tourism and sustainable management of natural resources, including forests. This is essential to address poverty, to mitigate poaching threats, other illegal activities, and reduce unsustainable exploitation of resources. It is also imperative to secure private sector participation in financing and operation of facilities by introducing innovative financing methods to secure the necessary investment, strengthening capacity and management of tourism facilities and services, and removing subsidies that contribute to environmental degradation
    DOI: 10.1596/39470
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    Bulgaria Country Economic Memorandum : A Path to High Income (2023)
    Washington, D.C : The World Bank
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    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Growth ; Human Capital ; Investment and Investment Climate ; Macroeconomics and Economic Growth ; Private Investment ; Productivity Growth ; Public Investment
    Abstract: Bulgaria has followed sound macroeconomic policy in recent years and has weathered the Covid-19 economic crisis relatively well. The country embarked on a thorough transformation to a functioning market economy in the run-up to European Union (EU) membership in 2007 which, since 2018, has been followed by a firm course towards eurozone entry. But income convergence to average EU levels has been held back by low pre-crisis economic growth averaging only 2.1 percent in 2010-2019. At pre-Covid-19 crises growth rates, Bulgaria is not expected to converge to average EU income levels in the foreseeable future. The average income level masks substantial regional inequalities which continue to widen and undermine human capital formation and growth. A key constraint that can be seen in all growth policy areas, and also limits the pace of greening of the Bulgarian economy, is weak governance capacity and institutions. This report is organized around the World Bank long-term growth model (LTGM) which allows to simulate Bulgaria's growth path under different scenarios. The structure of the report focuses on the key identified constraints to and opportunities for Bulgaria's faster long-term economic growth and income convergence. The report discusses complementary policy areas when needed and refers to related studies for more in-depth analysis and policy options in these cases
    DOI: 10.1596/38566
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    Kazakhstan Economic Update, Spring 2023 : Economic Recovery During Challenging Times (2023)
    Washington, D.C : The World Bank
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    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Growth ; Economic Sanctions ; Financial Sector ; Fiscal Policy ; Inflation ; International Economics and Trade ; Macroeconomics and Economic Growth ; Trade ; Trade and Regional Integration
    Abstract: Kazakhstan's economy is set to experience a moderate growth acceleration, with real GDP forecast to rise by 3.5 percent in 2023 and 4 percent in 2024, propelled by the hydrocarbons sector, as oil production increases. Inflation has surged to its highest level since the late 1990s due in part to wage increases across sectors and crisis-related fiscal measures. Inflation is expected to remain high in 2023 due to elevated food prices and prices of imported intermediate goods. The outlook for growth faces several downside risks. Any further disruptions to the operation of the Caspian Pipeline Consortium could lead to losses in production volumes and fiscal revenues, posing downside risks to growth. The persistent high domestic inflation is a serious challenge, particularly for the most vulnerable households, and could potentially amplify the risk of social tensions. Additional tightening of global financial conditions due to geopolitical tensions, energy crisis, and high inflation may pressure the exchange rate, leading to potential capital flow volatility
    DOI: 10.1596/39933
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    Opening Opportunities : The Economic Cost of Gender Gaps in Entrepreneurship in Indonesia (2023)
    Washington, D.C : The World Bank
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    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Women in Development and Gender Study
    Keywords: Economic Cost ; Economic Growth ; Female Entrepeneurship ; Gender and Development ; Gender and Economics ; Gender Gaps ; Macroeconomics and Economic Growth ; Women
    Abstract: This report examines the state of female entrepreneurship in Indonesia, outlines major binding constraints and gender gaps, and highlights the untapped potential that could be realized if key barriers were lifted. The report draws on quantitative analysis of household- and firm-level surveys, the collection and review of qualitative work with male and female entrepreneurs across the country, a review of global evidence on gender and entrepreneurship, and analysis of relevant policies, laws, and regulations in Indonesia. The report also offers a novel analysis of the potential economic dividends from closing gender gaps in business performance in Indonesia
    DOI: 10.1596/39912
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    Gabon Economic Update, April 2023 - Special Topic : Reforming Fossil Fuel Subsidies (2023)
    Washington, D.C : The World Bank
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    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: CEMAC ; Economic Forecasting ; Economic Growth ; Energy Sector Regulation ; Fossil Fuel Subsidies ; Fuels ; Hydrocarbon Prices ; Inflation ; Macroeconomics and Economic Growth ; Social Safety Nets
    Abstract: 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 outlook and risks for Gabon's future growth. It presents policy actions that could help strengthen fiscal and debt sustainability, contain food inflation, and sustain a resilient growth path. The second chapter of this year's Economic Update has a special focus dedicated to fossil fuel subsidies, which represent a growing fiscal burden in Gabon. This chapter analyzes the costs of fuel subsidies and discusses policy options for alleviating their fiscal impact while protecting the most vulnerable groups in the country
    DOI: 10.1596/39907
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    Pacific Economic Update, August 2023 : Recovering in the Midst of Uncertainty - Special Focus: Harnessing the Benefits of Pacific Migration (2023)
    Washington, D.C : The World Bank
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    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Benefits ; Human Capital ; Integration ; International Economics and Trade ; International Migration ; Job Markets ; Labor Markets ; Migration ; Poverty Reduction ; Social Protections and Labor ; Welfare
    Abstract: 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 expected. Given that all Pacific countries are net importers, this has resulted in persistently high imported inflation. The speed of monetary policy tightening by major central banks has slowed, but easing is unlikely in the near term. Aggregate demand in major trading partners of the Pacific (particularly Australia and New Zealand) remains lackluster. This could limit demand for travel and tourism services and other income sources such as remittance and commodity exports. Despite uncertainties in the global economic recovery, Pacific economies are expected to see ongoing expansion in 2023 and 2024. Fiji led the Pacific's post-COVID-19 recovery with open borders and a strong rebound in 2022 and is now on track to reach its pre-pandemic output level in 2023. Ongoing recovery expectations in the Pacific are broadly in line with March 2023 World Bank projections except for Tuvalu and Palau, where growth has been revised down given weaker than expected outcomes in construction and tourism. In 2023, Pacific growth is expected to reach 3.9 percent and then moderate to 3.3 percent in 2024 as the initial post-COVID-19 rebound dissipates and the region moves towards its long-term trend growth of 2.6 percent. Nonetheless, uncertainty remains high and depends on whether a soft landing can be achieved among key trading partners as they battle ongoing inflation. Inflation remained stubborn across the Pacific at an average of over 6.7 percent in 2022, a substantial increase from the 1.5 percent average during 2019-2021. This has increased the risk of vulnerable populations falling into poverty. In line with global trends, Pacific inflation is expected to decline to an average of 6.0 percent in 2023 and gradually subside thereafter
    DOI: 10.1596/40146
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    Towards Better Labor Migration Systems in Northern Central America : Overview of Findings from El Salvador, Guatemala, and Honduras (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other ESW Reports
    Keywords: Foreign Labor Markets ; International Access ; Labor Markets ; Labor Migration ; Legal Framework ; NCA Countries ; Poverty Reduction ; Social Protections and Labor
    Abstract: This note aims to close the knowledge gap about the effectiveness and capacity of labor migration sending systems in NCA countries. The report assesses whether NCA countries have the fundamental elements of an effective labor migration sending system, identifies the missing elements, and offers recommendations for strengthening the systems over time. Filling such a knowledge gap is critical to inform policies that maximize the benefits and minimize the costs of economic migration. Programs and policies that help expand legal pathways for regular migration will not only promote mutually beneficial migration, but could be a step, albeit small, towards dissuading individuals from pursuing risky migration patterns. Indeed, evidence from Mexico indicates that investing in legal labor pathways can reduce irregular migration (Clemens and Gough, 2018). In this context, this note summarizes the main findings from three institutional diagnostics of the labor migration sending systems in NCA countries, with a view to deepening the understanding of the supply side of labor flows. To this end, and building on previous World Bank experience globally, a diagnostic tool was developed to identify what steps the NCA governments have taken to recognize and respond to foreign demand for workers. The tool examines if appropriate structures, systems, processes, and resources exist to prepare and deliver adequate labor supply arrangements in the context of bilateral agreements (BLAs) or Temporary Work Agreements (TWAs) with other countries. The diagnostic tool is organized around four main pillars to regulate, facilitate, fortify, and further access of labor migrants to international labor markets
    DOI: 10.1596/40131
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    Kenya Country Economic Memorandum : Seizing Kenya's Services Momentum (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Country Economic Memorandum
    Keywords: Competition ; Economic Growth ; ICT Applications ; Inclusion ; Increased Productivity ; Information and Communication Technologies ; Linkages ; Macroeconomics and Economic Growth ; Services Sector ; Technology ; Trade
    Abstract: Kenya's economy has been growing solidly but maintaining and increasing growth will depend on increasing private investment and productivity. Between 2010 and 2019, Kenya maintained a steady annual growth rate of 5 percent and the economy was able to rebound relatively rapidly from the COVID-19 pandemic. However, productivity growth did not make much of a contribution to output growth, and growth has been lower than that of some other, fast-growing middle-income countries. This points to the potential for Kenya to increase growth via productivity gains, by expanding the role of the private sector and, especially, accelerating private investment. Doing this has become more urgent as the Government's fiscal space to invest has shrunk, making it crucial also for the sustainability of growth to identify new opportunities for the private sector to contribute. This Country Economic Memorandum (CEM) focuses on the question of how seizing opportunities in Kenya's services sector can contribute more effectively to long-term economic growth. This report argues that growing the services sector should not be seen as an alternative to industrialization, but rather as an enabler of economy-wide growth, including in manufacturing, and in agriculture too. It focuses on five channels through which services contribute to jobs, economic transformation and inclusion: (i) the need to SHIFT the services sector to higher value-added activities; (ii) how to LINK services better to other economic activities to grow its enabling role; (iii) how to BOOST the productivity of the sector through technology and increasing competition; (iv) how to TRADE more services through removing regulatory barriers to trade and investment; and finally (v) how to SECURE people's economic livelihoods better, especially those working in lower-skilled and economically more vulnerable services subsectors. Growing the contribution of services will require a program of structural reforms and complementary efforts
    DOI: 10.1596/40115
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    Equatorial Guinea Economic Update, 1st Edition : Reforming Fossil Fuel Subsidies (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: CEMAC ; Economic Growth ; Energy ; Fossil Fuel Subsidies ; Fuels ; Hydrocarbon Sector ; Macroeconomics and Economic Growth ; Social Safety Net ; Taxation and Subsidies
    Abstract: This is the first edition of the Economic Update for Equatorial Guinea. This report presents recent economic developments in Equatorial Guinea as well as the medium-term economic outlook and risks (Chapter 1), followed by a detailed exploration of a specific topic (Chapter 2). This edition focuses on fuel subsidies and advises on fuel subsidy reform options and mitigation measures by drawing on lessons from international experience. The objectives of the Equatorial Guinea Economic Update are to: (i) strengthen the analytical underpinnings of the policy dialogue; and (ii) contribute to an informed debate on policy options to enhance macroeconomic management and development outcomes
    DOI: 10.1596/40105
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    Global Economic Prospects, June 2023 (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (182 pages)
    Parallel Title: Erscheint auch als
    Keywords: Commodity Prices ; Developing Countries ; Developing Economies ; Economic Growth ; Economic Prospects ; Emerging Markets ; Global Economy ; International Trade ; Trade Protectionism
    Abstract: Global growth is projected to slow significantly in the second half of this year, with weakness continuing in 2024. Inflation pressures persist, and tight monetary policy is expected to weigh substantially on activity. The possibility of more widespread bank turmoil and tighter monetary policy could result in even weaker global growth. Rising borrowing costs in advanced economies could lead to financial dislocations in the more vulnerable emerging market and developing economies (EMDEs). In low-income countries, in particular, fiscal positions are increasingly precarious. Comprehensive policy action is needed at the global and national levels to foster macroeconomic and financial stability. Among many EMDEs, and especially in low-income countries, bolstering fiscal sustainability will require generating higher revenues, making spending more efficient, and improving debt management practices. Continued international cooperation is also necessary to tackle climate change, support populations affected by crises and hunger, and provide debt relief where needed. In the longer term, reversing a projected decline in EMDE potential growth will require reforms to bolster physical and human capital and labor-supply growth
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    Voices from Yemen (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2209
    Keywords: Agriculture ; Armed Conflict ; Children and Education ; Civil War ; Conflict ; Conflict and Development ; Displacement ; Food Security ; Food Unaffordability ; Health and Poverty ; Health, Nutrition and Population ; Humanitarian Response ; Limited Health Care ; Living Costs ; Living Standards ; Poverty Reduction ; Reduced Food Intake ; Repeated Shocks
    Abstract: This report highlights respondents' lived experiences during Yemen's conflict as experts of their own experiences. This report aims to present the voices of Yemenis who have now spent eight years living through a civil war, economic crisis, and close to famine. This report is among the few authentically capturing Yemeni voices on a range of day-to-day issues from different governorates across the country. But arguably the small sample size limits ability to generalize findings. However, generalizing findings was not the intention of the report. For each theme, 'Voices from Yemen' presents a multi-stakeholder perspective to mitigate bias towards a single stakeholder group or geographical area. Moreover, the report's findings are in line with those in quantitative reports, such as 'Surviving in the Times of War' or the 'World Bank Phone Survey' report on food security. 'Voices from Yemen' presents a comprehensive picture of suffering derived from human stories behind the statistics. The conflict has made Yemeni lives unaffordable, uncertain, vulnerable, and often unbearable. The power of people's speech and the intensity of their stories narrate their grave vulnerabilities and the sense of helplessness and suffering the conflict has caused
    DOI: 10.1596/40351
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    Taking Stock, March 2023 : Harnessing the Potential of the Services Sector or Growth (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Digital Technologies Adoption ; Economic Forecasting ; Economic Growth ; Macroeconomics and Economic Growth ; Manufacturing ; Services Sector ; Skills
    Abstract: The services sector has been a critical contributor to economic growth in Vietnam but its performance lags comparators The services sector has been the economy's largest sector for the past decade. Looking ahead, services could play a crucial role in supporting Vietnam to sustain productivity growth and achieve its ambition to become a high-income economy by 2045. However, the performance of Vietnam's services sector lags peer countries. Small scale of firms, restrictions to services trade, low technological adoption and few inter-sectoral linkages affect productivity. Based on the preliminary analysis presented in this report, the four broad policy directions can be identified. First, Vietnam could further reduce restrictions to services trade and foreign investment. Second, Vietnam should encourage further adoption of digital technologies within firms to spur innovation. Third, focus should be on strengthening workers skills especially basic digital skills and the capabilities of firms and managers. Lastly, Vietnam should leverage services to promote further growth of other sectors, especially manufacturing
    DOI: 10.1596/39524
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    Malaysia Economic Monitor, February 2023 : Expanding Malaysia's Digital Frontier (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Banking Sector ; Economic Forecasting ; Economic Growth ; Financial Economics ; Inflation ; Labor Market ; Macroeconomics and Economic Growth
    Abstract: Global growth has slowed markedly, edging closer to falling into recession. Meanwhile, growth in the East Asia and Pacific (EAP) region, excluding China rebounded, diverging from the global trend, as mobility restrictions were removed. Malaysia's growth during the quarter was also the highest relative to other regional countries. Like its regional peers, the Malaysian economy bucked the global trend and recorded a strong growth in Q3 2022. Malaysia's strong performance in Q3 2022 - and for 2022 overall - was in part due likely to the withdrawals from the employee's provident fund (EPF) which contributed to higher private consumption in Malaysia than in other countries. In addition, improved labor market conditions, other government policy measures such as the increase in the minimum wage and cash assistance programs such as Bantuan Keluarga Malaysia provided additional support. On the supply side, all economic sectors expanded during the period
    DOI: 10.1596/39438
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    Indonesia Economic Prospects : Trade for Growth and Economic Transformation (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Development ; Economic Forecasting ; Economic Growth ; Fiscal and Monetary Policy ; International Trade ; Macroeconomics and Economic Growth ; Public Spending ; Social Assistance ; Tax Reforms ; Transformation
    Abstract: The Russia-Ukraine war has disrupted global trade and supply chains, exacerbating the rise in global commodity and food prices. Persistently high global inflation accompanied by tepid growth brings fears of stagflation that could endure for several years. Amidst this environment, the US Federal Reserve and other advanced economy central banks sharply tightened monetary policy to curb inflation. This has translated into tighter external financing conditions and financial stress for some emerging markets and developing economies (EMDEs) as capital outflows have intensified. Despite global slowdown, Indonesia has experienced strong growth in 2022 thanks to commodity windfalls and a reopening of the economy. Indonesia's external vulnerability has been low to moderate as strong exports have supported the external balance although tighter global finances have put some pressure on the capital account. Indonesia is projected to have a robust growth over the next three years though with significant downside risks emanating from the global economic environment. To address current macrofiscal policy challenges, the report highlights three policy and institutional areas that may warrant attention going forward. The first is about continuing with the implementation of tax reforms to broaden the tax base and improve compliance of business tax collection. The second is related to public spending where the authorities could over time move towards a rules-based pricing model for energy to contain subsidy pressures. The third is improving targeting and expanding coverage of existing social assistance and social insurance programs. This means filling coverage gaps, developing a system that provides a guaranteed minimum protection across the lifecycle, and strengthening delivery systems
    DOI: 10.1596/38451
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    World Bank Group Support to Somalia, Fiscal Years 2013-22 - Country Program Evaluation (Approach Paper, March 2, 2023) (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: IEG Evaluation
    Keywords: Climate Change ; Development Challenges ; Economic Growth ; Food Insecurity ; Macroeconomics and Economic Growth ; Natural Disasters
    Abstract: Somalia is today among the poorest and most fragile countries in the world, facing myriad development challenges related to ongoing conflict, climate change, food insecurity, natural disasters, and displacement. Overlapping crises related to the COVID-19 pandemic, a prolonged drought, and macroeconomic shocks from rising food and fuel costs have worsened socioeconomic conditions (World Bank 2022). Seventy-one percent of Somalis lived in extreme poverty in 2021, compared with 28 percent for Sub-Saharan Africa (World Bank 2021). Average life expectancy was 57.4 years, and maternal mortality stood at 734 for every 100,000 births (World Bank 2018d). The country's Sustainable Development Goal ranking was 160th out of 163. The Somalia Country Program Evaluation (CPE) will assess the evolution of the World Bank Group's support over fiscal years (FY)13-22 and the extent to which the Bank Group adequately prepared for an eventual normalization of relations with Somalia, tailored its support to the conflict and fragility situation in Somalia and evolving circumstances and country priorities, and learned from experience. It will seek to inform the preparation of the next Somalia Country Partnership Framework (CPF) and may be relevant to broader Bank Group engagement in countries affected by fragility, conflict, and violence (FCV)
    DOI: 10.1596/39575
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    The Future of Pacific Tourism (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: General Economy, Macroeconomics, and Growth Study
    Keywords: COVID-19 ; Economic Development ; Economic Growth ; Higher Value Markets ; Macroeconomics and Economic Growth ; Obstacles ; Pacific ; Policies ; Tourism
    Abstract: Over the two decades preceding the Coronavirus disease 2019 (COVID-19) pandemic, tourism became one of the most important drivers of economic growth across the Pacific. The COVID-19 crisis had a devastating impact on tourism activity in the Pacific, with severe and potentially durable economic and social consequences. This study takes a fresh look at tourism's role for development in the Pacific, its future after COVID-19, and the scope to foster a greener, more resilient, competitive, and inclusive sector. It complements and builds on the 2016 Pacific possible report, which assessed specific opportunities to increase arrivals in a context of rapid tourism growth, by considering the changes to the industry's model that could maximize tourism's economic, social, and environmental benefits for Pacific Islanders. It does this by: (i) taking stock of the evidence on tourism's historical contribution to development in the Pacific Island Country (PICs) and of the COVID-19 crisis' impacts, (ii) analyzing current obstacles and potential opportunities for a more competitive and sustainable Pacific tourism, focusing on selected issues key to target higher value markets, and (iii) recommending policy priorities and investment needs to (re)position the Pacific tourism model for the future and broaden its benefits, focusing on competitiveness, environmental sustainability, resilience and inclusiveness. Given the scarcity of data on Pacific tourism and frequent discrepancies across sources, one of the study's main contributions is to provide a detailed quantitative assessment of the sector and its economic impacts, for instance on jobs, poverty, and public revenue, based on an extensive data collection, cross-checking and integration exercise
    DOI: 10.1596/39738
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    Macro Poverty Outlook for Azerbaijan : April 2023; Datasheet (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Poverty Assessment
    Keywords: COVID-19 ; Economic Growth ; GDP ; Macroeconomics and Economic Growth ; Pandemic
    Abstract: In Azerbaijan, economic growth was 4.6 percent in 2022, driven by non-energy sectors supported by recovering demand and fiscal expansion. Inflation accelerated sharply to 13.8 percent, driven by import prices. In the medium-term, growth is expected to moderate as non-energy sector growth returns to pre-COVID levels while the energy sector shrinks further. Risks to this outlook are balanced. This Macro Poverty Outlook presents GDP, debt and fiscal forecasts and examines the implications for critical economic and social concepts such as growth, poverty reduction and macroeconomic stability
    DOI: 10.1596/39662
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    Myanmar Economic Monitor, June 2023 : A Fragile Recovery - Special Focus on Employment, Incomes and Coping Mechanisms (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Growth ; Financial Sector ; Fiscal and Monetary Policy ; Fiscal Deficit ; Foreign Direct Investment ; Inflation ; Macroeconomics and Economic Growth
    Abstract: Following the significant volatility that characterized much of 2022, economic conditions in Myanmar have shown tentative signs of stabilization in the first half of 2023. The parallel market exchange rate remained broadly stable between January and May, albeit 27 percent lower against the US dollar than in June 2022 and depreciation pressures appear to have reemerged in recent weeks. In the medium-term, the deep contraction in 2021, the ensuring weak and uneven recovery, and increasing policy distortions will leave the economy permanently scarred. Many of the trends observed at household, firm and industry levels are likely to damage the productive capacity of the economy, in addition to their direct impacts on welfare and inequality. Increased reliance on coping mechanisms such as asset sales and reduced spending on health, education and agricultural inputs will curtail the longer-term earnings capacity of households. There has been little evidence of productivity-enhancing structural transformation in recent years; instead, more highly educated workers have moved into agriculture and away from higher productivity activities. Migration in recent years has been mostly forced, lowering the potential for income and productivity gains with recent migrants across states and regions within Myanmar tending to be worse off across various welfare indicators. And while interventionist measures to promote import substitution and self-sufficiency can generate employment and activity in the short term, in the long run, growth is likely to suffer as resources move toward activities that are less compatible with local factor endowments, and as the scope for productivity gains from specialization and exposure to international competition diminishes. Increased out-migration of more skilled workers and the sharp slowdown of foreign investment inflows will further constrain Myanmar's prospects for development over the longer term
    DOI: 10.1596/39938
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    Cambodia Economic Update, May 2023 : Post-COVID-19 Economic Recovery (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: COVID-19 ; Economic Growth ; Finance and Financial Sector Development ; Macroeconomics and Economic Growth ; Pandemic ; Public and Municipal Finance ; Public Spending
    Abstract: Cambodia's economic recovery solidified in 2022 with real growth accelerating to 5.2 percent. After shifting to "living with COVID-19" in late 2021, the economy is firmly on a path to recovery and has now returned to its pre-pandemic growth trajectory. Initially led by the strong performance of export-oriented manufacturing, growth drivers are rotating to the services and agriculture sectors. Meanwhile, the agriculture sector is benefitting from improved access to regional markets, thanks to newly ratified bi-lateral and regional free trade agreements. Weakening external demand is, however, starting to weigh on the country's economic recovery. Despite weakening goods export performance, the current account balance is improving, thanks to the rebound in the travel and tourism industry and remittances, while the oil price shock eased. The economic recovery and good revenue administration underpinned an across-the board improvement in domestic revenue collection. The authorities continued to provide cash transfers for poor and vulnerable households, although the worst of the pandemic is now behind us. In this regard, the Cambodian authorities have extended the COVID-19 cash transfer program, with an additional budget. To enhance the long-term resilience and competitiveness of the economy, efforts are needed to further promote export product diversification
    DOI: 10.1596/39931
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    Republic of Congo Economic Update, 10th Edition, June 2023 : Reforming Fossil Fuel Subsidies (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Adaptation To Climate Change ; Economic Growth ; Environment ; Fossil Fuels Subsidies ; Hydrocarbon Prices ; Inflation ; Macroeconomic Growth ; Macroeconomics and Economic Growth ; Non-Performing Loans ; Social Safety Nets ; Transport Sector
    Abstract: 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 recent economic developments and macroeconomic outlook and risks. It also includes policy actions that could help strengthen fiscal and debt sustainability, contain food inflation, and sustain economic recovery. The second chapter discusses fossil fuel subsidies, which represent a significant fiscal burden in the Republic of Congo
    DOI: 10.1596/39923
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    An Operational Approach to Enhancing Women's and Girls' Empowerment in World Bank Projects (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Women in Development and Gender Study
    Keywords: Empowerment ; Equity and Development ; Gender ; Gender and Development ; Gender Equality ; Poverty Reduction ; WGE ; Women and Girls ; World Bank Projects
    Abstract: Gender equality has long been central to the World Bank's twin goals of ending extreme poverty and boosting shared prosperity in a sustainable manner. More recently, women's and girls' empowerment (WGE) has become a priority in the Africa region in the context of the region's demographic transition. There has been a proliferation of World Bank projects with development objectives that include "empowerment", yet there remains a lack of consensus around its definition and operationalization. This note lays out a pragmatic Operational Approach to enhancing women's and girls' empowerment in World Bank projects. It is not intended to provide a new definition of empowerment or to present a new framework. Instead, the objective of the note is to translate widely accepted empowerment concepts into an operational approach to WGE that Bank Task Team Leaders (TTLs) can use in their project and ASA work. The approach includes: (i) a systematic way to analyze constraints to achieving WGE in the context of lending or analytical products; (ii) a list of potential intervention areas within the three empowerment pillars that can be integrated into World Bank projects; and (iii) guidance on how to incorporate the operational approach to WGE into project design
    DOI: 10.1596/40110
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    Mozambique Poverty Assessment, June 2023 : Poverty Reduction Setback in Times of Compounding Shocks (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Poverty Assessment
    Keywords: COVID-19 ; Economic Forecasting ; Environmental Shocks ; Fiscal System ; Macroeconomics and Economic Growth ; Poverty and Equity ; Poverty Reduction ; Urban Areas
    Abstract: This report relies on several data sources. The main source providing the poverty, inequality and labor figures herein is the 2019/20 Household Budget Survey (Inquerito sobre Orcamento Familiar, IOF2019/2020) conducted by the National Statistical Institute (Instituto Nacional de Estatistica, INE) starting in November 2019 and spanning 13 months. The survey's sample was drawn from the 2017 Census and allows for poverty figures to be representative at national and provincial as well as rural and urban levels. The fieldwork included data collection from 13,297 households interviewed across four quarters as in previous surveys, to account for seasonality effects like the impact on households' consumption of relatively more abundant post-harvest periods. The starting point for the analysis is chapter 1, which synthesizes progress in reducing poverty between 2014-15 and 2019-20. This chapter also looks at the regional distribution of poverty, the impact of the pandemic, multidimensional poverty, the profile of the poor, changes in the responsiveness of poverty to growth, discusses trends in non-monetary dimensions of wellbeing, and simulates future poverty trends. Chapter 2 examines the distribution of growth and inequality reduction over the period, the pandemic's impact, discusses the growth-poverty-inequality relationship, assesses the spatial dimensions of poverty, and estimates the Human Opportunity Index for Mozambique. Chapter 3 focuses on labor markets and provides insights into labor force participation, unemployment, underemployment, employment sectors, child labor, and labor market demand conditions. Chapter 4 presents a fiscal incidence analysis and information on transfers. Chapter 5 examines the relevance of environmental shocks, assesses the impact of weather events on agricultural production and night-time light radiance in urban areas. It also models poverty and distributional impacts of climate change shocks and presents findings on climate change literacy in Mozambique. Finally, chapter 6 discusses a variety of policy implications
    DOI: 10.1596/40106
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    Sailing Rough Seas : Accelerating Growth and Fostering Resilience to Climate Change in Cabo Verde (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Adaptation to Climate Change ; Climate Change ; Disaster Risks ; Economic Growth ; Environment ; Macroeconomics and Economic Growth ; Resilience
    Abstract: Cabo Verde is a young, small, and vibrant island nation with an open economy. Rising above its daunting geographical challenges and limited endowments, the country is a story of economic success. Reforms to the rule of law and the market have prompted significant economic and social progress since the country's independence from Portugal in 1975, leading to democratic and macro-economic stability. Its robust, albeit highly volatile, economic growth has been driven by tourism, remittances, and foreign direct investment, enabled by structural reforms and social and political stability. Despite remarkable social and economic progress, Cabo Verde's development model has been showing signs of fatigue since the 2008 global financial crisis. To guide Cabo Verde in meeting these challenges, this Country Economic Memorandum (CEM) contains two modules: (1) empowering complementary engines of growth; and (2) fostering the resilience of growth to disaster and climate-related shocks. The CEM benchmarks Cabo Verde's performance against other Small Island Developing States (SIDS), structural peers (Samoa, Sao Tome and Principe, and Vanuatu), and aspirational peers (Mauritius, Seychelles, St. Kitts and Nevis, and St. Lucia). Structural peers are countries that share similar economic characteristics and endowments, while aspirational peers are countries that have been able to grow faster and more sustainably than Cabo Verde, despite sharing similar structural conditions (Annex 1)
    DOI: 10.1596/40052
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    Crisis and Recovery : Learning from COVID-19's Economic Impacts and Policy Responses in East Asia (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other ESW Reports
    Keywords: COVID-19 ; Economic Forecasting ; Economic Growth ; Economic Impacts ; Employment ; Fiscal and Monetary Policy ; Fiscal Support ; Macroeconomics and Economic Growth ; Policies
    Abstract: More than three years after the first COVID-19 case was discovered in the East Asia and Pacific (EAP) region, it is time to take stock of the lasting effects-and opportunities-of the pandemic and identify which policies may have helped stem the economic losses suffered by households and firms. To do so, this regional report examines the economic impact of the COVID-19 pandemic on households and firms in six countries: Cambodia, Indonesia, Malaysia, Mongolia, the Philippines, and Vietnam. This volume examines: (a) the links between impacts on firms and households, in particular through the employment channel, and (b) governments' fiscal responses to the COVID crisis, through transfers, subsidies, and taxes. It identifies and explains changes in household well-being by examining the economic effects of the pandemic on labor markets. As the source of employment and wage income, businesses have a direct role in determining jobs and earnings, and, indirectly, welfare, poverty, and inequality. When faced with a shock, firms responded by adjusting employment, reducing wages, increasing prices, and reducing services provided. All of these channels directly affected households' wellbeing. For this reason, the report focuses on firms in addition to households. Governments responded through various instruments, providing transfers and subsidies and lowering the tax burden to both households and firms
    DOI: 10.1596/39977
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    Moving from Traditional to Transformational Approaches to Women's Economic Empowerment - A Review of the KDRDIP Program (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Women in Development and Gender Study
    Keywords: CDD Livelihood Projects ; Economic Growth ; Ecosystem Approach ; Gender ; Gender and Development ; Gender Monitoring and Evaluation ; Kdrdip ; Macroeconomics and Economic Growth ; Women ; Women's Economic Empowerment
    Abstract: This paper aims to answer two important questions: how traditional CDD livelihood projects can adjust or adopt practices to strengthen women's economic empowerment outcomes, and how government and other development actors can employ an ecosystem approach to develop coordinated and sustainable local economic development on a larger scale. To answer these questions, the paper draws on a mixed-methods study of the Kenya Development Response to Displacement Impacts Project (KDRDIP), a traditional CDD livelihood program, along with an analysis of other WEE programs in the region and worldwide. The paper offers useful recommendations and insights for practitioners and policymakers
    DOI: 10.1596/40312
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    Timor-Leste Economic Report, July 2023 : Ways to Harvest Prosperity (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Agricultural Development ; Economic Forecasting ; Economic Growth ; Government Spending ; Inflation ; Macroeconomics and Economic Growth ; Oil Production
    Abstract: Timor-Leste's economy continued its recovery in 2022, expanding by 3.9 percent, fueled by public consumption and investment. Private investment rose from an exceptionally low level while net exports continued to be a drag on growth. Headline inflation soared in March 2023 at 9.6 percent, spurred by significant increases in food and non-food prices. High inflation is part of a global trend driven by prices of tradable goods. Within Timor-Leste, the government's policy of enforcing higher excise taxes on tobacco products, implementing import taxes, and applying excises to sugar and sugary beverages, partially drove the inflationary trend. To advance a reform agenda, the new government may want to consider institutionalizing fiscal consolidation through robust fiscal rules. Both revenue mobilization and expenditure rationalization efforts should not only be maintained but also enhanced. Given that significant increases in public spending have had a limited impact on Timor-Leste's medium-term economic growth, it is possible to sustain growth levels with a reduced budget
    DOI: 10.1596/40269
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    Iran Economic Monitor, Spring/Summer 2023 : Moderate Growth amid Economic Uncertainty - With a Special Focus: The Gendered Impact of the COVID-19 Crisis on the Labor Market in Iran (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: COVID-19 ; Economic Growth ; Economic Uncertainty ; Gender and Development ; Gender Monitoring and Evaluation ; Gendered Impact ; Labor and Employment Law ; Labor Market ; Law and Development ; Macroeconomics and Economic Growth ; Women
    Abstract: The Iran Economic Monitor (IEM) provides an update on key economic developments and policies. It examines these economic developments and policies in a longer-term and global context and assesses their implications for the outlook for thecountry. The IEM's coverage ranges from the macroeconomy to financial markets to indicators of human welfare and development. Iran's economy continued to grow moderately for the third consecutive year in 2022/23, albeit at a slower pace than in the previous year. Real gross domestic product (GDP) grew by 3.8 percent in 2022/23, driven by expansions in services and manufacturing. Despite sanctions, the oil sector also expanded, aided by the tighter global oil markets. Favorable weather conditions helped the agriculture sector to marginally grow after the contractionsin previous years. On the expenditure side, private consumption was the main driver of GDP growth. Government consumption contracted to contain the budget deficit following a sharp expansionary policy in 2021/22. Meanwhile, exports and importsboth increased, and strong investment in machinery drove investments up, while construction investment marginally improved. However, the economy continuesto face growth constraints notably related to the economic sanctions, restricted access to external markets and to the latest technology, and much needed foreign investment. The Special Focus of the report highlights the scarring effects of the COVID-19 pandemic, documenting the marked deterioration in labor market outcomes. Despite sizeable government interventions to sustain the economy, in the first year of the pandemic (2021/22), approximately 1 million Jobs were lost, and labor force participation contracted by 3 percentage points. Iranian women were the most affected: two out of three jobs lost between 2019/20 and 2020/21 were previously held by women. The gendered impact of the crisis contributed to widening Iranian's women disadvantage in the labor market. Most importantly, the gains in femalelabor force participation slowly accumulated since 2011 vanished. Consistent with what is observed in other countries, women with young children were the most affected by the crisis. The combined effect of school closures and unequal intra-household allocation of care responsibilities, associated with prevailing gender norms, pushed Iranian women with children out of the labor force. Whether or not these trends will be reversed as the management of the COVID-19 pandemic is normalized and the economy recovers from the crisis remains an important policy question
    DOI: 10.1596/40243
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    Social Cohesion and Forced Displacement : A Synthesis of New Research (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Social Protection Study
    Keywords: Conflict and Development ; Forced Displacement ; Host Communities ; Inequality ; Living Standards ; Poverty Reduction ; Social Cohesion ; Social Conflict Prevention
    Abstract: This report presents new evidence from 26 background studies on forced displacement and social cohesion to expand the current knowledge base on how to prevent social conflict and promote social cohesion in forced displacement contexts. The background studies are geographically and methodologically diverse. They examine social cohesion in a variety of low-, middle-, and high-income countries across Africa, Asia, Central, and South America, and Europe. Building on this new evidence, the report provides lessons on how development investments and policies can reduce inequalities, alleviate social tensions, and promote social cohesion between and within displaced populations and host communities. Overall, the findings demonstrate that, while displacement can exacerbate existing inequalities and create new inequalities and the potential for conflict, especially in areas with strained services and limited economic opportunities, inclusive policies and development investments can effectively mitigate the negative effects of displacement and promote social cohesion
    DOI: 10.1596/38431
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    Maldives Development Update, April 2023 : Navigating a Tight Line (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Growth ; Economic Outlook ; Fiscal Deficit ; Inflation ; Macroeconomics and Economic Growth ; Private Sector Lending ; Public DEBT
    Abstract: The economy has recovered to pre-pandemic levels and, with rising tourist arrivals, is expected to maintain a strong growth and poverty reduction trajectory over the medium term. Commodity price volatility is driving inflation and exerting pressure on fiscal and external balances, through costlier imports and higher subsidies. Despite recent improvements, public debt is expected to remain high, warranting continued efforts to reduce fiscal deficits, including comprehensive subsidy reforms while mitigating impacts on the vulnerable
    DOI: 10.1596/39627
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    Timor-Leste : Pathways to Economic Diversification; Country Economic Memorandum 2023 (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Country Economic Memorandum
    Keywords: Economic Diversification ; Economic Forecasting ; Economic Growth ; Inclusive Growth ; Macroeconomics and Economic Growth ; Private Sector ; Regional Integration
    Abstract: Timor-Leste has made important development gains since independence in 2002 but is now at a critical juncture. The government has successfully rebuilt public infrastructure, reduced poverty, and quickly built from scratch a network of functional public institutions. Despite these achievements, there is an urgent need for private sector-centered development that is not dependent on the oil sector. Receipts from sales of hydrocarbons have been the main source of government revenues, but their contribution to the economy is decreasing, raising the urgency for economic diversification. High public spending has not translated into strong and sustained economic growth. Furthermore, depleting oil reserves signal an urgency to reduce economic dependence on oil. The public sector-driven growth model has run its course and is fiscally unsustainable. The excessive public spending level led to an astronomical fiscal deficit of 45.3 percent of non-oil gross domestic product (GDP) in 2021. This fiscal stance entails significant risks that bring the country toward a damaging fiscal cliff in 2035. Albeit narrowing, there is a window of opportunity for the government to urgently implement the much-needed reforms in the next five years. There are several potential drivers for increased regional integration. These include the operationalization of the Tibar Bay port, the modernization of the Dili airport, the internet submarine cable installation, and the World Trade Organization (WTO) accession progress. Success requires a concerted and persistent government effort to address supply-side constraints, kick-start economic diversification, and boost export. This report provides an in-depth analysis of Timor-Leste's economic performance in recent decades and proposes policies to enhance growth. It highlights two key interrelated constraints to sustained and inclusive growth: the 'missing' private sector and the need to tap into the growth-enhancing benefits of international trade. Given the diminishing returns of public investments, pursuing a sustainable development path will require a shift toward a more dynamic, private sector-driven growth model. Furthermore, with the right combination of a supportive enabling environment and trade policies, Timor-Leste could capitalize on incipient and established comparative advantages for its exports. Accordingly, the reforms to support private sector development and expand exports have the potential to boost Timor-Leste's international competitiveness and improve economic diversification
    DOI: 10.1596/39780
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    Kosovo Public Expenditure Review (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Public Expenditure Review
    Keywords: Economic Growth ; Employment ; Finance and Financial Sector Development ; Financial Sector and Social Assistance ; Fiscal and Monetary Policy ; Macroeconomics and Economic Growth ; PER ; Poverty Reduction ; Public Spending ; Social Assistance ; Western Balkans
    Abstract: Kosovo has gained a creditable reputation for prudent macro-fiscal management; yet necessary structural reforms and related fiscal pressures lie ahead. The country's track record includes consistently high output growth rates, prudent fiscal deficits supported by fiscal rules, and one of the lowest public debt levels among peers. The Government was able to successfully weather the COVID-19 crisis and mitigate the impact of the ongoing inflationary crisis caused by the Russian invasion of Ukraine thanks to its healthy fiscal accounts and stable financial sectors. At the same time, however, the overlapping external shocks have highlighted the inherent volatility that mirrors Kosovo's structural limitations - especially in health, energy, and education - and accentuates gaps in both human and physical capital. The objective of this Public Expenditure Review (PER) is to help the government identify means for improving the structure and quality of public services, enhance the equity of government spending, and take a holistic view of policies that will affect financing needs over time. To do so, the PER has analyzed fiscal issues that have not been explicitly detailed in, or are in the process of being incorporated into, the medium-term expenditure framework and the economic reform program. The most notable issues include the urgently needed energy investments, the ramifications of the new law on public salaries on the budget, the sustainability of the untargeted social protection system, and possible pathways of the cost of pensions in light of expected changes to eligibility criteria, and the health spending and health financing conundrum. The PER also looks back at past World Bank PER recommendations and their implementation record, in the attempt to shine a light on measures that remain valid and could still be implemented
    DOI: 10.1596/39944
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    Gulf Economic Update, Spring 2023 : The Health and Economic Burden of Non-Communicable Diseases in the GCC (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Disease Control and Prevention ; Economic Growth ; GCC ; Gulf Cooperation Council ; Health, Nutrition and Population ; Inflation ; Macroeconomics and Economic Growth ; NCDS ; Non-Communicable Diseases
    Abstract: The Gulf Cooperation Council (GCC) economies performed strongly in 2022. Amidst a year of economic uncertainty marked by inflation, geopolitical crises, and supply chain insecurity, the GCC region registered remarkable GDP growth of 7.3 percent in 2022. Progress made on structural reforms are bearing fruits on the economy. Despite the uptick, inflation remains relatively muted in comparison to other high-income countries. Looking ahead, the GCC region is projected to grow at a slower pace. The main contributors to this growth are private consumption, fixed investments, and government expenditures through looser fiscal policy in response to high oil revenues. However, downside risks to the outlook are numerous. Special Focus: Non-Communicable Diseases (NCDs) pose a major health burden to the population and governments of the GCC. NCDs are also a growing concern from an economic perspective. To mitigate the health and economic burden of NCDs, the region needs to scale up efforts to target the behavioral and environmental risk factors of NCDs. Effectively addressing NCDs requires a whole-of-government approach, and the effective implementation and monitoring of targeted, evidence-based solutions. Addressing the risk factors of NCDs requires an increased strategic focus on prevention over treatment, targeting of the young and adolescents, and the development and implementation of evidence-informed, cost effective, high impact interventions. Governance structures that can effectively mobilize, incentivize, and hold accountable the many non-health sectors in the implementation and monitoring of cost-effective interventions are critical
    DOI: 10.1596/39932
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    Yemen Country Economic Memorandum 2022 : Glimmers of Hope in Dark Times (2023)
    Washington, D.C : The World Bank
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    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Country Economic Memorandum
    Keywords: Conflict ; COVID-19 ; Economic Forecasting ; Food Insecurity ; Inflation ; Macroeconomics and Economic Growth ; Poverty Diagnostics ; Poverty Reduction
    Abstract: Yemen's economy has been transformed by eight years of violent conflict. War has shattered the country's already fragile economic equilibrium, touching upon virtually every aspect of life. The compounded shocks of the COVID-19 pandemic and rising global prices have only deepened the economic and humanitarian disaster precipitated by the war. Since the start of the conflict, economic analyses have tended to focus on the deterioration of macroeconomic indicators, the sharp rise in poverty and food insecurity, and the destruction of infrastructure and the capital stock, but relatively little attention has been paid to the current structure of the economy or what prospects can be envisaged for the country. Also, it is important to situate this analysis within the political economy dynamics of the country which majorly affect the economic development challenges of the country. Data constraints and the unique characteristics of Yemen's recent experience limit the effectiveness of traditional growth-analysis methodologies. This Country Economic Memorandum (CEM) uses novel data-collection methods and analytical techniques, triangulating its findings with traditional approaches and direct data collection to close the economic knowledge gap. Information sources include extensive key-informant interviews, household phone surveys, and remotely sensed geospatial data based on satellite imagery, including nighttime illumination data. This CEM also combines an in-depth political economy analysis with economic development investigation
    DOI: 10.1596/39914
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    Western Balkans Regular Economic Report No.23, Spring 2023 : Testing Resilience (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Forecasting ; Economic Growth ; Energy Crisis ; Energy Markets ; Environmental Fiscal Measures ; Food and Energy Prices ; Inflation ; Macroeconomics and Economic Growth ; Western Balkans
    Abstract: 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 severe than expected. Inflation surged to a two-decade high in 2022 in almost all economies, and price pressures remain elevated in early 2023. Higher food and energy prices have affected low-income households especially severely, resulting in a much slower pace of poverty reduction in 2022 despite universal government support. In the medium term, the Western Balkans continues to have a positive outlook, but reforms are needed to rebuild buffers, accelerate the green transition, and to address key structural challenges. The ongoing energy crisis has highlighted the need to accelerate the green transition across Europe, including in the Western Balkans. A key starting point in this regard is to accelerate the move toward carbon pricing and to increase the use of environmental fiscal measures that incentivize households and firms to shift toward lower carbon intensity with respect to economic activity
    DOI: 10.1596/39890
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    International Finance Corporation Platforms Approach : Addressing Development Challenges at Scale - An Independent Evaluation (Approach Paper) (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: IEG Independent Evaluations and Annual Reviews
    Keywords: Development Challenges ; Economic Growth ; Finance and Development ; Finance and Financial Sector Development ; IFC Platforms ; Macroeconomics and Economic Growth ; SDGs
    Abstract: Recurring development challenges and new compounding crises affecting client countries and firms constrain the ambition of the International Finance Corporation (IFC) to contribute to attainment of the Sustainable Development Goals (SDGs) by 2030. The recurring challenges, including insufficient private sector participation in development financing, continue to affect emerging markets and developing economies and the firms within them. Two related initiatives-the IFC capital increase and the IFC 3.0 strategy-underpin IFC's goal to contribute to the SDGs by 2030. IFC's capital increase package was based on the IFC 3.0 strategy, which requires creating new markets through advisory and upstream services and mobilizing private capital from new sources and through new approaches (IFC 2017, 2018, 2020a). IFC has introduced a platforms approach to scale up its interventions in accordance with IFC 3.0 and the capital increase objectives. IFC defines platforms as thematic interventions-at a regional, global, or sectoral level-designed to address a specific development challenge (IFC 2022b). The main purpose of the evaluation is to assess whether the platforms approach offers IFC a means to achieve its capital increase and IFC 3.0 objectives while meeting the Board's and clients' expectations
    DOI: 10.1596/40147
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    China Economic Update, December 2022 : Navigating Uncertainty - China's Economy in 2023 (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Consumer Demand ; COVID-19 ; Economic Forecasting ; Economic Growth ; Low Inflation ; Macroeconomics and Economic Growth ; Unemployment ; Youth
    Abstract: Activity in China continues to track the ups and downs of the pandemic - outbreaks and growth slowdowns have been followed by uneven recoveries. After a downturn caused by the Coronavirus disease 2019 (COVID-19) outbreaks and stringent public health measures in April and May, activity picked up in the third quarter as infections receded. Gross domestic product (GDP) expanded by 3.9 percent y/y in Q3, from 0.4 percent in Q2. High frequency indicators suggest another growth slowdown in the fourth quarter amid a return of high COVID-19 cases. Despite fiscal and monetary policy support, real GDP growth is expected to slow to 2.7 percent in 2022 - 1.6 percentage points lower than projected in the June China economic update. In 2023 growth is projected to recover to 4.3 percent but remain below the potential rate
    DOI: 10.1596/39522
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    Testing the Resilience of the Turkish Cypriot Economy : A Macroeconomic Monitoring Note - Special Issue: Enhancing Competitiveness and Promoting Economic Integration (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Economic and Sector Work Reports
    Keywords: Economic Forecasting ; Economic Growth ; Economic Integration ; Halloumi ; Hellim ; Macroeconomics and Economic Growth ; Turkish-Cypriot ; Women and Youth
    Abstract: The Turkish Cypriot economy (TCe) has struggled to recover since the onset of the COVID-19 pandemic in early 2020. With a contraction of 16.2 percent in GDP in 2020, when the COVID-19 pandemic first took hold, the TCe experienced the most severe recession in its history, and the most severe recession among the economies of Europe. Moreover, just as other economies were beginning to recover, in 2021 the TCe underwent a phase of exceptional political uncertainty and numerous exogenous shocks, testing its resilience. With the emergence of new variants of the virus, the COVID-19 pandemic continued to adversely impact the TCe throughout 2021, with cases reaching a new peak at the end of 2021 despite the Turkish Cypriot (TC) administration's efforts to prevent the spread of the virus, together with its support for the health system, households, and companies. Furthermore, a new record low in average precipitation in 2021, a series of earthquakes at the beginning of 2022, and weak energy security, with a recent series of power outages experienced across the island, have all revealed the intrinsic vulnerabilities of the island to climate change and natural disasters. Building a competitive private sector would require reforming business regulations and procedures that are under the mandate of the TC administration, and that should be aligned with international best practices and the EU Acquis, irrespective of the broader context of the political economy. Special attention should be devoted to the regulation concerning imports and GL trade. Pre-permits and licenses imposed by the TC administration on imports, on top of regulatory uncertainty and other cumbersome procedures, contribute to increasing prices, penalizing consumers, and eroding domestic competitiveness. A dialogue framework between GC and TC private sectors could be established to support solutions to the long-standing constraints that have been impeding business cooperation across the GL, for the benefit of all Cypriots
    DOI: 10.1596/39503
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    Strengthening Financial Stability, Resilience and Safety Nets in the Pacific Islands : Compilation of In-Depth Papers (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Financial Sector Study
    Keywords: Banking Supervision ; COVID-19 ; Economic Growth ; Economic Stabilization ; Finance and Development ; Finance and Financial Sector Development ; Financial Stability ; Macroeconomics and Economic Growth ; Macroprudential ; Microprudential
    Abstract: Over the past two years, the World Bank has been working with Pacific Island Countries (PICs) to assess the impact of the COVID 19 pandemic on their financial systems and provide guidance to the PIC prudential authorities on policy issues relating to strengthening the resilience of financial systems in the region. As part of this work program, the World Bank produced a series of seven deep dive papers on a range of issues relating to financial stability in the PICs. Each paper was presented during an online workshop with the prudential authorities of the PICs and followed by a Questions and Answers session. The papers in the series are: COVID-19 and financial stability: guidance on financial system surveillance in the pandemic, COVID-19 and stress testing, micro prudential and macro prudential policy: seeking the right balance, early intervention in banking supervision, recovery planning for banks, bank resolution, and financial safety nets This volume pulls together these deep dive papers while being mindful that each paper stands on its own. Yet, an integrated approach is needed in all these policy areas, and it is vital to tailor reforms to country specific circumstances This recognizes that, even in a stable financial system there will inevitably be periods of financial stress and that there is a need to ensure that frameworks are in place to address these events cost-effectively and in ways that preserve market discipline, avoid moral hazard and minimize fiscal risks. Private
    DOI: 10.1596/39456
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    Jordan Economic Monitor, Fall 2022 - Public Investment : Maximizing the Development Impact (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Debt Management ; Economic Growth ; Financial Economics ; Fiscal and Monetary Policy ; Fiscal Developments ; Inflation ; Labor Market ; Macroeconomics and Economic Growth ; Monetary Policy ; Public Investment
    Abstract: Despite a challenging global environment, Jordan's growth exceeded expectations during the first half of 2022. Propelled by a strong rebound in international tourism, the full reopening of the economy, and improving exports, real GDP accelerated to 2.7 percent. However, the rebound in economic activity was only modestly reflected on labor market indicators with unemployment rates declining only gradually. Inflation has reached its highest level since 2018 but remains contained compared to regional peers, due to temporary fuel subsidies and a number of other price control measures introduced in 2022. Yet, the untargeted subsidy support came at a fiscal cost as fiscal consolidation adjustments have slowed down despite good tax performance. On the external front, elevated global commodity prices led to a significant rise in Jordan's import bill, outpacing the effect of the increased merchandise exports and tourism. Moreover, capital and financial inflows did not keep up with the widening current account deficit, resulting in a widening of the balance of payment deficit and a drawdown in foreign exchange reserves. Nonetheless, due to its substantial reserve buffers, the Central Bank's gross foreign reserves remained at an adequate level, while Jordan continues to retain investors' confidence and access to foreign financial markets. Jordan's economic recovery in 2022 is expected to be driven by a full rebound of the services sector, helped by the full reopening of the economy and a strong rebound in tourism. However, highly volatile global fuel and food prices are impacting both domestic consumption and the trade balance. Risks surrounding Jordan's outlook include a looming global economic downturn, prolongation of the global food and energy crisis, and the impact of higher borrowing costs and widening losses from state-owned water and electricity sectors on debt dynamics. The Special Focus highlights the role of public investment as a driver of growth, with a particular focus on its recent trends, as well as its efficiency and effectiveness. This is particularly relevant given Jordan's constrained fiscal envelope. Public investment spending has been suffering from a steady decline during the past two decades to meet the fiscal consolidation targets, consistent under-execution, large dependency on external aid and lack of budget for operation and maintenance cost. Its efficiency can be maximized by having in place financially realistic long-term strategic planning, transparent project selection and an adoption of a medium-term perspective. Purposefully integrating climate concerns in public investments would also advance the country's achievement of its climate targets
    DOI: 10.1596/38510
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    Algeria Economic Update, Fall 2022 : Staying the Course for Transition (2023)
    Washington, D.C : The World Bank
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    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Forecasting ; Economic Growth ; Economic Insecurity ; Hydrocarbon Revenues ; Inflation ; Macroeconomics and Economic Growth ; Non-Hydrocarbon ; Private Sector ; Resilience
    Abstract: The recovery continued in the first semester of 2022, supported by nonhydrocarbon activity and crude oil production. The continuing high level of global hydrocarbon prices prolonged the upturn of external balances. The budget deficit is expected to narrow moderately in 2022, as the strong increase in public expenditure compensates for most of the increase in revenues. The economic recovery should continue in 2023, supported by the nonhydrocarbon sector and public expenditure growth. The main risks to the macroeconomic outlook arise from fluctuations in global hydrocarbon prices, underscoring the importance of the Government's current reform program
    DOI: 10.1596/38472
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    The World Bank Group in Mozambique, Fiscal Years 2008-21 - Country Program Evaluation (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: IEG Evaluation
    Keywords: Access To Basic Services ; Agriculture ; Climate Change Impacts ; Economic Growth ; Environment ; Governance Indicators ; Macroeconomics and Economic Growth ; Sub-Saharan Africa
    Abstract: Between 1993 and 2013, Mozambique became one of the fastest-growing economies in Sub-Saharan Africa boosting incomes and living standards. Political and macroeconomic stability provided the foundation for robust growth led by a rebounding agricultural sector and significant donor support. Growth, however, decelerated beginning in 2016 in the face of low commodity prices, a hidden debt crisis, and natural disasters. In FY18, Mozambique was formally classified as a fragile country. The Covid-19 pandemic further eroded growth. In light of the country's evolving context, this Country Program Evaluation (CPE) reviews the World Bank Group's engagement in Mozambique over the period FY08 into FY21. The CPE assesses the extent to which the Bank Group's support was relevant to Mozambique's main development challenges and drivers of fragility as well as how Bank Group support evolved and adapted over time. The evaluation delves into four themes that are relevant to Mozambique's pursuit of the Bank Group's Twin Goals of Poverty Reduction and Shared Prosperity: (i) low agricultural productivity; (ii) unequal access to basic services; (iii) weak institutions and governance; and (iv) vulnerability to climate change and natural disasters. The evaluation presents findings from each of the four themes covered and distills lessons from Bank Group experience in Mozambique to inform future strategies and engagements
    DOI: 10.1596/39568
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    Indonesia Poverty Assessment : Pathways towards Economic Security (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Poverty Study
    Keywords: Aspiring Upper Middle-Income Goals ; Meeting Poverty Reduction Goals ; Poverty and Policy ; Poverty Assessment ; Poverty Diagnostics ; Poverty Reduction ; Poverty Reduction Strategy ; Poverty Reduction Targets ; PPP Poverty Line ; Pro-Poor Growth
    Abstract: Indonesia can build on its impressive track-record of poverty reduction to tackle more ambitious poverty reduction targets. Indonesia has made impressive gains in reducing poverty, with previously lagging regions catching up, and the Government's goal to eliminate extreme poverty by 2024 practically met. As an aspiring upper middle-income country, however, Indonesia may want to widen its focus beyond extreme poverty by moving from the USD 1.90 2011 PPP poverty line to higher lines for middle-income countries. The focus should also include economically insecure households susceptible to falling back into poverty. Is Indonesia's current effort ready for this challenge Human capital outcomes are disappointing and worrying geographic disparities remain. Low productivity still prevents households from becoming economically secure. Shocks, including from climate change, continue to threaten reversal in poverty gains. In this report the authors identify several major pathways to tackle these challenges in a comprehensive and sustainable manner
    DOI: 10.1596/39799
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    China Economic Update, June 2023 : Sustaining Growth through the Recovery and Beyond (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Carbon-Neutral ; Economic Growth ; Finance and Financial Sector Development ; Fiscal and Monetary Policy ; Fiscal Policy ; Household Incomes ; Housing Finance ; Inflation ; Labor Market ; Macroeconomics and Economic Growth ; Private Investment
    Abstract: Economic activity bounced back in Q1 2023 with the removal of mobility restrictions and a surge in spending on services. However, growth momentum has slowed since April, indicating that China's recovery remains fragile and dependent on policy support. China's GDP growth is projected to rise to a 5.6 percent in 2023, led by a rebound in consumer spending. The economic recovery offers an important opportunity for policymakers to refocus their efforts on achieving China's longer-term development objectives. Structural reforms remain crucial to solidify the recovery and achieve the longer-term goals to (i) become a high-income country by 2035 through productivity-led and environmentally sustainable growth; (ii) peak carbon emissions before 2030 and become carbon-neutral by 2060; and (iii) share the gains from economic growth more equally among the population
    DOI: 10.1596/39947
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    Tackling Noncommunicable Diseases in Kosovo to Enhance Human Capital and Economic Growth (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Policy Notes
    Keywords: Disease Control and Prevention ; Economic Growth ; Health, Nutrition and Population ; Human Capital ; Impact ; Macroeconomics and Economic Growth ; NCDS ; Noncommunicable Diseases
    Abstract: Noncommunicable diseases (NCDs) hamper the development of human capital for current and future generations. NCDs are chronic conditions that are often untreatable and require close monitoring to control the progression of the disease. They account for 70 percent of all deaths worldwide and directly affect countries' economies, as every 10 percent increase in mortality due to NCDs reduces economic growth by 0.5 percent. NCDs have a direct and indirect impact that threatens the human capital of current and future generations
    DOI: 10.1596/39936
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    Kenya Economic Update, June 2023 - Securing Growth : Opportunities for Kenya in a Decarbonizing World (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Adaptation To Climate Change ; Air Quality ; Carbon Footprint ; Climate Change Economics ; Decarbonization ; Economic Forecasting ; Economic Growth ; Environment ; Growth Prospects ; Inflation ; Low-Carbon ; Macroeconomics and Economic Growth ; Monetary Policy
    Abstract: 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 Kenya's potential GDP as well as of the pre-pandemic decade. The adverse weather shock of the last two years has been a major drag on economic growth, with growth in real GDP excluding agriculture standing at 6.3 percent in 2022. Besides, the impacts of tightening of domestic macroeconomic policies and challenging global financial conditions significantly hurt domestic economic activity, especially in the latter half of the year
    DOI: 10.1596/39930
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    The Initial Ten-Year Journey : Impact Assessment of Seoul Center Korea Trust Fund (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Financial Sector Assessment Program
    Keywords: EAP ; Economic Growth ; Finance and Development ; Finance and Financial Sector Development ; Financial Sector ; Macroeconomics and Economic Growth ; Private Sector ; Technical Assistance
    Abstract: The overarching objective of the Seoul Center for Finance and Innovation partnership was to improve and develop financial and private sectors in the East Asia and Pacific (EAP) region by delivering better technical assistance and advisory services to EAP countries. To achieve this objective, the Seoul Center provides grants to provide demand-driven, priority technical assistance and support capacity-building needs in EAP client countries. Since 2012, a total of 32 KTF grants have been allocated to 10 EAP countries and 2 regions (EAP and Global) in three phases. This limited scope impact assessment was undertaken on behalf of the Finance, Competitiveness, and Innovation Seoul Center Korean Trust Fund (KTF) in accord with an agreed term of reference. The purpose of this assignment is to carry out an independent impact assessment of select East Asia Pacific (EAP) country-level technical assistance and advisory grant funded projects completed over ten years from 2012 through 2022. The assessment of results realized focused on fifteen country-level TA and advisory KTF grant funded activities concluded by end-2022
    DOI: 10.1596/39909
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    Difference Maker : A Story of the Seoul Center Korea Trust Fund Impactin the East Asia and Pacific Region (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Financial Sector Assessment Program
    Keywords: DEBT ; Economic Forecasting ; Economic Growth ; Excessive Credit Growth ; Finance and Development ; Finance and Financial Sector Development ; Financial Inclusion Gaps ; Financial Sector Reform ; Macroeconomics and Economic Growth
    Abstract: The Republic of Korea's astonishing economic development commenced shortly after the end of the Korean war. Today, Korea is the world's tenth largest economy based on gross domestic product, a key development partner of the World Bank Group, an important contributor to the International Development Association, the fund established to support the world's poorest countries, and a unique international donor. Over the past decade, the East Asia and Pacific region has experienced significant economic growth and development. This has been especially evident in the financial sector. Nevertheless, many challenges remain. Risks such as excessive credit growth, asset bubbles, high levels of household and corporate debt have emerged, increasing the vulnerability of the financial sector to shocks. Consequently, ensuring the stability and resilience of the financial sector is crucial for sustainable economic development in the region. When it comes to financial inclusion, despite the good progress made in many developing countries in the region, there are still significant gaps across the region. A large portion of the population in some countries in the region especially in rural areas and among vulnerable groups, still lack access to formal financial services such as savings account and payment systems. This hampers their ability to save, invest and participate in the formal economy, limiting their economic opportunities and potential growth. Against this backdrop, with the support of the Korea Trust Fund, the World Bank has made a significant impact in enhancing the financial sector in the East Asia and Pacific region. These selected stories speak to the positive impact that the Seoul Center's partnership with the Ministry of Economy and Finance has had within the recipient countries. The booklet presents these in detail
    DOI: 10.1596/39899
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    2022 Comoros Public Expenditure Review : Addressing Fiscal Challenges to Foster an Inclusive Growth (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Public Expenditure Review
    Keywords: Economic Growth ; Finance and Financial Sector Development ; Fiscal Challenges ; Inclusive Growth ; Macroeconomics and Economic Growth ; PER ; Public and Municipal Finance ; Public Expenditure Review
    Abstract: The Union of the Comoros is a small-island country in Eastern Africa that recorded a modest economic expansion and suffered from various fiscal challenges during the last decade that had an impact on long-term growth. Limited fiscal space to address development needs explains the country's low human capital and poor quality infrastructure, which in turn hamper efforts to increase productivity and private sector growth. In addition, due to low performing State-owned enterprise (SOEs) and weakening economic performance, Comoros faces significant fiscal risks. The analysis presented in this PER supports the efforts of the government of Comoros to enhance public expenditure efficiency, create fiscal space, and limit fiscal risks. The analysis is designed to focus on public investment management (PIM) and public financial management (PFM), identify reforms that could yield fiscal and efficiency gains, and assess the governance of SOEs
    DOI: 10.1596/40112
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    Tajikistan Economic Update : Focusing On Boosting Private Sector Dynamism In Tajikistan (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Business Environment ; Economic Forecasting ; Economic Growth ; Growth and Prices ; Macroeconomics and Economic Growth ; Payments ; Poverty Projections ; Private Sector ; Private Sector Development ; Public Finances
    Abstract: 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 that private firms struggle to grow as they age. All these aspects reflect a business environment that does not reward the more efficient firms or those with the highest growth potential. The Covid-19 effects brought additional challenges to this low-level equilibrium scenario with shocks in sales and financial distress. The silver line aspect stems from the increasing use of digital technologies. Still, the apparent digital divide regarding firm size poses questions on the real implications for future productivity performance. Against this backdrop, and to tackle the long-term weaknesses of the private sector in Tajikistan, it is crucial to remove barriers that prevent the reallocation of resources towards more productive firms so that the private sector becomes more efficient and able to generate more and better jobs. In this case, and to prioritize measures that maximize effects on aggregate demand in the short-medium-run, it is crucial to give precedence to structural policies that remove impediments to firm entry and expansion of the private sector. Three sets of barriers deserve particular attention: (i) barriers to competition, (ii) barriers to foreign direct investment, and (iii) trade barriers. These barriers must be tackled together because they all reinforce each other regarding firms' competitiveness
    DOI: 10.1596/40114
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    Liberia Economic Update, June 2023 : Getting Rice Right for Productivity and Poverty Alleviation (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Financial Sector ; Fiscal Policy ; Growth and Poverty ; Inflation ; Macroeconomics and Economic Growth ; Poverty Diagnostics ; Poverty Reduction ; Rice Economy
    Abstract: 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 rebounds and inflation moderates. On the external side, Liberia's current account balance improved in 2022, thanks to the continued increase in mining export earnings. The increase in gold export in 2022 offset the increase in imports. Liberia's medium-term economic outlook is positive, but uncertainties remain. Even as it has been trying to recover from a decade of weak economic and social performance, Liberia's overall productivity and economic efficiency remain low, especially in vital sectors of the economy, including agriculture. Demographic trends, economic growth, and a strong preference for rice are the main drivers of demand. Yet, Liberia produces only one-third of its rice needs due to several constraints, including limited access to technology, inefficient farming practices, low public and private investments, and a fragmented value chain, among other factors that have kept productivity low. Amid low production, the increase in imported rice prices continues to fuel food insecurity, poverty, and vulnerabilities in Liberia. Domestic production would need to triple to satisfy local demand, but increasing production would require significant investments in the rice sector, as well as policy actions. This report provides some broad directions for policies
    DOI: 10.1596/40108
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    Libya Economic Monitor, Spring 2023 : Towards a Sustainable Social Contract in Libya (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Conflict and Development ; Economic Growth ; Fiscal Policies ; Inflation ; Labor Markets ; Macroeconomics and Economic Growth ; Social Protection ; Social Protections and Labor
    Abstract: While armed clashed have declined, Libya continues to face fragmentation and fragility. The country's fragility is having far-reaching economic and social impact. Social conditions and public service delivery have been affected. Similar to numerous conflict-affected countries, the World Bank refrains from providing quantitative growth and macroeconomic forecasts. Despite the numerous challenges facing the country, the Libyan economy cab ne reconstructed and diversified by leveraging its substantial financial resources building on four critical pillars. The first is reaching a sustainable political agreement on the future of Libya. The second is the preparation of a shared vision on economic and social development that is based on accurate assessments of needs and aspirations. The third is the development of a modern and decentralized public financial management system that ensures adequate sharing of oil wealth and inter-governmental fiscal transfers as well as effective and transparent budget planning, execution, and reporting policies. The fourth is the establishment of a modern and comprehensive social policy that enables the reform of public administration and creates a clear distinction between social transfers and public wages
    DOI: 10.1596/40060
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    Chad Economic Update - Special Chapter : Improving Resilience to Floods (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Climate Change Economics ; Disaster Risks ; Economic Growth ; Environment ; Floods ; Macroeconomics and Economic Growth ; Natural Disasters ; Outlook ; Poverty Impact ; Resilience
    Abstract: This 2023 Economic Update for Chad is articulated in two chapters, plus a spotlight. The first chapter presents the recent economic and poverty developments as well as the outlook from 2023 to 2025. This chapter is followed by a summary of the macroeconomic-poverty impact analyses for Chad in the World Bank Sahel Country Climate and Development Report (2022). The second chapter offers a deep dive on Chad's disaster risk profile and the drivers that make floods an increasingly important threat to economic growth and provides policy options to reduce the impact of floods and improve resilience
    DOI: 10.1596/40053
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    Energizing Europe - Inclusive Growth : Inflation Chipping Away Income Gains (Part 1) (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Growth ; European Union ; Inclusive Growth ; Inflation ; Macroeconomics and Economic Growth ; Policy Challenges
    Abstract: Following a strong recovery after the onset of the COVID-19 pandemic, growth in the European Union (EU) is expected to sharply decelerate in 2023 as high inflation and increasingly tight monetary policy dampen economic activity. Despite considerable resilience, the EU economy is in a weakened spot following the string of overlapping crises since 2020, which have eroded macroeconomic buffers and left the economy vulnerable to additional negative shocks. Fiscal policy support, going forward, will need to be timely, targeted, time bound, and transparent to eventually support gradual fiscal consolidation. Part 1 of the EU regular economic report (RER) focuses on recent developments and the short-term outlook and risks. This part looks at inclusive growth trends in the EU as a whole and the four regions: Northern Europe (NE), Southern Europe (SE), Western Europe (WE) and Central and Southeast Europe (CEE). Depending on data availability, it also zooms in on a set of selected countries - Bulgaria, Croatia, Poland, and Romania
    DOI: 10.1596/40026
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    Papua New Guinea Country Economic Memorandum : Pathways to Faster and More Inclusive Growth (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Country Economic Memorandum
    Keywords: Economic Development ; Economic Forecasting ; Economic Growth ; Human Capital ; Inclusive Growth ; Macroeconomic Instability ; Macroeconomics and Economic Growth ; Productivity ; Volatility
    Abstract: The Country Economic Memorandum (CEM) focuses on long-term growth, outlining the challenges Papua New Guinea (PNG) faces to achieve sufficient economic growth to expand the incomes of its rapidly growing population as well as what is required for PNG to make the transition to a higher, more stable, and more inclusive growth path. PNG's modest headline economic growth has translated into limited per capita income growth in the past four decades. While the economy expanded by 3.2 percent on average during 1980-2021, per capita gross domestic product (GDP) recorded an average annual growth rate of only 0.9 percent. Moreover, the gap between PNG's per capita income level and those of its peer countries has widened. Despite being at a similar level of development in the 1970s and having enormous natural wealth, PNG's income level is diverging away from the East Asia and Pacific (EAP) region. This calls for a renewed policy focus on boosting economic growth, by addressing PNG's excessive macroeconomic volatility, low productivity growth, and high reliance on natural capital as opposed to human and physical capital
    DOI: 10.1596/39995
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    Rwanda Economic Update, June 2023 : Inclusiveness of Foreign Direct Investment in Rwanda (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Economic Growth ; FDI ; Foreign Direct Investment ; GDP ; International Economics and Trade ; Job Creation ; Macroeconomics and Economic Growth ; Macroeconomy
    Abstract: The Rwanda Economic Update No. 21 reviews the country's macroeconomic performance and prospects and includes a special section focusing on the impact of foreign direct investment (FDI) on the domestic economy. After growing by 8.2 percent in 2022, Real GDP expanded by 9.2 percent in the first quarter of 2023. However, this growth momentum may have been halted by disastrous flooding and landslides from the recent rains. Inflation has eased but remained well above the National Bank of Rwanda (NBR) target range in the first half of 2023, despite a tightening of monetary policy since January 2022. Rwanda's current account deficit improved in 2022, with higher export revenues and remittances outweighing rising import prices. The fiscal deficit narrowed in FY2022-23 thanks to a large decline in public spending, and strong growth which combined to reduce Rwanda's debt as a share of GDP. Prospects for continued high growth are good, and the fiscal and debt positions are expected to improve over the next few years. The special topic emphasizes the large size of FDI inflows, encouraged by a favorable regulatory environment and improvements in governance. FDI in Rwanda appears to generate significant employment benefits, both in terms of job creation by FDI firms and related increases in hiring by domestic firms. FDI firms also appear to have strong linkages with local firms, particularly domestic suppliers, and tend to provide higher-quality jobs than domestic firms, in terms of access to social security. However, forecasts of the volume of inflows and of employment provided when registering with the Rwanda Development Board turned out to be highly optimistic, raising concerns on both limits on FDI firms and the potential for misrepresentation to gain access to incentives. FDI projects tend to be concentrated in Kigali and surrounding districts, which have much lower poverty rates than the national average, and in general there is a negative association between the level of poverty and FDI inflows. Policies to improve the impact of FDI on inclusiveness could involve encouraging FDI projects in poorer districts, promoting greater participation by women and youths, enhancing corporate social responsibility initiatives, strengthening the monitoring and ex post performance assessment of FDI, improving linkages between FDI projects and domestic suppliers, and encouraging the home country of investors to enforce mandatory standards that enhance the sustainability and inclusivity of FDI
    DOI: 10.1596/39975
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    Creating an Enabling Environment for Private Sector Climate Action : An Evaluation of World Bank Group Support, Fiscal Years 2013-22 (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: r02
    Keywords: Adaptation To Climate Change ; Climate Action Engagement ; Climate Change Economics ; Climate Change Mitigation and Green House Gases ; Climate Finance ; Climate Resilient Investment ; Country Climate Analytical Work ; Environment ; Macroeconomics and Economic Growth ; Poverty Impact Evaluation ; Poverty Reduction ; Private Sector Climate Action ; Renewable Energy ; World Bank Group Effectiveness
    Abstract: The private sector has a critical role to play in addressing climate change by investing in low-carbon technologies, developing new technologies, and building climate resilience into its investments and operations. Private sector financing will also be critical for meeting the needs for global finance flows, but climate finance from the private sector has been very low. One reason for this is that most countries lack a conducive enabling environment for the private sector to engage in climate action. This evaluation assesses the World Bank Group's efforts to improve the enabling environment for private sector climate action (EEPSCA). The evaluation defines the private sector enabling environment for climate action as the set of policies (laws and regulations), incentives, standards, information, and institutions that encourage or facilitate the private sector to invest or behave in ways that reduce greenhouse gas emissions or adapt to the current or anticipated impacts of climate change. The private sector includes large, medium, and small firms; domestic and international financiers; and smallholder farmers or other producers. The evaluation assesses the relevance and effectiveness of Bank Group support to EEPSCA and aims to identify lessons applicable to the World Bank and the International Finance Corporation to inform implementation of the Bank Group Climate Change Action Plan 2021 and subsequent Bank Group climate activities. The evaluation also aims to inform discussions on the evolution road map, which considers further increasing the prominence of the role the Bank Group plays on global public goods, such as climate change
    DOI: 10.1596/40396
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    Hiking Market Research and Opportunities in Cabo Verde (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: General Economy, Macroeconomics, and Growth Study
    Keywords: Adventure Tourism ; Economic Growth ; Environment ; Hiking Sector ; Macroeconomics and Economic Growth ; Tourism and Ecotourism ; Travel
    Abstract: The World Bank, in coordination with the Government of Cabo Verde, has partnered with the Adventure Travel Trade Association (ATTA) to develop a research study about the current status of the adventure tourism sector in Cabo Verde, particularly the hiking segment. The purpose of this research is to understand the potential of Cabo Verde as an adventure travel destination and the island of Santo Antao as a world-class hiking hotspot. The methodology followed a four-pronged approach to incorporate the vision of travelers visiting the country, the trade industry and international tour operators, a technical expert analysis, and secondary research of the hiking sector globally. The analysis provides a roadmap to advise the country's stakeholders in taking the relevant decisions to accelerate the path to achieve this objective
    DOI: 10.1596/40283
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    Digital Conglomerates in East Asia : Navigating Competition Policy Challenges (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2209
    Keywords: Conglomerate Mergers ; Conglomeration ; Development Economics and Aid Effectiveness ; Digital Conglomerates ; EAP ; Economic Growth ; Macroeconomics and Economic Growth ; Market Dynamics
    Abstract: Conglomeration has traditionally been prevalent in Asia, a trend that is currently exacerbated by the characteristics of digital markets. While conglomerates offer important benefits, from economies of scale and diversification to the development of new products, they can also have a negative impact on market dynamics. This report examines conglomeration trends in five Asian countries, Malaysia, Korea, the Philippines, Thailand, and Viet Nam, to better understand whether offline conglomerates are expanding into digital markets vis a vis the expansion of purely digital conglomerates into adjacent and non-adjacent markets. The report focuses on one of the main expansion strategies: conglomerate mergers and acquisitions. To this end, it explores the prevalence of conglomerate mergers, both globally and within the East Asia region, the type of competition scrutiny they are submitted to, and potential aspects to strengthen their review to foster more effective competition policies. The report concludes with a set of key policy recommendations that address the identified risks
    DOI: 10.1596/40641
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    Morocco Economic Monitor, Fall 2023 : From Resilience to Shared Prosperity (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2193
    Keywords: Agriculture ; Atlas Region ; Earthquake ; Economic Growth ; Environment ; Female Labor Force ; Gender ; Gender and Development ; Macroeconomics and Economic Growth ; Natural Disasters ; Poverty ; Social Protections and Assistance ; Social Protections and Labor ; Tourism ; Women's Economic Empowerment
    Abstract: The Moroccan economy is recovering. Following a sharp deceleration in 2022 caused by various overlapping commodity and climatic shocks, economic growth increased to 2.9 percent in the first semester of 2023, driven primarily by services and net exports. Inflation has halved between February and August 2023, but food inflation remains high. Lower commodity prices havealso contributed to a temporary narrowing of the current account deficit. The response to recent crises and the unfolding reform of the health and social protection systems are exerting pressures on public spending. However, the government is managing to gradually reduce the budget deficit
    DOI: 10.1596/40632
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    Enablers of Inclusive Cities : Enhancing Access to Services and Opportunities (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2201
    Keywords: Access of Poor To Social Services ; Access To Finance ; Access To Services ; Digital Divide ; Finance and Financial Sector Development ; G20 ; Inclusive Cities ; Information and Communication Technologies ; National Urban Development Policies and Strategies ; Poverty Reduction ; Roles of Stakeholders ; Sustainability and Resilience ; Urban Development
    Abstract: In both G20 and non-G20 countries alike, cities have a crucial role to play in the achievement of national development goals. Already, cities generate more than 80 percent of global GDP and, with a share of the global population that is projected to reach nearly 70 percent by 2050, up from the current share of around 57 percent, the global importance of cities will only grow further in the decades ahead. However, whether the cities of tomorrow can fulfil their potential as drivers of national economic development will depend, to a large extent, on how inclusive they are - that is to say, the extent to which they are able to provide all their residents with quality access to services, markets, and spaces. This is because not only is inclusion in and of itself important, but because more inclusive cities are also both more prosperous and more resilient cities. At the same time, many policies that contribute to inclusive urban development carry important co-benefits for both climate change mitigation and adaptation, as well as vice versa. In this context, this report addresses four important questions: (a) What is an inclusive city (b) How inclusive are cities in G20 member and guest countries, as well as in other countries, globally today (c) What instruments should policymakers draw-on to make the cities of tomorrow more inclusive or, to put it more succinctly, what can policymakers do to make their cities more inclusive And, finally, (d) What are the roles of different stakeholders - city leaders and their associated local governments; national governments, including their ministries of finance; the private sector; civil society organizations; and others - in the effective wielding of these instruments or, to put it more bluntly, who needs to do what
    DOI: 10.1596/40642
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    Cote d'Ivoire Country Climate and Development Report (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2163
    Keywords: Adaptation To Climate Change ; Climate Change ; Climate Change Mitigation and Green House Gases ; Economic Growth ; Environment ; Infrastructure ; Macroeconomics and Economic Growth ; Poverty ; Resilience ; Urban Development ; Urban Environment
    Abstract: Cote d'Ivoire is at a crossroads. Despite good progress over the last decade, recent global economic and health shocks have aggravated existing problems including lack of fiscal space, limited access to concessional and cheap financing, and a fragile political neighborhood. But Cote d'Ivoire now has an opportunity to put its growth on a more sustainable path, both realizing the aspirations of a growing population and better adapting to the growing impacts of climate change. Climate change impacts are already affecting Cote d'Ivoire, as temperatures increase, rainfall and other weather events become more extreme and less predictable, and sea levels rise. This World Bank Group Country Climate and Development Report (CCDR) shows negative impacts from climate change will reduce economic performance and over proportionally impact the poor. The report examines specific opportunities in energy, agriculture, and land use as well as urban development and interconnectivity that could render the country's development more sustainable and inclusive, raising standards of living while increasing resilience in face of climate change. Dealing with a changing climate is a national imperative, where choices need to be made for the structural transformation of the economy, transitioning from outdoor low-earning sectors such as agriculture to more value-added industrial and service activities
    DOI: 10.1596/40560
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    Developing Skills for Tanzanian Youth Through Dynamic TVET : A World Bank Policy Note for Tanzania - Mainland (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 11872
    Keywords: Economic and Employment Structure ; Economic Growth ; Governance ; Inflation ; Labor Force Participation ; Learning Employable Skills ; Skills Development System ; Social Protections and Labor ; Technical and Vocational Education and Training (TVET) ; Youth Employment
    Abstract: Tanzania's rapidly growing population, particularly its youth, faces challenges in entering the labor market due to limited employable skills. This policy note first reviews the demand-side factors including Tanzania's economic, employment, and labor force characteristics, then it critically analyzes the technical and vocational education and training (TVET) and skills development system. It draws from existing studies and available data to provide an overview of key sector issues and highlights the challenges that require attention as they relate to cultivating employable skills for all Tanzanian youth. This policy note complements the World Bank Policy Note on Strengthening Basic Education System and Improving Learning Outcomes and offers timely input to the government's ongoing effort to strengthen the TVET sector
    DOI: 10.1596/40488
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  • 95
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    Dominican Republic Poverty Assessment 2023 : Fast Tracking Poverty Reduction and Prosperity for All (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2118
    Keywords: Climate Change ; Economic Growth ; Monetary Poverty ; Non-Monetary Poverty ; Poverty Reduction ; Social Assistance
    Abstract: In recent decades, economic growth in the Dominican Republic (DR) has been steady. However, growth has not occurred in such a way as to make the benefits widely and evenly available. In fact, although the DR economy grew faster than that of other LAC countries before the Covid-19 pandemic, its poverty rates and social outcomes remain broadly similar to them. This report seeks to explain this conundrum, as well as to expand the knowledge base to improve the effectiveness of ongoing poverty reduction policies in the DR. The Poverty Assessment draws primarily on new analytical work conducted in the DR, structured around four background notes on: (i) trends in monetary poverty and inequality, as well as the key drivers of those changes; (ii) nonmonetary poverty and its spatial dimensions; (iii) social assistance programs and their role in mitigating poverty; and (iv) climate change and its interaction with poverty. By helping to reduce the evidence gap in each of these areas, our analysis hopes to inform government policies and the national dialogue on poverty reduction. In addition, the note integrates existing analytical work and evidence produced inside and outside the Bank, including from its operations in the country
    DOI: 10.1596/40565
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    Reducing Wildfire Risk through Sustainable Forest Management : Lebanon Forest Note (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 40347
    Keywords: Agriculture ; Economic Growth ; Economic Value of Forests ; Environment ; Forest Biodiversity ; Forests and Climate Change ; Global Environmental Committment ; Public Sector Development ; Sustainable Development Goals ; Windfire Risk Management
    Abstract: Lebanon's forest landscapes are unique in the Mediterranean region and, over the centuries, have provided multiple socioeconomic, cultural, and environmental benefits. However, societal changes have had a significant impact on these landscapes, putting them at risk of further degradation. Lifestyle changes and restrictions on access to forests and woodlands have contributed to the abandonment of traditional community use, management, and protection of forests. This neglect has left forests vulnerable to arson, vandalism, and natural disasters. This Lebanon Forest Note articulates opportunities for supporting the protection and sustainable management of Lebanon's forest landscapes. It considers the increasing pressure on natural resources due to anthropogenic activities/stresses, as well as their increased vulnerability to climate change and natural disasters, especially forest fires. The note presents a forward-looking business case for Lebanon to protects its forest ecosystem services, while increasing the socioeconomic benefits for Lebanon's sustainable development goals and global environmental commitments
    DOI: 10.1596/40519
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  • 97
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    Benin Country Climate and Development Report (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Country Climate and Development Reports (CCDRs)
    Keywords: Adaptation To Climate Change ; Climate Change ; Deforestation ; Economic Growth ; Environment ; Forests ; GHG Emissions ; Macroeconomics and Economic Growth ; Private Sector
    Abstract: This Country Climate and Development Report (CCDR) proposes that Benin focuses on building a resilient economy, with investment and policy options primarily targeted at adapting to climate change risks. The dependence of Benin's economic structure on agriculture and informal employment makes its development path highly vulnerable to climate change in the absence of proper adaptation. The government and the private sector need to be better prepared to deal with climate change -- building adequate institutions and governance structures will be crucial. While all sectors will have to become more resilient, this is especially urgent for agriculture and land use, urban and network infrastructure, and human development (education, health). Mitigation efforts should focus on avoiding carbon lock-ins and reducing deforestation. Investing in renewable energy whilst expanding the population's access to electricity should be a priority for Benin. A higher share of renewable energy can bring about co-benefits for other sectors (agriculture, water, transport, and forestry). To maintain its growth trajectory, Benin needs to pay special attention to its most vulnerable people, including women. To protect the poor and vulnerable the just transition should focus on reconciling development and climate goals while addressing inequality (income and gender related), and spatial exclusion
    DOI: 10.1596/40688
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    Middle East and North Africa Macro Poverty Outlook : Country-by-country Analysis and Projections for the Developing World, Annual Meetings 2023 (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2119
    Keywords: Debt Indicators ; Education ; Environment ; Fiscal Indicators ; GDP ; GHG ; Health Economics and Finance ; Health Insurance ; Health Monitoring and Evaluation ; Inflation ; Macroeconomics and Economic Growth ; Poverty Indicators ; Poverty Reduction
    Abstract: This edition of the Macro Poverty Outlooks periodical contains country-by-country forecasts and overviews for GDP, fiscal, debt and poverty indicators for the developing countries of the Middle East and North Africa region. Macroeconomic indicators such as population, gross domestic product and gross domestic product per capita, and where available, other indicators such as primary school enrollment, life expectancy at birth, total greenhouse gas emissions and inflation, among others, are included for each country. In addition to the World Bank's most recent forecasts, key conditions and challenges, recent developments and outlook are briefly described for each country in the region
    DOI: 10.1596/40475
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    Tanzania Economic Update : The Efficiency and Effectiveness of Fiscal Policy in Tanzania (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2193
    Keywords: Current Economic Indicators ; Equity Committment ; Fiscal and Monetary Policy ; Fiscal Policy ; GDP Growth By Sector ; Governance ; Macroeconomics and Economic Growth ; Poverty Reduction ; Recent Economic Developments
    Abstract: Global growth is projected to slow significantly in 2023 as continued monetary tightening constrains the credit supply. Tanzania's economy has performed relatively well despite a challenging external environment. The government recognizes that a dynamic private sector fueled both by domestic and international investment is crucial to increase productivity, accelerate job creation, and support more inclusive and resilient growth. Tanzania has several macroeconomic advantages that could support a successful transition to middle-income status. Tanzania's most urgent reform priorities include measures to improve efficiency and effectiveness of expenditure programs and boost tax-revenue mobilization. The government should assess and regulate budget transfers to state-owned enterprises to ensure their sustainability. An analysis of the implementation capacity of ministries with low expenditure execution rates could inform efforts to improve procurement systems and strengthen monitoring and evaluation. The government should adjust VAT, corporate income tax, and excise tax rates to increase revenue mobilization, and excise taxes on tobacco should be reevaluated to balance revenue and public health objectives. Strengthening taxation on wealthier households is vital to improve the equity of the tax system. Reinforcing the tax administration's auditing capacity will be necessary to boost collection efficiency and enhance distributional equity, and registration thresholds should also be adjusted to broaden the tax base. The Commitment to Equity (CEQ) methodology could be used to assess the impact of proposed fiscal policy changes on household income, poverty, and inequality
    DOI: 10.1596/40452
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    Central African Republic Poverty Assessment 2023 : A Road Map Towards Poverty Reductionin the Central African Republic (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Poverty Assessment
    Keywords: Access To Services ; Food ; Infrastructure ; Monetary and Non-Monetary ; Poverty Assessment ; Poverty Reduction
    Abstract: This report -- the Central African Republic's (CAR's) first ever poverty assessment -- draws on unparalleled microdata to propose practical strategies for lifting Central Africans out of poverty. Against the backdrop of a wide range of development challenges -- including persistent low growth, conflict and displacement, andthe increasing threats posed by climate change --CAR urgently needs policies for reducing poverty. This report draws primarily on the 2021 Enquete Harmonisee sur le Conditions de Vie des Menages (EHCVM), the first household survey suitable for poverty measurement conducted in CAR in more than a decade, to try and guidesuch policies. The report provides CAR's headline poverty and inequality statistics, using the EHCVM's unique sampling strategy to cover internally displaced persons (IDPs). The analysis goes beyond considerations of monetary poverty alone, assessing the extent of non-monetary deprivation in CAR, examining constraints onhuman capital development, and exploring the role that livelihoods -- especially in agriculture -- can play in lifting people out of poverty. Using geospatial data, the results are also linked to indicators of physical access to schools and health facilities as well as key elements of basic infrastructure. This Executive Summary highlights the poverty assessment's key findings and outlines the policies that can kickstart CAR's pathway towards poverty reduction
    DOI: 10.1596/40706
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