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  • 1
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    Pacific Economic Update, February 2023 (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: COVID-19 ; Finance and Development ; Finance and Financial Sector Development ; Post-Pandemic ; Public Debt ; Social Protections and Assistance ; Social Protections and Labor ; Tourism ; Travel-Dependent
    Abstract: This publication is the inaugural edition of the future publication series on Pacific Economic Update (PEU). It consists of two parts. Part A analyzes the recent economic developments in Pacific Islands. Based on these developments, the PI EU summarizes the outlook for the region's economies and risks to this outlook. Second, the PEU provides an in-depth examination of a public debt issues in the Pacific and proposes policy recommendations to address public debt related challenges. The PEU is intended for a broad set of audience, including regional forums, policy makers, business leaders, international donors and the community of analysts and professionals engaged in the economies of Pacific Island countries. In dealing with the challenges of rising inflation, tepid recovery from the pandemic and global slowdown, the PICs should strike a balance between supporting livelihoods and reducing future public debt risks. The need for fiscal support during the current environment of high inflation and tepid economic recovery is understandable as it provides the much needed relief for vulnerable households and businesses to navigate the crisis. Nonetheless, these support measures create significant fiscal burdens, and are unsustainable, particularly if the high energy and food prices persist longer than envisaged. Most PICs already face low capacity to finance unexpected shocks which would be further tested by a natural disaster event. Therefore, PICs should tread a delicate balance between fiscal support measures and achieving fiscal sustainability. Any forthcoming fiscal support should be well-targeted, time-bound, and deficit-neutral. Over the medium-term, fiscal efficiency gains and ongoing donor support is critical to finance key development challenges and climate adaptation. Revenue-based fiscal consolidation measures could include improving the efficiency of tax collections and eliminating tax exemptions. On the expenditure side, PICs have limited room to sharply cut spending given the expected modest growth and ongoing development needs. Therefore, it becomes imperative to improve the efficiency of public spending, to maximize social dividends for every dollar spent. Resulting savings from fiscal consolidation measures could help build sovereign wealth funds to provide added fiscal buffers during shocks and economic downturns. Due to high vulnerability to disasters and climate change, PICs will need to seek ongoing concessional financing for critical climate adaptation and development needs
    DOI: 10.1596/39523
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  • 2
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    Learning Recovery to Acceleration : A Global Update on Country Efforts to Improve Learning and Reduce Inequalities (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Education Study
    Keywords: COVID-19 ; Education ; Education Indicators and Statistics ; Education Reform and Management ; Learning Acceleration ; Learning Poverty
    Abstract: Before the COVID-19 pandemic, global learning levels were unacceptably low. In 2019, learning poverty, the share of children unable to read and understand a simple text by age 10, had reached 57 percent in low- and middle-income countries (World Bank and others 2022b). This constituted a global learning crisis. Despite significant expansion in access to schooling in most low, and middle-income countries over the past 50 years to near-universal levels for primary school, progress in improving global learning levels had stalled. This report, Learning Recovery to Acceleration: A Global Update on Country Efforts to Improve Learning and Reduce Inequalities, takes stock of what countries have done so far to recover and accelerate learning since reopening schools, and what we have learned from their experience. It follows the RAPID Framework for Learning Recovery and Acceleration, which we published with the Bill and Melinda Gates Foundation, U.K.'s Foreign, Commonwealth and Development Office (FCDO), UNESCO, UNICEF and USAID in 2022 as a menu of policy actions based on past evidence and on policies that many countries were already implementing. To a large extent, many of the policies and interventions needed to recover from the pandemic setbacks and accelerate learning are known. One lesson is clear: political and financial commitment are vital for improving learning and reducing inequality. Effective education strategies require societies' determination to make education a priority and devote the necessary human and financial resources to end the learning crisis. Policymakers, schools, and communities must work urgently to recover learning, tackle deep-rooted systemic challenges, and build resilience to future disruptions
    DOI: 10.1596/40012
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  • 3
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    Foundational Learning Compact Umbrella Trust Fund Progress Report : January 2021 - September 2022 (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: 2113
    Keywords: COVID-19 ; Edtech ; Education ; Education Indicators and Statistics ; Education Reform and Management ; FLC ; Foundational Learning ; Teachers
    Abstract: The FLC Progress Report showcases initiatives that have helped create tools and knowledge for countries to improve foundational learning through their educational systems. Since it is the first such report for the FLC, it will cover the transition to the FLC from the previous SABER3 program to its incarnation as the FLC umbrella trust fund. It will also examine recent and current challenges, including the slowdown in the pace of implementation during the COVID related school and ministry closures. The pandemic both stymied and shaped how the FLC initiatives worked, where we worked, and when we worked. We have had to adapt. Fortunately, implementation has picked up in the last year and technical teams have been working tirelessly to accelerate implementation
    DOI: 10.1596/40398
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  • 4
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    The World Bank Group's Early Support to Addressing the COVID-19 Economic Response, April 2020 - June 2021 : An Early-Stage Evaluation (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Independent Evaluation Group Studies
    Keywords: COVID-19 ; Economic Forecasting ; Economic Impact ; Economic Insecurity ; Economic Stabilization ; Future Crisis ; Institutional Level ; Macroeconomics and Economic Growth ; Recovery ; Strategic Level
    Abstract: In the face of the global economic crisis caused by the coronavirus (COVID-19) pandemic, the World Bank delivered the largest crisis response in its history. This evaluation assesses the Bank Group's early response to the economic crises caused by COVID-19, and examines interventions over the 15 months from April 2020 through June 2021. The report considers two evaluation windows: the acute crisis phase (April 1, 2020 to December 31, 2020) and the incipient recovery phase (January 1, 2021 to June 30, 2021). The objective of identifying the two windows was to assess whether the Bank Group internalized learning from the first period of the crisis to address the challenges that were materializing in the (incipient) recovery phase. The evaluation assesses the relevance of the Bank Group's interventions on three dimensions: the extent to which the Bank Group targeted its early response based on clients' and sectors' needs, the extent to which the Bank Group used timely diagnostics and lessons from past crises to inform its early response, and the extent to which the early response leveraged the Bank Group's comparative advantages. The evaluation studies the quality of the Bank Group response on three dimensions: the extent to which the Bank Group early response influenced client strategies; the extent to which the Bank Group coordinated its early response among its constituent institutions and with development partners; and how well the Bank Group early response handled monitoring, safeguards, and governance. The evaluation offers two near-term recommendations to strengthen the role of the Bank Group as a crisis responder, which is now more critical than ever
    DOI: 10.1596/38514
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  • 5
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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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  • 6
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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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  • 7
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    Yemen Country Economic Memorandum 2022 : Glimmers of Hope in Dark Times (2023)
    Washington, D.C : The World Bank
    Details
    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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  • 8
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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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  • 9
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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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  • 10
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    Pacific Island Countries : Financial Stability and Resilience in Turbulent Times (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Financial Sector Study
    Keywords: Adaptation to Climate Change ; Climate Change ; COVID-19 ; Environment ; Finance and Development ; Finance and Financial Sector Development ; Financial Systems ; Transition ; Vulnerabilities
    Abstract: This report provides an assessment of the stability of the financial systems of selected Pacific Island Countries (PICs) in the context of COVID-19 and emerging risks. The report brings together an analysis of information provided by the central banks of the PICs covered by this study over the last two years. The purpose of the study is to assess the financial stability and vulnerabilities and to provide technical guidance to the PIC authorities to assist in their financial sector policy response. Chapter 1 presents an overview of the financial systems of the PICs. Chapter 2 presents an analysis of the impacts of COVID-19 on the financial systems of the PCIs and the policy responses to the pandemic. Chapter 3 looks at the challenges of transitioning from the pandemic to normal policy settings. Chapter 4 provides a set of bespoke policy recommendations with the aim of enhancing the ability to deal with financial sector risks and vulnerabilities. Finally, Chapter 5 puts forward recommendations for the assessment of climate and environmental related risks on the PICs. The report finds that the pandemic has negatively impacted economic growth in the PICs, challenging financial stability. Due to various relief measures adopted by governments in the region, and the lagged economic impact of the pandemic, the PICs' financial sectors do not yet fully reflect the risks to bank profitability and asset quality, which could materialize over 2022-23. Response and
    DOI: 10.1596/39455
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    Social Protection Situational Analysis : Montenegro (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Social Protection Study
    Keywords: Cash Transfers ; COVID-19 ; Labor Market ; Pensions ; Pensions and Retirement Systems ; Poverty ; Social Analysis ; Social Assessment ; Social Development ; Social Funds ; Social Protection System ; Social Protections and Assistance ; Social Protections and Labor
    Abstract: A period of economic growth over the past decade led to a reduction in poverty and improvements in labor market outcomes in Montenegro. Substantial challenges remain, which have been aggravated by the COVID-19 pandemic, drawing attention to the role that social protection plays in reducing poverty and promoting human capital. This note presents a situational analysis of the social protection system in Montenegro. It assesses the extent to which the social protection system in Montenegro fulfils its purpose and proposes areas for reform in the short, medium, and long term. To this end, this note seeks to assess each category of social protection, namely: social assistance, social services, social insurance (specifically pensions) and labor market programs, in terms of program coverage, equity, sustainability and effectiveness
    DOI: 10.1596/39413
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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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  • 13
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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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  • 14
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    Managing the Fiscal Implications of Public-Private Partnerships in a Sustainable and Resilient Manner : A Compendium of Good Practices and Lessons Learned from the COVID-19 Pandemic (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Infrastructure Study
    Keywords: COVID-19 ; Fiscal and Monetary Policy ; Fiscal Sustainability ; Infrastructure Economics ; Infrastructure Economics and Finance ; Macroeconomics and Economic Growth ; PPP
    Abstract: Public-private partnerships (PPPs) can sometimes be perceived as a means for delivering infrastructure for free. A more nuanced but still inexact view is that they are a mechanism to overcome fiscal constraints. Some argue, perhaps rightly, that often governments enter PPP contracts without fully understanding their fiscal implications. These misconceptions lead to several challenges. There is evidence that fiscal sustainability is often overlooked or ignored by countries with PPP programs, with long-term fiscal implications the governments did not understand or manage well. Governments also struggle with perceptions that they are not fully transparent about the real, ultimate costs of PPP projects. This report aims to illustrate how to improve fiscal risk management and treatment of fiscal commitments and contingent liabilities (FCCL) arising from PPP projects, to build better Infrastructure post-COVID-19. It intends to be a resource for World Bank client countries, including low income and fragile economies, to design their fiscal PPP management frameworks in a viable way that helps them develop their PPP programs while maintaining medium-to-long-term fiscal sustainability and resilience. With that in mind, Volume I highlights and contextualizes the main findings from a set of case studies that assessed the PPP fiscal risk management framework in select countries, and synthesizes the observable and qualitative results in managing the impact of crises, in particular the COVID-19 pandemic. Based on that, it also explores how this crisis has affected PPP projects and overall PPP programs, and suggests improvements to FCCL management frameworks in order to strengthen the capacity of countries to continue with their PPP programs in a sustainable fiscal manner. Volume II contains the detailed case studies on which Volume I is based
    DOI: 10.1596/39578
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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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    Indonesia Economic Prospects, June 2023 : The Invisible Toll of COVID-19 on Learning (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: COVID-19 ; Education Finance ; Education Reform and Management ; Education System ; Finance and Development ; Finance and Financial Sector Development ; Learning Losses ; Pandemic
    Abstract: Commodity windfalls and private consumption have sustained Indonesia's growth despite a difficult global environment, but signs of normalizing domestic demand are emerging. Inflation is easing at a faster pace than markets anticipated. Indonesia's external vulnerabilities remain moderate. The fiscal stance has normalized reflecting faster fiscal consolidation, anchored by a broad-based rise in revenues and prudent public spending. Softening inflation and resilient capital flows have led Bank Indonesia (BI) to ease its pace of monetary tightening. The outlook remains stable as the economy normalizes following the post-pandemic recovery. While this is a robust outcome given levels of global uncertainty, Indonesia still faces declining productivity growth like other emerging market economies. Policy makers are encouraged to build on recent reforms and adopt further market-friendly policies and reduce constraints to competition to accelerate productivity growth. The Government of Indonesia (GoI) has put tremendous efforts into mitigating the learning disruption caused by COVID-19. This study provides new evidence of learning loss in math and language, comparing data on grade 4 student learning before and after the COVID-19 pandemic-induced school closures across Indonesia. In line with international literature on COVID-19 - induced learning losses, students' future earnings and Indonesia's future productivity will be negatively affected if no action is taken. This study highlights the urgency of addressing learning loss by stimulating political commitment for learning recovery and prompting deliberate actions, with adequate resources to complete them
    DOI: 10.1596/39921
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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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    Stronger Social Protection and Labor Systems in Central America for a Resilient and Inclusive Recovery (2023)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Social Protection Study
    Keywords: Adaptive ; COVID-19 ; Inclusive Recovery ; Limited Spending ; Resilience ; Social Protections and Assistance ; Social Protections and Labor ; SPL
    Abstract: Social Protection and Labor (SPL) Systems help individuals and societies manage risk and volatility and protect them from poverty through instruments that address the challenges of resilience, equity and opportunity. SPL systems include social safety nets, social insurance, and labor market programs. As recent events have shown, the relative emphasis among goals - resilience, equity and opportunity - can change over time, with demands put on SPL program design and delivery systems differing in each context. In relatively stable times, programs are likely to focus on human capital formation, equality of opportunity, poverty reduction, and redistribution. This was the case in Central America prior to the COVID-19 emergency, albeit with some shortcomings. The goal of shock-responsiveness (resilience) dramatically came to the fore during the pandemic, even if recognized earlier during natural disasters and now more broadly with climate change. Globally and in Central America, SPL systems had a critical role in the response to the COVID-19 emergency
    DOI: 10.1596/40226
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    Tunisia Economic Monitor, Winter 2021 : Economic Reforms to Navigate Out of the Crisis (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Business Cycles and Stabilization Policies ; Coronavirus ; COVID-19 ; Debt ; Disease Control and Prevention ; Economic Growth ; Fiscal and Monetary Policy ; Health, Nutrition and Population ; Macroeconomics and Economic Growth ; Poverty Reduction ; Public Debt ; Public Sector Development ; Unemployment
    Abstract: The Economic Monitor examines four possible factors behind Tunisia's slow recovery. First, the drop in mobility related to the pandemic may have been more harmful in Tunisia. However, mobility in Tunisia has dropped to a similar extent as other countries and it has now returned to pre-pandemic levels following the acceleration in the vaccination campaign since July. If anything, the mobility drop in Tunisia has resulted in a lower reduction in economic activity than in comparator countries as Algeria and Egypt. Second, it could be that the level of public support to the ailing firms and households may have been particularly low. However, at 2.3 percent of GDP, the Covid-19 stimulus package in 2020 was in the same ballpark as other comparators in the region. Third, the structure of the Tunisian economy, particularly its reliance on tourism, may have exposed it to the negative demand shock more than other countries. Indeed hotels, cafe and restaurant and transport are the sectors which have contracted the most since the start of the pandemic. The losses of these sectors explain a significant portion of the negative effects of the crisis in Tunisia, although they do not fully account for such slow recovery
    DOI: 10.1596/36861
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    South Africa : Financial Sector Assessment (2022)
    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 ; Coronavirus ; COVID-19 ; Economic Growth ; Economic Recovery ; Environment ; Insurance ; Macroeconomics and Economic Growth
    Abstract: The South African financial system has weathered the shock of COVID-19 but faces growing risks emanating from a weak macroeconomic outlook. The pandemic crisis hit South Africa hard, with nonresident capital outflows accelerating and the domestic and global slowdown precipitating a6.4 percent GDP contraction in 2020. A brief period of liquidity stress was managed with new central bank facilities and a lowering of liquidity requirements; and banks proved resilient thanks to sound capital and liquidity buffers. Asset management and pension assets saw falling valuations, but redemption pressures quickly dissipated as markets stabilized. The intensification of the sovereign financial system nexus emerging from the crisis poses risks going forward, and a resurgence of the pandemic could deteriorate asset quality. Banks are resilient in the FSAP's baseline; however, amedium-term adverse stress scenario would cause a significant decline in capital although most banks would remain sufficiently capitalized. Under stress, banks could face some liquidity gaps, particularly at very short maturities, highlighting the importance of continued close monitoring. The impact of COVID-19 on insurers has thus far been contained, but prudential rules should be strengthened to ensure the measure of capital is sufficiently robust
    DOI: 10.1596/37079
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    Enhancing Debt Transparency by Strengthening Public Debt Transaction Disclosure Practices (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Debt and Creditworthiness Study
    Keywords: COVID-19 ; Debt Management ; External Debt ; Finance and Financial Sector Development
    Abstract: Improving debt transparency is critical for promoting debt sustainability and creditworthiness assessments, increasing the accuracy of public debt information, and protecting the interests of a diverse range of stakeholders. The importance of debt transparency, the costs associated with the lack of it, and its benefits, are extensively discussed in recent World Bank literature. One of the key factors that limits debt transparency as it relates to public disclosure and the sharing of public debt-related information, is transaction-level confidentiality and disclosure practices. Challenges to disclosure have become more evident during recent debt distress among borrowing countries, and the COVID-19 pandemic. The discussion in this paper reveals issues that arise from confidentiality and disclosure practices among lenders and borrowers; and highlights how these issues cause information asymmetries and undermine the interests of stakeholders. The paper concludes by proposing concrete and actionable recommendations for the World Bank, IMF and sovereigns
    DOI: 10.1596/37420
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    Sierra Leone Economic Update 2022 : Leveraging SME Financing and Digitization for Inclusive Growth (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: COVID-19 ; Econometrics ; Economic Conditions and Volatility ; Economic Development ; Macroeconomic Management ; Macroeconomics and Economic Growth
    Abstract: The Coronavirus (COVID-19) pandemic has set back the economy and fiscal balances of Sierra Leone, which are now further impacted by the war in Ukraine. Real gross domestic product (GDP) growth turned negative in 2020, while the government's efforts to reduce the fiscal deficit were undermined by the need for emergency spending. Just when the economy began to recover, the war in Ukraine caused new disruption through sharply higher food and fuel prices. Thus, the authorities face both the short-term challenge of coping with these price shocks while recovering from the pandemic, and the medium-term challenge of renewing fiscal consolidation and promoting higher economic growth. Public finances have deteriorated since the onset of COVID-19. Inflationary pressures have accelerated since mid-2021, driven first by the post-pandemic rebound in consumption, and subsequently by global supply chain disruptions since the onset of the Ukraine war, and depreciation pressures on the Leone. Small-and-medium enterprises (SMEs) can be engines of economic growth and job creation,under the right circumstances. Currently, in Sierra Leone, SMEs (along with micro-enterprises) provide livelihoods to approximately 70 percent of the population and represent over 90 percent of the domestic private sector. Access to finance for SMEs and digital finance are priorities for the government. Digital financial services (DFS) are not diversified, and mobile money remains the main driver. The payments infrastructure including the RTGS, ACH and securities settlement system needs to be upgraded. Sierra Leone lacks a modern credit reporting system. Key recommendations for greater SME access to finance are presented in this report
    DOI: 10.1596/37651
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    Mongolia 2020 Poverty Report : A Decade of Progress and Stagnation in Poverty Reduction (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Poverty Assessment
    Keywords: COVID-19 ; Inequality ; Poverty Assessment ; Poverty Diagnostics ; Poverty Reduction ; Social Development
    Abstract: Mongolia made notable strides in reducing poverty from 2010 to 2014, but the pace of poverty reduction slowed significantly after the 2016 economic recession. The trend of declining inequality and inclusive growth seen in the first half of the decade changed course in the latter half. Greater urbanization and narrowing geographical disparities in poverty have meant that the poor have become increasingly concentrated in urban centers, especially Ulaanbaatar. Economic volatility and uncertainty together with restrictions on face-to-face services may have led to an increase in precautionary saving among households, particularly during the Coronavirus disease 2019 (COVID-19) pandemic. An additional issue related to the measurement of consumption in 2020 specifically is the survey-to-survey imputation approach that was used to estimate poverty and the consumption distribution due to changes in the household socio-economic survey (HSES) questionnaire. Finally, despite significant increases, social transfers have had only modest success in reducing poverty due to targeting inefficiencies. The 2020 HSES shows that impacts to employment in 2020 were not significant until the final quarter, with workers in urban areas and in the service sector more likely to be affected. While subsequent surveys will provide a clearer picture of the longer-term impacts of the pandemic, signs of potentially lasting and unequalizing effects have emerged after 2020
    DOI: 10.1596/38003
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    Gulf Economic Update : Green Growth Opportunities in the GCC (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: COVID-19 ; Economic Recovery ; Economic Stabilization ; Macroeconomics and Economic Growth
    Abstract: The world economy was on track for a strong, albeit uneven, recovery from COVID-19. However, the war in the Ukraine and supply-chain disruptions exacerbated by shutdowns in China due to the zero-COVID policy are dealing a serious blow to global recovery. The Gulf Cooperation Council (GCC), however, is expected to perform strongly this year. Booming hydrocarbon prices have eased pressure on fiscal balances and public sector debt and has increased current account surpluses in the GCC. Despite efforts by GCC countries, diversification is still below potential. There is progress in the non-oil economy but limited success in non-oil exports. Structural reforms must be continued to help nurture a competitive private sector. There is however an excellent and timely opportunity to diversify further the economy using a green growth strategy. The extra windfall from higher oil prices to the GCC can be used to start new high-growth, green industries that would help the economies of the region grow by an extra 3-6 percent as detailed in the Focus section of this update. The special focus section also emphasizes that there is no inherent long run trade-off between emissions reductions, economic growth, and poverty alleviation. Moving away from fossil fuels towards a greener future should not be seen as a threat but as a tremendous opportunity as the costs of renewable energy have fallen dramatically in recent years. The region already has three record-breaking, low-cost auctions for solar energy supply in Qatar, UAE, and Saudi Arabia. The region also has the potential to be a lead producer of green and blue hydrogen. With the right regulations, policies, and investments to support the transition, GCC countries can emerge with stronger, more sustainable economies that generate rewarding jobs for their youth while simultaneously protecting the planet. Finally, this report highlights potential pathways for GCC countries to benefit from and play a leading role in the global transition to a low-carbon economy
    DOI: 10.1596/38255
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    Change Cannot Wait : Building Resilient Health Systems in the Shadow of COVID-19 (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Health Study
    Keywords: COVID-19 ; Health Indicators ; Health Insurance ; Health Shocks ; Health Systems Development and Reform ; Health, Nutrition and Population ; Human Resources
    Abstract: As the world approaches the third anniversary of the SARS-CoV-2 outbreak, the devastating health, economic, and societal impacts of the COVID-19 pandemic remain on every continent. COVID-19 underscored how unprepared we are for a public-health emergency of staggering proportions. And yet potentially graver health threats loom. The increasing number of acute infectious diseases combines with trends such as population aging, chronic-disease burdens, and climate change to raise the risk of syndemics-events in which two or more diseases adversely interact with each other and with political and economic conditions of inequality and poverty. The only way to prevent, prepare for, and manage these threats is by building resilient health systems to withstand shocks and improve health outcomes between crises. This report, which is filled with country examples of resilience, shows how strengthening resilience is within every country's reach, even those with low incomes. It describes the key features of resilient systems as integrated systems that are aware of threats; agile in response to evolving needs; absorptive of shocks; adaptive to minimize disruptions; and able to transform after crises, based on lessons learned. The report makes recommendations for countries to operationalize resilience based on a framework that prioritizes investments according to their impact. The most important investments center on risk reduction, including prevention and community preparedness. The second most important investments focus on disease detection, containment, and mitigation to contain outbreaks before they spread widely. The final set focuses on advanced case management and surge response during an epidemic or pandemic, making this the most expensive and least cost-effective tier. The final message of the report is urgency. Investments are needed to save lives and economies - before it is too late
    DOI: 10.1596/38233
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    Consolidating the Recovery : Seizing Green Growth Opportunities (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (62 pages)
    Series Statement: Latin America and Caribbean Semiannual Report
    Parallel Title: Erscheint auch als
    Keywords: Climate Smart Agriculture ; Coronavirus ; COVID-19 ; Economic Growth ; Fiscal Adjustment ; Green Growth ; Inflation ; Low Carbon Technologies ; Renewable Energy ; Uncertainity
    Abstract: The Latin America and the Caribbean region is consolidating its recovery from the COVID-19 crisis, but the road ahead poses challenges: The damage inflicted by the pandemic on education and poverty require redress; new variants may appear; rising global inflation presents new policy dilemmas; and the long-standing reform agenda needed to lay the foundations for renewed and inclusive growth remains pending. Further, the global context is evolving rapidly. Over the medium term, the tragedy unfolding in Ukraine will affect the region through unpredictable channels. Over the longer term, increased global alarm over the pace of climate change raises new policy issues. The region's contribution to greenhouse gases is modest and can be reduced, but the impact of climate change on its people and productive sectors will require significant adaptation. The good news is that LAC's unique endowments positions it well to seize emerging green growth opportunities if well-managed. A key message is that improving the region's capability to adapt and innovate needs to be placed at the center of both the growth and greening agendas and can generate synergies between them
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    Energy Sector : MyanmarvInfrastructure Monitoring (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Infrastructure Study
    Keywords: COVID-19 ; Energy ; Energy Policies and Economics ; Energy Sector ; Energy Sector Regulation ; Infrastructure ; Political Instability
    Abstract: Myanmar's energy sector has been severely affected by the dual shocks of the February 2021 coup and Coronavirus disease 2019 (COVID-19) pandemic. Developments in the energy sector after the coup have undermined nascent energy sector reforms over the last few years, including reforms that led to improved service delivery, restructured electricity tariffs, and increased electricity access. Constraints in human resources resulting from the dismissal of over 4,400 staff in key entities and departments under the Ministry of Electricity and Energy (MoEE) has put power sector operation at risk. Public boycott of electricity payments and rising costs of electricity due to dollar-denominated independent power producers have adversely affected the financial viability of the power sector. The political instability in the aftermath of the coup has led to significant operational and financial burdens on the sector, affecting the sector financial viability and fiscal sustainability. Investor confidence has plummeted amid uncertainty and a worsening investment climate, jeopardizing the implementation of approved power projects, including renewable solar. While the global commodity rally continues, there are serious challenges ahead, including the need for skilled labor to ensure electricity reliability, maintain the security of power infrastructure, and increase electricity revenues
    DOI: 10.1596/37422
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    Grievance Redress Mechanism of the Takaful and Karama Program in the Arab Republic of Egypt (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other papers
    Keywords: Access To Finance ; Confidentiality ; COVID-19 ; Finance and Financial Sector Development ; Social Accountability ; Social Analysis ; Social Development ; Transparency
    Abstract: Launched in January 2015, the Takaful and Karama (T&K) program is among the Arab Republic of Egypt government's cornerstone social protection mitigation measures. It seeks to alleviate the adverse effects of the country's bold economic reforms aimed at addressing longstanding macroeconomic issues. Implemented by the Ministry of Social Solidarity (MoSS) and co-financed by the government and the World Bank, the T&K program is among Egypt's largest investments in human capital development. This case study summarizes the practices of the T&K program GRM to date, including lessons learned. The experiences and achievements of the T&K GRM in Karama's beneficiary assessment phase are specifically highlighted. Section two explores the GRM as part of a broader social accountability approach; section three summarizes the institutional arrangements for grievance resolution; section four discusses key results and trends regarding grievance handling; and section five concludes with a snapshot of achievements, lessons learned, areas of strength and in need of improvement, and the path forward
    DOI: 10.1596/37644
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    Malaysia Economic Monitor - Catching Up : Inclusive Recovery Growth for Lagging States (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Armed Conflict ; Communicable Diseases ; Conflict and Development ; COVID-19 ; Health, Nutrition and Population ; Macroeconomics and Economic Growth ; Social Analysis ; Social Development
    Abstract: Global growth slowed markedly in H1 2022. This was due to COVID-19 resurgences at the turn of the year; protracted supply disruptions; reduced macroeconomic support; and substantial negative spillovers from the war in Ukraine. The conflict, which has sparked the largest commodity price shock in 50 years, has exacerbated the increasingly difficult policy tradeoffs between supporting growth and managing price pressures. It has contributed to tightening in global financial conditions, increased financial market volatility and higher borrowing costs, particularly in Emerging Markets and Developing Economies (EMDEs)
    DOI: 10.1596/37531
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    Blue Tourism in Islands and Small Tourism-Dependent Coastal States : Tools and Recovery Strategies (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other papers
    Keywords: COVID-19 ; Economic Forecasting ; Economic Growth ; Environment ; Macroeconomics and Economic Growth ; Tourism and Ecotourism
    Abstract: Small island developing states and small tourism-dependent coastal states have been the most gravely impacted by global climate and Coronavirus disease 2019 (COVID-19) pandemic crises and are expected to face even greater economic and social challenges in the years to come. While information and research on sustainable and blue tourism in small island developing states (SIDS) does exist, it is hard to find, difficult to analyze, and challenging to turn into policy guidance. This guidance note is a synthesis of findings from a literature review of the inventory of blue tourism resources, consumer market research, and tourism trend monitoring undertaken by the World Bank global tourism team since the start of COVID-19
    DOI: 10.1596/38121
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    New Approaches to Closing the Fiscal Gap (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (65 pages)
    Series Statement: Latin America and Caribbean Semiannual Report
    Parallel Title: Erscheint auch als
    Keywords: Coronavirus ; COVID-19 ; Efficiency ; Fiscal Adjustment ; Fiscal Revenue ; Growth ; Inflation ; Personal Income Tax ; Public Spending
    Abstract: As the COVID+?19 crisis recedes, Latin America and the Caribbean (LAC) is back to work and looking forward. Reported deaths related to the pandemic are low and have plausibly converged to global levels. Yet low vaccination rates in some countries leave them vulnerable to new variants. In most countries, gross domestic product (GDP) and employment have fully recovered their 2019 levels, although forecasted growth rates might be said to be "resiliently mediocre+?: banking systems appear sound, and rising debt burdens are manageable so far, but growth is not expected to exceed the low levels of the 2010 decade. Poverty in terms of income (monetary poverty) has largely receded with the economic recovery, but the longer+?term scars of the pandemic in terms of education and health have planted deep seeds of future inequality. Redressing these problems and undertaking the structural reforms needed to reach higher levels of growth and reduce poverty remain central on the policy agenda. The new and unwelcome entrant in the policy space is inflation. While comparable to advanced country levels and well managed by regional monetary authorities, inflation nonetheless is being propelled by forces that may give it more staying power than originally hoped. Finally, public deficits induced by the pandemic and the need to finance critical government programs and directions have opened a fiscal gap and led to constrained fiscal space. The need to close the fiscal gap, put debt on a sustainable footing, and generate fiscal space to finance necessary physical and social investments has led to a search for new revenues and in particular to pressure to increase income taxes. In looking at any tax hike, concerns center on the possible depressive effects on growth, overall progressivity, and possible incentives for informality. This report presents new evidence on these effects for value added taxes (VAT) and income taxes. It also advocates for steps to cut wasteful government spending and increase government efficiency-both to generate substantial resources and as an entry point to a broader agenda of state modernization and generating public trust
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    Fiscal Transparency During the COVID-19 Emergency : Bosnia and Herzegovina, North Macedonia, and Serbia (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other papers
    Keywords: Corruption ; COVID-19 ; Economic Growth ; Fiscal and Monetary Policy ; Macroeconomics and Economic Growth
    Abstract: The speed, reach, and magnitude of the Coronavirus (Covid-19) pandemic sent a shockwave around the globe that tested the capacity of Public Finance Management (PFM) systems to support governments' responses to crises. Fiscal transparency was not a foremost priority for decisionmakers during the crisis as they sought to put in place emergency measures with imperfect information and under rapidly changing conditions. This report, which complements existing public budgeting assessments that apply internationally recognized PFM frameworks on a regular basis, presents a comparative analysis focused upon experiences with and lessons about fiscal transparency in three countries in the Western Balkans - Bosnia and Herzegovina (BiH), North Macedonia and Serbia. It includes examples of good practices that were deployed in various countries within the region and beyond during their response to Covid-19. In doing so, it aims to distil lessons and provide recommendations about what could be done better in preparation for and during future emergency events
    DOI: 10.1596/38302
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    Overcoming Poverty and Inequality in the Philippines : Past, Present, and Prospects for the Future (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Social Protection Study
    Keywords: COVID-19 ; Inequality ; Poverty ; Poverty and Policy ; Poverty Assessment ; Poverty Impact Evaluation ; Poverty Monitoring and Analysis ; Poverty Reduction
    Abstract: In the past three decades, the Philippines has made remarkable progress in reducing poverty. Driven by high growth rates and structural transformation, the poverty rate fell by two-thirds, from 49.2 percent in 1985 to 16.7 percent in 2018. By 2018, the middle class had expanded to nearly 12 million people and the economically secure population had risen to 44 million. This report is intended to inform public debate and policymaking on inequality in the Philippines. It synthesizes core findings from background analyses of the patterns of inequality and poverty and provides policy pointers. The analysis uses a wealth of data from a variety of sources (detailed in Appendix A). In what follows, section two discusses the poverty and inequality impacts of COVID-19. Section three analyzes what has been driving poverty and inequality over the past three decades. Section four discusses the structural causes of current inequality; and section five examines how they affect recovery patterns. The last section discusses how policy can promote equality and inclusive recovery
    DOI: 10.1596/38346
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    Social Protection Situational Analysis : North Macedonia (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Social Protection Study
    Keywords: Cash Transfers ; COVID-19 ; Employment ; Employment and Unemployment ; Labor Market ; Pensions and Retirement Systems ; Poverty ; Social Analysis ; Social Development ; Social Protections and Assistance ; Social Protections and Labor
    Abstract: North Macedonia has strengthened its social protection system through comprehensive reforms in social assistance, social services, and pensions. This note considers, based on existing evidence, the extent to which the social protection system in North Macedonia satisfies four basic principles: adequacy; balance and effectiveness; equity; and sustainability. The situational analysis note is structured as follows: section two reviews the main poverty and labor market outcomes in North Macedonia, comparing it with peers and relevant country groups. Section 3 introduces a framework to consider the performance of the social protection system and then outlines the broad characteristics of social protection in North Macedonia, by program type and expenditure. Section 4 looks at non-contributory cash transfers to support the poor, the vulnerable and persons with disabilities and assesses the recent social assistance reform. Section 5 discusses social services and assesses the changes in social services as a result of the social protection reform as well as the introduction of case management, which aims to help ensure the provision of integrated services to the poor and vulnerable. Section 6 discusses pensions. Section 7 explores employment and active labor market programs (ALMPs). Section 8 considers the recent social protection response to the Coronavirus disease 2019 (COVID-19) pandemic and section 9 concludes by offering an assessment of the main areas for reform
    DOI: 10.1596/37873
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    Myanmar Economic Monitor, January 2022 : Contending with Constraints (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Business Cycles and Stabilization Policies ; Coronavirus ; COVID-19 ; Digital Divide ; Disease Control and Prevention ; Economic Growth ; Financial Sector ; Fiscal and Monetary Policy ; Foreign Direct Investment ; Health, Nutrition and Population ; Information and Communication Technologies ; Macroeconomics and Economic Growth ; Monetary Policy
    Abstract: Myanmar's economy continues to be severely tested by the ongoing impacts of the military coup and the surge in COVID-19 cases in 2021. While some real-time indicators have improved in recent months, they remain consistent with a much lower level of economic activity than prior to the February coup. Reported COVID-19 cases have fallen to low levels (and few reported cases of the Omicron variant as of early January 2022), while real time indicators of mobility, manufacturing activity, and exports are showing signs of recovering. On the other hand, indicators of conflict suggest that the security environment has deteriorated in many parts of Myanmar, including in states and regions which have historically been relatively peaceful. This has affected businesses' operations, logistics, confidence, and appetite to invest. After the sharp decline in incomes and employment observed across the economy, available indicators suggest domestic demand remains very weak. At the same time, supply-side constraints persist and some have worsened in recent months. Access to kyat liquidity, credit, and foreign currency remains severely constrained. A sharp exchange rate depreciation in September 2021 has raised import prices across the economy, including of fuel and other critical inputs to production, increasing transport costs. Electricity outages are a growing concern and internet disruptions continue to reduce the reliability of firms' and households' connectivity and ability to access information and connect with markets (see Part III: Digital Disruptions and Economic Impacts)
    DOI: 10.1596/36889
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    Brazil Poverty and Equity Assessment : Looking Ahead of Two Crises (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Poverty Assessment
    Keywords: COVID-19 ; Equity ; Equity and Development ; Household Income ; Human Capital ; Poverty Monitoring and Analysis ; Poverty Reduction ; Social Development ; Social Inclusion and Institutions
    Abstract: In 2020, Brazil was about to face socioeconomic disruptions of historical proportions. The onset of the COVID-19 pandemic has broken several undesirable Brazilian records. First, the pandemic wreaked an enormous direct human toll, sickening millions and causing the death of 195,441 Brazilians in 2020 and 619,056 in 2021. Second, the Brazilian economy experienced its worst contraction in recorded history, with real gross domestic product (GDP) per capita growth in 2020 at -4.7 percent (compared to the previous record of -4.4 percent in 2015). Third, COVID-related closures and other measures led to a massive, unprecedented exit of workers, with an estimated 10 million people leaving the labor force between the third quarter of 2019 and the third quarter of 2020. Employment opportunities were scarce for those who remained in the labor force, with the unemployment rate standing at 14.6 percent in the third quarter of 2020. Many individuals at the bottom of the income distribution work in precarious jobs and lack a resilient source of income, forcing them to rely on public transfers during the pandemic. The significant progress in Brazilian households' welfare in the 2000-2010 decade responded mainly to labor market dynamics. Between December 2003 and December 2014, formal employment grew on average 5 percent annually, outpacing annual GDP growth of 3.5 percent (Campos and Souen 2017). Increases in the minimum wage (Cord, Genoni, and Rodriguez-Castelan 2015) and a surge in skills (including more highly skilled labor among the vulnerable) contributed positively to the increase in welfare. Still, a significant share of Brazilian workers has remained informal or not protected by the National Social Security System (INSS). When economic shocks hit Brazil, the labor market outcomes of low-income individuals are the first to be affected. Thus, income effects for the poorest are strongly correlated with the rollout of social protection cash transfers. The Programa Bolsa Familia (PBF) decreased its coverage in the years following the 2014 crisis when Brazil's poverty rate was increasing. Meanwhile, the widespread coverage of the Auxilio Emergencial program in 2020 contributed to the decrease of national poverty rates. Other income groups can weather economic shocks much better. People in middle of the income distribution maintain their steady pensions, and the richest Brazilian recover quickly thanks to savings, wealth, and accumulated assets that help them to adapt
    DOI: 10.1596/37657
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    Timor-Leste Economic Report : Investing in the Next Generation (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: COVID-19 ; Economic Growth ; Health Economics and Finance ; Health Policy and Management ; Health, Nutrition and Population ; Macroeconomic Management ; Macroeconomics and Economic Growth
    Abstract: Buffeted by COVID-19 and Tropical Cyclone Seroja, the non-oil economy grew by 1.5 percent in 2021. A record-high budget with expenditure of nearly 90 percent of GDP bolstered government consumption. A series of fiscal and quasi-fiscal stimulus measures supported employment and incomes, thereby allowing households to maintain their consumption. On the demand side, gross capital formation shrunk while net exports expanded. The oil economy grew by 8.3 percent, bringing the total economic growth to 4.4 percent.1 The government lifted the pandemic-related state of emergency at the end of November 2021, but challenges remain. Following a relatively brisk start, the vaccination campaign has moved sluggishly in recentmonths. Nevertheless, the authorities have initiated vaccination of children and adolescents between 12 and 18 years old, while booster shots have been made available. There has been a concerning surge of Dengue Fever with 5,000 reported cases (and 54 fatalities) to date since January 2022-a more than seven-fold increase from the same period a year ago. All restrictions for inbound international vaccinated travelers to Timor-Leste havebeen rescinded. By the end of May 2022, the partly vaccinated and fully vaccinated figures in Timor-Leste stood at 85.4 percent and 73.4 percent, respectively
    DOI: 10.1596/37604
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    Iraq Economic Monitor, Spring 2022 : Harnessing the Oil Windfall for Sustainable Growth (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: COVID-19 ; Governance ; Gross Domestic Product ; Irrigation ; Macroeconomics and Economic Growth
    Abstract: Iraq's economy is gradually emerging from the deep recession caused by the pandemic and the plunge in oil prices in 2020. Higher oil revenues pushed Iraq's overall fiscal and external balances into a surplus in 2021. The turnaround in oil markets has significantly improved Iraq's economic outlook in the medium term. Iraq's fiscal and socio-economic fragilities underscore the urgency of wide-ranging structural reforms by the new government. Iraq's existing food security challenges have intensified with the recent surge in global commodity prices. To plug the food supply gap, Iraq has become increasing reliant on imports for more than half of its food consumption, which has increased the country's exposure to global food price and supply shocks. Subsidies and direct transfers, including recently new measures announced by Government of Iraq (GoI), partly mitigate the impact of rising global prices in the short term. However, achieving food security calls for coordinated efforts to improve domestic production including through raising the efficiency of irrigation water, reducing and rehabilitating soil degradation, improving land management, and implementing climate change adaptation and mitigation measures including the adoption of climate-smart agriculture
    DOI: 10.1596/37565
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    Madagascar Economic Update : Navigating Through the Storm (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Agriculture ; Conflict and Development ; Coronavirus ; COVID-19 ; Economic Insecurity ; Education Reform ; Finance and Financial Sector Development ; Financial Crisis Management and Restructuring ; Food Security ; Macroeconomics and Economic Growth ; Water Resources
    Abstract: Development prospects in Madagascar continue to be hampered by the country's low growth potential and exposure to frequent, deep, and persistent crises. Following a recession in 2020 that was about three times deeper than in the rest of Sub-Saharan Africa, an economic recovery started in Madagascar in 2021 but was interrupted in 2022 by a sequence of domestic and international shocks. In addition to these new headwinds, the growth potential of the economy has been negatively impacted during the crisis by a retrenchment in private investment, deteriorating human capital and weakening governance. In this context, growth projections were downgraded to 2.6 percent in 2022 and to an average of 4.4 percent in 2023-2024, with the poverty rate now expected to remain close to 80 percent by 2024. This can only happen if the government kickstarts far-reaching reforms supporting private investment and job creation, better access to basic services and infrastructure, and greater resilience to shocks. Several policy priorities are highlighted as particularly urgent in this Economic Update. This report also highlights the importance of boosting public school performance following the continued deterioration in learning outcomes and advocates for a set of reforms reinforcing teachers' selection and evaluation, salary and school grant management, redress mechanism and local community engagement
    DOI: 10.1596/37506
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    Expecting the Unexpected : Tools and Policy Considerations to Support the Recovery and Resilience of the Tourism Sector (2022)
    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 Forecasting ; Economic Growth ; Economic Stabilization ; Macroeconomics and Economic Growth
    Abstract: Tourism has been, and continues to be, one of the most affected sectors by the pandemic, resulting in negative socio-economic consequences for host communities in destinations as well as for underlying endowments that rely on tourists' expenditure for maintenance and management. The aim of this report is to provide insights regarding the types of interventions governments have already implemented and policy considerations for supporting the recovery and resilience of the tourism sector going forward, particularly in light of structural demand and supply-side transformations precipitated or accelerated by Coronavirus disease 2019 (COVID-19). The report studies the challenges for recovery faced by governments and the sector from the context of preexisting market and government failures that have been exacerbated by the crisis, as well as those emerging from the pandemic. The report includes several key findings and recommendations
    DOI: 10.1596/37858
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    Jamaica - Systematic Country Diagnostic : Boosting Recovery and Sustainable Economic Growth (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Systematic Country Diagnostics
    Keywords: COVID-19 ; Economic Conditions and Volatility ; Economic Growth ; Economic Recovery ; Gross Domestic Product ; Inflation ; Macroeconomics and Economic Growth ; Poverty Diagnostics ; Poverty Reduction
    Abstract: This first Systematic Country Diagnostic (SCD) for Jamaica comes at a pivotal time. The country is seeking a return to the pre-COVID-19 path of fiscal consolidation amid a slow COVID vaccine roll-out, high inflationary pressures, and persistent structural constraints to growth.1 COVID-19 laid bare existing vulnerabilities, causing real Gross Domestic Product (GDP) to contract a record 10 percent in 2020, with a near closure of most tourism activities depressing incomes for more than 40 percent of the country's workers. The government deployed countercyclical fiscal measures to stem the economic downturn, while strengthening the health sector, supporting the financial sector, and mitigating the impact on poor households through further income support. Inflation had surged to 11.8 percent as of April 2022, posing a growing threat to the purchasing power of the poor in particular. The monetary authorities have been proactive, but rising interest rates could undermine the ongoing recovery. In 2020, the government committed to ambitious targets under the Paris Agreement to transform Jamaica into a low-emissions and climate-resilient economy
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    South Asia Economic Focus (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (212 pages)
    Series Statement: South Asia Economic Focus
    Parallel Title: Erscheint auch als
    Keywords: Balance of Payments ; Commodity Prices ; Coronavirus ; COVID-19 ; Food Insecurity ; Inflation ; Labor Market ; Migration ; Pandemic ; Remittances
    Abstract: South Asia is facing renewed challenges. The impact of the Russia-Ukraine war on food and energy prices on domestic inflation is long-lasting. Externally, countries' current account balances deteriorate rapidly as imports rise on the back of economic recovery and rising inflation, remittances decline, and foreign capital flows out following monetary tightening in advanced economies. An economic slowdown in advanced economies and trading partners can also be a drag to the exports sector and remittances inflows, which many countries in the region depend on. These immediate challenges can translate to persistent deterrent to long-term growth and development. Higher energy prices already are changing the attitude of many countries outside the region about green transition and carbon reduction. The South Asia region is thus at a critical juncture. The theme chapter provides a deep dive into COVID-19 and migration. Migrant workers and remittances flows are important for South Asia as sources of income and means to smooth local income shocks for households, and as an important source of foreign reserves for the country. The pandemic changed the flows of migration, as some migrants had to return home and some had to stay in foreign countries due to COVID-related restrictions. The chapter studies the long-run trend of migration in the region, how COVID-19 impacted migration and remittance inflows, whether migration has (or has not) recovered, and proposes policies to address underlying problems
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    Rwanda Economic Update, January 2022, Edition No. 18 : Boosting Regional Integration in the Post-COVID Era (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Business Cycles and Stabilization Policies ; Coronavirus ; COVID-19 ; Economic Growth ; Economic Recovery ; Fiscal and Monetary Policy ; Inequality ; Macroeconomics and Economic Growth ; Poverty Reduction
    Abstract: Global economic growth has picked up in 2021 and has now surpassed its pre-pandemic level. The National Bank of Rwanda (NBR) has maintained an accommodative monetary stance and other measures to support the recovery, taking advantage of low inflation. The government's continued fiscal expansion is also providing support to the economy. Regional integration offers significant benefits for Rwanda, including greater potential for scale economies, opportunities for learning to export and produce higher-quality goods, and cooperation to improve trade facilitation. Regional trade will be enhanced by boosting trade with non- East African Community (EAC) members. The African continental free trade area (AfCFTA) can boost growth and trade integration. The development of Rwanda as a regional logistics hub, serving as an intermediating node between the East and Central Africa regions offers prospects to increase revenues and generate efficiency gains through the concentration of logistics services. The white paper on logistics and distribution services strategy for Rwanda, prepared with the support of the World Bank, laid out a two-phase strategy for the rollout of Rwanda as regional logistic hub. This involved: (i) improving the efficiency of Rwanda's role as a land-bridge for re-exports to Goma in Democratic Republic of Congo (DRC); and (ii) establishing a regional logistics hub in Rwanda linked to a primary multi-modal hub at Kisangani and a secondary multi-modal hub at Kindu
    DOI: 10.1596/36928
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    Solomon Islands High Frequency Phone Survey on COVID-19 : Results from Round Two; Data Collection; December 2020 - January 2021, and April 2021 (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Poverty Study
    Keywords: Conflict and Development ; Coronavirus ; COVID-19 ; Disaster Management ; Poverty Assessment ; Poverty Reduction
    Abstract: This report presents the findings of the second of five planned rounds of mobilephone surveys, as well as the results of a companion survey funded by UNICEF. Thefirst World Bank High Frequency Phone Survey (HFPS) in Solomon Islands on thesocioeconomic implications of the coronavirus pandemic found wide rangingimpacts that deserve to be monitored as long as the pandemic continues
    DOI: 10.1596/37194
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    Indonesia Economic Prospects, June 2022 : Financial Deepening for Stronger Growth and Sustainable Recovery (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Commodity Prices ; COVID-19 ; Economic Growth ; Economic Modeling ; Inflation ; Macroeconomic Management ; Macroeconomics ; Macroeconomics and Economic Growth
    Abstract: Indonesia's economic recovery from the Corornavirus (COVID-19) pandemic comes amidst an increasingly challenging global environment. Indonesia's growth accelerated at the end of 2021 as the country stepped off from a devastating Delta wave in July-August, ending the year with 3.7 percent growth. The momentum carried into the first quarter of 2022 with the economy growing at 5 percent (yoy) and absorbing a short and sharp increase in Omicron-related COVID cases. Growth drivers since end 2021 have rebalanced gradually from exports and public consumption towards private consumption and investment. Since February, the war in Ukraine has disrupted the global economic environment with rising commodity prices and de-risking in global financial markets. The positive terms-of-trade effect has benefited Indonesia in the near-term through higher export and fiscal earnings. But the country is starting to feel the pressures of rising prices and tightening external finance
    DOI: 10.1596/37584
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    Directions for ReformSouth Sudan Country Economic Memorandum : A Country Economic Memorandum for Recovery and Resilience in South Sudan (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Country Economic Memorandum
    Keywords: Agriculture ; Armed Conflict ; Conflict and Development ; COVID-19 ; Food Security ; Natural Resources ; Peace and Peacekeeping ; Post Conflict Reconstruction
    Abstract: South Sudan is at a crossroads in its recovery, reconstruction, and development. Having gained independence in 2011 after two protracted civil wars, the country twice relapsed into conflict: first in 2013 and again in 2016. While the economy began to recover following the 2018 peace deal, progress has stalled amidst a multitude of crises - including the COVID-19 pandemic, climate shocks, and dwindling oil production. At the same time, the broad-based rise in commodity prices due to the war in Ukraine have on balance affected South Sudan adversely. A decade after independence, South Sudan remains caught in a web of fragility and economic stagnation, with weak institutions, recurring cycles of violence, and ubiquitous poverty. Overall, the conflict is estimated to have cost South Sudan an accumulated loss in aggregate GDP of some USD 81 billion during 2012 - 2018, equivalent to USD 11.6 billion per year on average (80 percent of 2010 GDP). Consequently, South Sudan's real GDP per capita in 2018 was estimated at being one third of the counterfactual estimated for a non-conflict scenario. With the fragile peace deal largely holding despite challenges in implementation, the authorities initiated an ambitious reform program aimed at macroeconomic stabilization and modernization of the young country's public financial management systems. This report discusses South Sudan's economic performance since independence, with a focus on leveraging the country's endowments of natural capital - oil and arable land - to support recovery and resilience. Three messages emerge from this report. First, there is a peace dividend in South Sudan. South Sudan's real GDP per capita in 2018 was estimated at one third of the counterfactual estimated for a non-conflict scenario. Thus, maintaining peace can by itself be a strong driver of growth. Second, with better governance and accountability, South Sudan's oil resources can drive transformation. Third, South Sudan's chronic food insecurity could be reversed with targeted investments to improve the resilience of the agricultural sector
    DOI: 10.1596/37532
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    Libya Economic Monitor, Summer 2022 (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Agriculture ; Civil Conflict ; Conflict and Development ; COVID-19 ; Energy ; Food Security ; Health and Poverty ; Health, Nutrition and Population ; Immunizations ; Inflation ; Oil and Gas
    Abstract: Libya is struggling to cope with a trifecta of crises, including the civil conflict, the Coronavirus (COVID-19) pandemic and most recently, the impact of the Russia-Ukraine crisis. Notwithstanding the tempering of conflict intensity since 2021, the Libyan economy has been battered by the conflict. GDP per capita estimates in 2021 stood at about half of its value in 2010 before the start of the conflict. Since 2020, the population has been hit by multiple waves of the COVID-19 pandemic. The health system, already affected by a decade of conflict, has struggled to deliver the necessary access and quality of care amid a raging pandemic. While Libya has reported a marked decline in COVID-19 cases and deaths since March 2022, the vaccination rate remains low. In addition, food insecurity has worsened, precipitated by the Russia-Ukraine crisis and the resulting shortages and price increases for staple foods in the domestic market
    DOI: 10.1596/37947
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    Adaptive Social Protection in Southern Africa (2022)
    Washington, D.C : The World Bank
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    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Social Protection Study
    Keywords: COVID-19 ; Public Sector Development
    Abstract: The countries of the Southern Africa Customs Union (SACU) - Botswana, Eswatini, Lesotho, Namibia, and South Africa are exposed to climatic shocks, especially drought, that pose a continual threat to lives and livelihoods across the subregion. The pandemic has compounded these existing vulnerabilities. Climatic shocks such as these tend to affect the poorest most, exacerbating inequalities and increasing poverty. Food insecurity, which is chronic in the subregion and both a root cause of vulnerability to drought and an outcome of it also increased as a result of impacts from the pandemic. Social safety net programs can help poor and vulnerable households manage the risks they face from shocks, helping to mitigate the impacts on poverty and food insecurity, but their effectiveness can be constrained in several ways. The mobilization of social protection in response to COVID-19 and the challenges that have emerged to that mobilization have strengthened the case for investments in preparedness ahead of future shocks. Adaptive social protection refers to an agenda for preparing social protection systems to improve their response to shocks and to build the resilience of poor and vulnerable households. This report takes stock of ASP in four of the five SACU countries and provides targeted recommendations for each country's development
    DOI: 10.1596/38256
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    From Reacting to Preventing Pandemics : Building Animal Health and Wildlife Systems for One Health in East Asia and the Pacific (2022)
    Washington, D.C : The World Bank
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    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Health Study
    Keywords: COVID-19 ; Food Security
    Abstract: Investing in One Health - cross-sectoral, multidisciplinary coordination and collaboration across the human health, animal health, and environmental health sectors - is crucial for maintaining healthy agricultural and food systems and addressing global health security risks. Such action can reduce the threat of future pandemics through upstream preventive actions, early detection, and agile responses to zoonotic and emerging infectious diseases outbreaks, coupled with measures for promoting food safety, including anti-microbial resistance. This regional review, conducted jointly by the World Bank and the Food and Agriculture Organization of the United Nations, assesses the socioeconomic impacts of zoonotic diseases and epidemics across the East Asia and Pacific region, providing a background on why emerging infectious diseases are occurring more frequently in this region. This review looks at the benefits of using a risk-based approach, assesses the management of animal and wildlife health and the ability to identify and respond to emerging threats and protect the health, agricultural production, and ecosystem services. It provides recommendations on priority activities to be undertaken, and offers governments and their development partners the evidence and analysis needed to make more and better investments in wildlife systems and animal health to improve global health security
    DOI: 10.1596/37447
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    World Bank East Asia and Pacific Economic Update, October 2022 (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (82 pages)
    Series Statement: Europe and Central Asia Economic Update
    Parallel Title: Erscheint auch als
    Keywords: COVID-19 ; Debt ; Diseases ; Finances ; Food ; Food Markets ; Fuel ; Pandemic
    Abstract: East Asia and the Pacific does not so far conform to the current narrative of stagflation. The region, with some exceptions, is growing faster and has lower inflation than other regions. And prospects for several countries have improved, as they bounced back from the distress of the Delta wave in a still buoyant global economy. But this rosy picture must not obscure four impediments to inclusive and sustainable growth: disease, deceleration, debt, and distortions. In particular, current policies to contain inflation and debt are distorting the markets for food, fuel and finance in ways that could compromise development goals. In each case, more efficient measures could address current difficulties without undermining longer term objectives
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    Cambodia Economic Update : Navigating Global Economic Headwinds (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: COVID-19 ; Domestic Economic Sectors ; Global Economic Headwinds ; Inflation ; International Economics and Trade ; Poor Households ; Poverty Reduction
    Abstract: While recovering from Coronavirus (COVID-19),Cambodia's economy is now facing global economic headwinds. The current account improved in the first half of 2022 as the trade deficit narrowed. Rising global energy, fertilizer and food prices prompted a surge in inflation. Rising inflation is particularly harmful to poor households. To mitigate impacts of the food and oil price shock, the authorities are planning to introduce additional social assistance measures, while extending the existing COVID19 cash transfer program until end-2022. Promoting the domestic economic sectors, focusing on the travel, tourism, and hospitality industries should help partly offset the deterioration of external demand conditions. And successful facilitation of coherent private sector leadership of the sector should help create a "crowding-in" effect, anchored to comprehensive long-term plans, catalyzed by public seed funding. It is equally important to address supply chain constraints, which include high logistics and transportation costs to boost export
    DOI: 10.1596/38371
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    Fostering Rwanda Competitiveness and Resilience in the Post-COVID-19 Era (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Economic and Sector Work Reports
    Keywords: COVID-19 ; Economic Growth ; International Trade and Trade Rules ; Macroeconomics and Economic Growth ; Trade Facilitation ; Trade Policy
    Abstract: Rwanda achieved rapid export growth in the decade before the pandemic. In addition, Rwanda has expanded business tourism by promoting the meetings, incentives, conferences/conventions, and events/exhibitions industry. Air transport services was another key export, as a growing number of international airlines are serving Rwanda. However, the Coronavirus (COVID-19) pandemic depressed goods and especially, services exports in 2020. Sustained growth in trade will be a key driver for achieving the government's goal of becoming an upper middle-income country by 2035. While exports have increased significantly over the past two decades, Rwanda remains a less open country than the middle-income countries the government aspires to match. Regional integration can not only provide the needed economic scale for Rwandan firms to improve their productivity and competitiveness, but can also serve as a vital training ground for learning to export and produce higher-quality goods The aim of this report is to assess policy options to foster international trade, deepen regional integration, and reinforce the government diversification strategy through services. The first part of this report assesses Rwandan trade performances and trade potential in recent years, with a special emphasis on regional trade, trade in services, and the impact of the COVID-19. The second part of the report assesses the main drivers and challenges to international and regional trade in Rwanda including: i) trade policy, with special emphasis on non-tariff barriers and the African Continental Free Trade Agreement; ii) trade facilitation with special emphasis on Rwanda's trade logistic ambitions; iii) supply side trade constraints at the firm-level; and iv) specific trade challenges to trade in service and data exchanges. The third part of the report discusses potential recommendations
    DOI: 10.1596/38321
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    Continued Rebound, but Storms Cloud the Horizon : Policies to Accelerate the Productive Economy for Inclusive Growth (2022)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: COVID-19 ; Credit To Private Sector ; Global Commodity Market Shock ; International Economics and Trade ; Pandemic ; Poverty Reduction ; Promoting Vaccination ; Robust Growth
    Abstract: Kenya's rebound from the pandemic continued in 2022. Driven by broad-based increases in services and industry, real Gross Domestic Product (GDP) increased by 6.0 percent Year-on-Year (y/y) in the first half (H1) of 2022. However, the agriculture sector contracted by 1.5 percent during thesame period, and with the sector contributing almost one fifth of GDP, its poor performance pulled back GDP growth by 0.3 percentage points. Notwithstanding the strong y/y creases, GDP has seen a marked sequential slowdown since the 2021 third quarter (Q3) as base effect dissipatedand business confidence weakened because of the global commodity market shock, a long regional drought and domestic political uncertainty in the run up to the August 2022 general elections. Business confidence however picked up in the wake of a smooth transition of power following a largely peaceful presidential election. Kenya's growth prospects remain bright; however, emerging shocks are challenging the broad-based rebound. Thebaseline assumes robust growth of credit to private sector, contained COVID-19 infections, and high commodity prices favorable for Kenyan exports to boost Kenya's growth in the medium term. However, the ongoing shocks, including the long drought in arid and semi-arid areas, rising inflation, and tighter global financial conditions, create challenges for Kenya to sustain its recovery
    DOI: 10.1596/38386
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    Tajikistan Country Economic Update, Summer 2021 : Rebounding Economy, Challenges Remain (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Business Cycles and Stabilization Policies ; Coronavirus ; COVID-19 ; Disease Control and Prevention ; Economic Growth ; Employment ; Fiscal and Monetary Policy ; Foreign Direct Investment ; Health, Nutrition and Population ; Immunizations ; Labor Market ; Macroeconomics and Economic Growth ; Monetary Policy ; Poverty ; Poverty Reduction
    Abstract: After the economic slowdown in 2020, Tajikistan's GDP grew at an annual rate of 8.7 percent in the first half of 2021. According to the Listening-to-Tajikistan (L2T) survey, the social and economic wellbeing of the population severely deteriorated following the outbreak of COVID-19 (coronavirus), and the country remained far from full recovery at the end of 2020. The strong economic rebound was mainly supported by a continued sharp increase in the export of precious metals, and a pickup in private investment and consumption. The cautious and incremental resumption of air traffic with regional countries allowed migrants to resume traveling abroad and restore the inflow of remittances. Domestic economic activity strengthened as the government gradually relaxed lockdown measures. In the beginning of 2021, Tajikistan adopted a National Deployment and Vaccination Plan (NDVP) and launched it on March 23, 2021, after receiving the first 192,000 doses of the Oxford/AstraZeneca vaccine from COVAX
    DOI: 10.1596/36126
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    Unlocking Egypt's Potential for Poverty Reduction and Inclusive Growth : Eqypt Systematic Country Diagnostic Update (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Systematic Country Diagnostics
    Keywords: Coronavirus ; COVID-19 ; Economic Growth ; Employment ; Employment and Unemployment ; Gender ; Human Capital ; Inequality ; Labor Market ; Macroeconomics and Economic Growth ; Poverty Reduction ; Public Debt ; Public Investment ; Public Sector Development ; Social Protections and Labor ; Total Factor Productivity ; Transparency
    Abstract: Systematic Country Diagnostics (SCDs) analyze the most critical constraints and opportunities to ending extreme poverty and promoting shared prosperity in a sustainable manner. The first SCD for Egypt was published in 2015. A lot has happened since then, so this SCD Update takes advantage of a longer stretch of reforms and newer data up to 2019 to identify and again assess the set of priorities through which Egypt can most effectively and sustainably achieve the goals of poverty reduction and shared prosperity
    DOI: 10.1596/36437
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    Chad Poverty Assessment : Investing in Rural Income Growth, Human Capital, and Resilience to Support Sustainable Poverty Reduction (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Poverty Assessment
    Keywords: Agricultural Productivity ; Coronavirus ; COVID-19 ; Food Security ; Human Capital ; Inequality ; Nutrition ; Poverty Assessment ; Poverty Reduction ; Remittances ; Services and Transfers to Poor
    Abstract: This poverty assessment aims to inform poverty-focused policymaking in Chad. The report examines recent trends in poverty, inequality, and other social indicators and identifies key constraints on poverty reduction. Although agriculture, pastoralism, and related activities provide livelihoods for about 80 percent of the population, the capital-intensive oil sector drives macroeconomic growth, exports, and fiscal revenues. Eliminating poverty and boosting shared prosperity in Chad will require robust and sustained interventions along three strategic axes: (i) economic diversification, with a focus on the rural sector; (ii) building resilience to multidimensional shocks; and (iii) accelerating human capital formation. Chad faces enormous challenges, and the effectiveness of its poverty reduction efforts will hinge on factors that extend beyond economic policy, including the reestablishment of peace and security through improved governance, as well as a comprehensive effort to address the country's profound gender disparities
    DOI: 10.1596/36443
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    Bulgaria Systematic Country Diagnostic (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Systematic Country Diagnostics
    Keywords: Access To Finance ; Adaptation To Climate Change ; Carbon Policy and Trading ; Coronavirus ; COVID-19 ; Demographics ; Economic Growth ; Environment ; Fiscal Policy ; Infrastructure ; Innovation ; Macroeconomics and Economic Growth ; Mobility ; Poverty Reduction ; Resilience ; Social Protections and Labor ; Waste
    Abstract: The Systematic Country Diagnostic Update examines the key constraints to and opportunities for sustainably accelerating inclusive growth and boosting shared prosperity in Bulgaria. It builds on the first Systematic Country Diagnostic (SCD) published in 2015, entitled "Bulgaria's Potential for Sustainable Growth and Shared Prosperity". The analysis is organized in three components related to economic growth: strength, inclusiveness and sustainability. Although the earlier diagnostic remains valid for the most part, several contextual factors such as the health, social and economic repercussions of COVID-19, a drive to embrace the digital and green transformation, and a rapidly aging population-have emerged or gained prominence, creating new challenges or sharpening existing ones in all three growth areas. Alongside these mega-trends, institutions and governance continue to play a prominent role through their impacts on all segments of growth
    DOI: 10.1596/36842
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    Exploring the Deployment, Perceived Effectiveness, and Monitoring of Remote and Remedial Learning (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Education Study
    Keywords: Coronavirus ; COVID-19 ; Education ; Educational Institutions and Facilities ; Educational Sciences ; Monitoring and Evaluation ; Teacher Training
    Abstract: This study includes three main sections that have been organized in a chronological order within this report: the first one, "What can we learn from education emergency responses in low- and middle-income countries?" analyzes the emergency education responses to the COVID-19 pandemic of over 120 governments from April until May, 2020. The second section, "Is remote learning perceived as effective? An in-depth analysis across five countries" discusses the main national education responses deployed by Brazil, Kenya, Nigeria, Sierra Leone, and Peru, as well as the perceived effectiveness of these strategies conducted from May until August, 2020. The third section, "What works with remote and remedial strategies? an analysis across 13 countries" builds on key lessons learned during the analysis of the five multi-country experiences and presents global trends of remote learning implemented during school closures and the actions governments adopted to get ready for remedial learning, conducted from August until December 2020. The countries prioritized for the third section are IDA borrowing countries of which six are low-income countries
    DOI: 10.1596/36061
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    Philippines Financial Sector Assessment (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Financial Sector Assessment Program
    Keywords: Bank Supervision ; Bankruptcy and Resolution of Financial Distress ; Capital Markets ; Capital Markets and Capital Flows ; Climate Change ; Coronavirus ; COVID-19 ; Finance and Financial Sector Development ; Financial Crisis Management and Restructuring ; Financial Development ; Financial Regulation ; Financial Regulation and Supervision ; Insurance ; Insurance and Risk Mitigation ; Macroprudential Policy ; Risk Assessment
    Abstract: During the period June 2019 to October 2020 the World Bank (WB) and International Monetary Fund (IMF) teams updated the findings of the FinancialSector Assessment Program (FSAP) conducted in 2010. While the WB and IMF teams were able to visit the Philippines in 2019 in person, the 2020 missions were conducted virtually. This report summarizes the main findings of the mission, and provides policy recommendations
    DOI: 10.1596/36191
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    Building Forward Better to Ensure Learning for All Children in Iraq : An Education Reform Path (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Education Sector Review
    Keywords: Coronavirus ; COVID-19 ; Education ; Education Reform ; Educational Institutions and Facilities ; Labor Market ; Skills Development and Labor Force Training ; Social Protections and Labor
    Abstract: Human capital development is imperative to achieve sustainable economic growth in Iraq. At the heart of Iraq's human capital crisis is a learning crisis, which is exacerbated by effects of the Coronavirus (COVID-19) crisis on education service delivery. The low levels of human capital development, coupled with limited opportunities to gain job-relevant skills, have translated into worsening economic and social outcomes. To overcome these sources of fragility and spur sustainable human capital driven economic growth, change can only be brought about through a comprehensive reform agenda that addresses the inefficiencies in the education sector and promotes a renewed focus on learning. This Iraq education reform note proposes actionable reforms for key education sector inputs to lead to better learning and skills development
    DOI: 10.1596/36060
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    Cabo Verde Economic Update, April 2021 : Rebounding from the Crisis; Restoring Fiscal Sustainability and Leveraging the Private Sector for a more Resilient and Sustainable Recovery (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Business Cycles and Stabilization Policies ; Business Environment ; Coronavirus ; COVID-19 ; Disease Control and Prevention ; Economic Diversification ; Economic Growth ; Fiscal and Monetary Policy ; Fiscal Sustainability ; Foreign Direct Investment ; Health, Nutrition and Population ; Macroeconomics and Economic Growth ; Poverty ; Poverty Reduction ; Private Sector Development
    Abstract: The objective of this report is to provide an update to the Government of Cabo Verde, think-tanks and researchers, and the public on the state of the Cabo Verde economy and its outlook, together with the structural reforms required to strengthen the foundations for private sector-led recovery from the COVID-19 crises. The report begins with a chapter on recent economic developments, the medium-term outlook, and risks. It includes sections on growth, fiscal policy, public debt, the external sector, monetary developments, and inflation. The second chapter stresses the importance of improving the investment climate to leverage the role of the private sector for an inclusive economic recovery. It provides an overview of key challenges and actionable policy priorities around foreign direct investment, the business environment, and competition
    DOI: 10.1596/36255
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    Risks to Poverty, Vulnerability, and Inequality from COVID-19 : Nepal Light Poverty Assessment (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Poverty Assessment
    Keywords: Access of Poor To Social Services ; Coronavirus ; COVID-19 ; Disease Control and Prevention ; Health, Nutrition and Population ; Inequality ; Labor Market ; Living Standards ; Poverty ; Poverty Assessment ; Poverty Reduction
    Abstract: Nepal made significant progress on poverty and shared prosperity over the period 1996-2010, despite low domestic growth. With consistently high rates of vulnerability and exposure to a range of shocks, the risk of falling back into poverty has remained an enduring feature of the welfare narrative in Nepal. The past decade, from 2010 to 2020, has been characterized by a series of economic shocks that took place against a background of a prolonged political transition towards federalism in Nepal. These shocks were also correlated with declines in economic growth. The Coronavirus (COVID-19) crisis, which started in March 2020, is the latest in the series of economic shocks over the last decade which has adversely affected Nepal's economy and labor market; and it is likely to have had adverse welfare effects. However, the lack of data on welfare dynamics during this period has made it difficult to track the impacts of these shocks on households, workers and firms. This light poverty assessment is organized as follows: Section 1 describes the data challenges, and highlights the evolution of measures of non-monetary welfare, pre-COVID; section 2 provides an overview of the impacts of Coronavirus (COVID-19) in Nepal; and section 3 highlights the role of pre-existing vulnerabilities and structural issues in making the Coronavirus (COVID-19) crisis more costly to welfare in the short run, and in potentially deepening inequalities in the longer run
    DOI: 10.1596/36358
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    Gulf Economic Update, Fall 2021 : Seizing the Opportunity for a Sustainable Recovery (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Business Cycles and Stabilization Policies ; Coronavirus ; COVID-19 ; Disease Control and Prevention ; Economic Growth ; Energy ; Fiscal and Monetary Policy ; Gulf Cooperation Council ; Health, Nutrition and Population ; Macroeconomics and Economic Growth ; Oil and Gas ; Public Sector Development ; Public Sector Reform
    Abstract: The economic outlook for the Gulf Cooperation Council (GCC) economies appears far rosier now than it did even six months ago. Increased investment and consumption both public and private are contributing to growth while inflation remains subdued in most economies except for Saudi Arabia where it is currently at 5.5 percent and expected to fall sharply as the impact of last year's Value-Added Tax (VAT) hike falls away. Despite this rosy picture, the authorities should continue to follow the path of prudent macroeconomic management consolidating their fiscal balances, moving ahead with the introduction of VAT in Qatar and Kuwait and focusing on reducing the role of the state in economic management. UAE's government related entities especially those in the construction sector deserve a careful review to ensure that their borrowing remains sustainable and to adjust to the new conditions
    DOI: 10.1596/36654
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    Malawi Economic Monitor, December 2021 : Addressing Macro and Gender Imbalances (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Banking Sector ; Commodities ; Commodity Prices ; Coronavirus ; COVID-19 ; Disease Control and Prevention ; Economic Growth ; Fiscal and Monetary Policy ; Gender ; Health, Nutrition and Population ; Macroeconomics and Economic Growth ; Monetary Policy
    Abstract: After several months of low COVID-19 case numbers, Malawi is facing a fourth wave. While an increasing share of the global population is protected by vaccines, only about 6.5 percent of the population is vaccinated in Malawi, increasing the country's vulnerability to the virus. The Government response to the third wave was less stringent than in previous waves and businesses began adapting to COVID-19 restrictions. Thus, overall, it had less of an economic impact than in earlier waves. However, with cases accelerating rapidly in mid-December, Malawi is beginning a fourth wave of infections induced by the Omicron variant, and the Government has modestly tightened restrictions. Economic growth is projected to pick up from 0.8 percent in 2020 to 2.4 percent in 2021, primarily driven by one-time increases in the agricultural sector. With a population growth rate around 3.0 percent, however, this level of economic growth equates to a contraction in per capita output. Favorable weather, as well as increased fertilizer use due to the Affordable Inputs Program (AIP), led to record harvests. While agriculture accounts for the bulk of overall growth, growth in services and industry sectors has improved but remains tepid. With less stringent social distancing policies, demand is improving from low levels. However, the private sector still faces multiple concerns which weigh on performance and investment. These include limited availability of foreign exchange, compulsory liquidation of foreign exchange, inflation on imported items (particularly fuel), perceptions of heavy taxation, limited credit, and cumbersome regulation. Headline inflation has increased to double digits in November and recent price increases have heightened concerns about the cost of living
    DOI: 10.1596/36747
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    Uganda Economic Update, 18th Edition, December 2021 : Putting Women at the Center of Uganda's Economic Revival (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Business Cycles and Stabilization Policies ; Coronavirus ; COVID-19 ; Disease Control and Prevention ; Economic Growth ; Fiscal and Monetary Policy ; Gender ; Gender and Economics ; Health, Nutrition and Population ; Inequality ; Macroeconomics and Economic Growth ; Poverty ; Poverty Reduction ; Women's Empowerment
    Abstract: Uganda's economy was recovering well, up until the second wave of COVID-19 infections and subsequent lockdown in mid-2021. Since then, activity has rebounded - much like after the first lockdown - but the country is likely to still face a stop-start recovery until there is wider coverage of the COVID-19 vaccine. Notwithstanding this recovery, there has been a rise in poverty and - with the shift back to agriculture for some workers - an increase in household vulnerabilities. We have also seen a widening of inequalities, which have been most severe in the education sector, where schools have now been fully or partially closed for longer than any other country in the world. As a result, Uganda has a long way to go in its quest to build-back-better. Eighteenth Uganda Economic Update includes the special topic of Putting Women at the Center of Uganda's Economic Revival. In line with the structure of earlier editions of the Uganda Economic Update series, this report reviews recent economic developments - with particular attention paid to the effects of the ongoing COVID-19 pandemic - provides an outlook for the macro-economy, and then delves into the special topic
    DOI: 10.1596/36825
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    South Africa : Social Assistance Programs and Systems Review (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Social Protection Study
    Keywords: Coronavirus ; COVID-19 ; Employment and Unemployment ; Grants ; Inequality ; Labor Market ; Poverty ; Poverty Reduction ; Services and Transfers to Poor ; Social Inclusion ; Social Protections and Assistance ; Social Protections and Labor
    Abstract: Despite being an upper middle income country, South Africa's high inequality and the long-lasting legacies of apartheid mean that the country is faced with numerous development challenges, many of which are characteristic of countries with much lower incomes. This paper focuses on social assistance and, specifically, the system of social grants in South Africa. This report aims to review the social assistance system in South Africa to first understand how it functions and what kinds of benefits it provides through which programs, and what tools and systems it uses to do so. Second, it reviews the performance of the system in terms of coverage, targeting, benefit incidence, adequacy, cost-effectiveness, and outcomes. Third, it assesses the extent to which the system is aligned and equipped to address the so called "triple challenge" of poverty, inequality, and unemployment as shown by data. It also reviews the limitations in the design, delivery systems, and institutional coordination at different administrative levels. Based on the analysis, this paper provides some recommendation for what adjustments and improvement the South African social assistance system could undertake in the next fi ve years in order to better align the system address the structural causes of poverty and inequality in addition to providing relief and income support. The report concludes and provides some policy and programme recommendations for the future
    DOI: 10.1596/36514
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    Cambodia : Intergovernmental Fiscal Architecture Study (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other papers
    Keywords: Coronavirus ; COVID-19 ; Fiscal and Monetary Policy ; Fiscal Policy ; Macroeconomics and Economic Growth ; Public Sector Development ; Public Sector Reform ; Public Service Delivery
    Abstract: The Royal Government of Cambodia (RGC) has made a strong commitment to strengthening public service delivery through three interrelated public sector reform initiatives: Public Financial Management Reform Program (PFMRP), National Program for Public Administration Reform (NPAR), and Decentralization and Deconcentration (D and D) reforms. D and D reforms began at the commune and sangkat (CS) level, the lowest tier of sub-national administrations (SNAs), with the direct election of CS councils in 2002. This study reviews the recent changes in Cambodia's intergovernmental fiscal architecture. It starts with the description of the overall sub-national system, then delves into the challenges of managing different aspects of the reform, such as assigning expenditure responsibilities and financing sources. It also assesses the strengths and weaknesses of the public financial management systems at the sub-national levels. The emphasis is at the district and municipality (DM) level, where more service delivery functions and resources are expected to be transferred. The research is based on an extensive review of government documents and regulatory framework, quantitative data analysis, and fieldwork conducted in March 2020. Drawing on its findings, the study offers policy recommendations on how the country's inter-governmental fiscal architecture can be improved over the short and long-term horizons
    DOI: 10.1596/37134
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    Mali Economic Update, Spring 2021 : Protecting the Vulnerable during the Recovery (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Access of Poor to Social Services ; Business Cycles and Stabilization Policies ; Coronavirus ; COVID-19 ; Disease Control and Prevention ; Economic Growth ; Fiscal and Monetary Policy ; Health, Nutrition and Population ; Macroeconomics and Economic Growth ; Poverty ; Poverty Reduction ; Public Finance
    Abstract: The twin shocks of the pa ...
    DOI: 10.1596/36063
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    Tanzania Economic Update, July 2021 : Transforming Tourism - Toward a Sustainable, Resilient, and Inclusive Sector (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Business Cycles and Stabilization Policies ; Business Environment ; Coronavirus ; COVID-19 ; Economic Growth ; Economic Recovery ; Environment ; Fiscal and Monetary Policy ; Investment Climate ; Macroeconomics and Economic Growth ; Poverty ; Poverty Reduction ; Resilience ; Tourism and Ecotourism
    Abstract: The pandemic severely disrupted economic activity in Tanzania, and the World Bank's latest firm-level data suggest that the situation had only modestly improved by the end of 2020. New data sources show that COVID-19 continues to weigh heavily on employment and income. Data for the first quarter of 2021 suggest that recovery remains fragile and uneven across sectors, but economic activity could accelerate in the second half of 2021. The tourism-dependent economy of Zanzibar has been particularly impacted by the COVID-19 crisis. Tanzania's macroeconomic framework remains sound, with low inflation and moderate external and fiscal vulnerabilities
    DOI: 10.1596/36048
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    Gulf Economic Update, August 2021 : COVID-19 Pandemic and the Road to Diversification (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Business Cycles and Stabilization Policies ; Commodities ; Coronavirus ; COVID-19 ; Disease Control and Prevention ; Economic Growth ; Gulf Cooperation Council ; Health, Nutrition and Population ; Macroeconomics and Economic Growth
    Abstract: The COVID-19 pandemic and the decline in global oil demand and prices dealt the GCC countries a health crisis and a commodity market shock. The GCC's aggregate GDP contracted by 4.8 percent in 2020 from 2019, with the growth outturns ranging from -3.7 in Qatar to an estimated -6.3 percent in Oman. The authorities responded to the pandemic with stringent health measures which helped contain the spread of the disease and saved lives but hurt economic activity. Following a year of economic distress, the GCC economies are expected to return to growth in 2021, buoyed by the global economic recovery, projected at 5.6 percent (upgraded by 1.5 percentage points from the projection in January 2021), the revival of global oil demand, expected at 96.5 billion barrels per day (from 91 billion barrels per day in 2020), and the rebound in international oil prices to an annual forecast average USD 56 per barrel (now outpaced by an actual average USD 61.45 in January-May 2021). The forecast is for an aggregate GCC GDP growth of 2.2 percent in 2021, roughly tracking the turnaround in high-income countries, with the outcomes ranging from 1.2 percent for the UAE to 2.4 percent for Saudi Arabia and Kuwait. Thereafter, economic growth in the GCC is expected to firm up to an annual average 3.3 percent for 2022-23. With rising oil prices in the first half of 2021, a potential upside scenario for the second half of the year sees improved current account balances being channeled directly to public sector savings. Because of the exposure to global oil demand and personal service industries and the continuing effects of the pandemic, downside risks to the outlook are also high. In this issue of the Gulf Economic Update, the focus is on fiscal revenues and structural reforms including strategic investments in digitalization and telecommunications. Strategic investment in advanced telecommunications technologies, including 5G, is underway in the GCC. But beyond capital spending on infrastructure, the telecommunications sector would benefit greatly from improvements in the legal, regulatory, and competition frameworks under which service providers operate
    DOI: 10.1596/36041
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    Western Balkans Regional Economic Report, No. 20, Fall 2021 : Greening the Recovery (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Business Cycles and Stabilization Policies ; Coronavirus ; COVID-19 ; Economic Growth ; Economic Recovery ; Employment and Unemployment ; Fiscal and Monetary Policy ; Fiscal Policy ; Inflation ; Labor Market ; Macroeconomics and Economic Growth ; Poverty Reduction ; Social Protections and Labor
    Abstract: Fiscal balances have started to improve as a result of a stronger economic performance, but it will take further effort to replenish buffers. The growth recovery is contributing to buoyant revenue collection across the region, particularly in value-added tax collections, as domestic consumption strengthens. Similarly, a leveling off of public spending in 2021 after the countercyclical surge of 2020 is helping on the expenditure side. As a result, all countries except Bosnia and Herzegovina expect to see a narrower fiscal deficit in 2021, with the average deficit reduced by 2.7 percent of GDP year-on-year. However, the deficits across all economies of the Western Balkans are still above pre-pandemic trends, and the legacy of the pandemic is a stock of public debt that has now reached historic highs in all countries except Serbia and Bosnia and Herzegovina. As the recovery from COVID-19 takes hold, greater efforts will be needed to mobilize and diversify sources of revenue and to streamline expenditure programs, which in turn would help address fiscal vulnerabilities that have arisen during the crisis. In line with global conditions, inflationary pressures in the Western Balkans are on an upward trajectory. Average inflation is projected to reach 2.3 percent in 2021 from 0.9 percent in 2020. On the external side, strengthening demand in advanced economies is driving commodity prices upward and putting pressure on COVID-19-strained logistics networks and global value chains. Similarly, the faster-than-expected recovery in domestic consumption across the region has placed upward pressure on domestic costs, particularly in labor markets during the summer tourism season
    DOI: 10.1596/36402
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    Aggregate Fiscal Impact of COVID-19 (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Public Expenditure Review
    Keywords: Coronavirus ; COVID-19 ; Disease Control and Prevention ; Health, Nutrition and Population ; Macroeconomics and Economic Growth ; Public Debt ; Public Investment ; Public Sector Development ; Taxation and Subsidies
    Abstract: This note analyzes the short-term effects of the COVID-19 (coronavirus) shock during the first year of the crisis and presents alternative medium-term recovery scenarios. It asks a set of questions, and in answering those questions, provides policy suggestions for the Vietnamese authorities'consideration. These questions are: (i) How were tax revenues affected by the shock, and how, in turn, did they affect the fiscal space available to the authorities What tax measures did the authorities implement to mitigate the shock and how successful were they What are the implications for any future tax policy and tax administration reforms (ii) How did the COVID-19 shock affect expenditures What fiscal measures did the authorities implement to mitigate the shocks, and how successful were they (iii) How did the shock affect fiscal balances and public debt (iv) What are the growth and fiscal prospects in the medium term
    DOI: 10.1596/36607
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    Tajikistan Country Gender Assessment (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Country Economic Memorandum
    Keywords: Coronavirus ; COVID-19 ; Employment ; Gender ; Human Capital ; Inequality ; Labor Markets ; Life Expectancy ; Migration ; Poverty Reduction ; Social Protections and Labor
    Abstract: Tajikistan has a lot to show in terms of creating an enabling policy framework for gender equity, yet large gendered challenges remain. The global COVID-19 outbreak is impacting economies around the world, including Tajikistan, in an unprecedented manner and aggravates existing gender challenges. This report is presenting achievements made and challenges still to be addressed in view of gender-equity in Tajikistan, based on a desk study covering using most recent material from Tajikistan national sources, the World Bank, development partners and others. It is oriented towards key strategic objectives of the World Bank Group (WBG) Gender Strategy for the period of FY17-FY23 with relevance for the Tajikistan context
    DOI: 10.1596/36657
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  • 74
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    Strengthening the Link between Economic Growth and Poverty Reduction in Mali : A Poverty Assessment (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Poverty Assessment
    Keywords: Coronavirus ; COVID-19 ; Gender ; Health ; Human Capital ; Inequality ; Poverty Assessment ; Poverty Reduction
    Abstract: This poverty assessment aims to strengthen the analytical foundation for poverty-reduction policies and interventions in Mali. In recent years, important gains have been made across multiple dimensions of household welfare, but poverty in Mali remains widespread and extreme. The COVID-19 induced crisis has reversed much of the progress in poverty reduction achieved in Mali over the last decade. Rural poverty in Mali is strongly associated with employment in low-productivity agricultural activities, large family sizes, and high dependency ratios. Income inequality has increased in recent years, and geographical disparities in wellbeing have widened
    DOI: 10.1596/36587
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    Republic of Congo Economic Update, 8th Edition : Living in Times of COVID-19 (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Business Cycles and Stabilization Policies ; Coronavirus ; COVID-19 ; Disease Control and Prevention ; Economic Growth ; Fiscal and Monetary Policy ; Food Security ; Health, Nutrition and Population ; Macroeconomics and Economic Growth ; Poverty ; Poverty Reduction
    Abstract: The COVID-19 pandemic has taken a relatively modest toll on human lives in the Republic of Congo according to official data but has exacerbated an already fragile Congolese economy. As of September 28, 2021, the Republic of Congo has had 14,244 confirmed cases and 193 deaths, corresponding to a mortality rate of 3.4 per 100,000 population against the global rate of about 60.5. The relative low number of COVID-19 tests performed thus far in the country and findings from seroprevalence studies suggest that the true number of infections may be far higher than the number of confirmed cases. The Congolese economy is estimated to have contracted by 7.9 percent in 2020 compared to a pre-pandemicforecast of a positive growth rate of 4.6 percent, the sixth consecutive year of recession. The Congolese Government took early measures to prevent the spread of the coronavirus. Mobility across the country was restricted to essential goods and services
    DOI: 10.1596/36570
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  • 76
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    The Impact of COVID-19 on Plastic Waste Management in South Asia : Challenges and Policy Recommendations (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Environmental Study
    Keywords: Brown Issues and Health ; Coronavirus ; COVID-19 ; Disease Control and Prevention ; Environment ; Health, Nutrition and Population ; Pollution Management and Control ; Recycling ; Waste Disposal and Utilization ; Waste Management ; Water Supply and Sanitation
    Abstract: This report is part of a larger series of stocktaking and analytical products on plastic pollution in South Asia. It supports the Bank's commitment to work with countries of South Asia to pursue and scale-up policies and programs that help them move toward a circular plastic economy and, in partnership with civil society and the private sector, harnesses the power of innovation to bring viable and sustainable solutions for plastic waste reduction and management across the region. This report is supported through the South Asia Water Initiative (SAWI), a multi-donor trust fund administered by the World Bank and designed to build a shared understanding of transboundary river pollution flows in South Asia, especially plastics pollution
    DOI: 10.1596/36760
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  • 77
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    Timor-Leste Economic Report, December 2021 : Steadying the Ship (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Business Cycles and Stabilization Policies ; Coronavirus ; COVID-19 ; Early Child and Children's Health ; Economic Growth ; Fiscal and Monetary Policy ; Health, Nutrition and Population ; Macroeconomics and Economic Growth ; Public Sector Development
    Abstract: Given the finite nature of petroleum resources and associated sovereign wealth fund, it iscritical for Timor-Leste to build a strong foundation for sustainable revenue mobilization tofinance public spending on development and poverty reduction. Timor-Leste faces the risks ofa fiscal cliff as, under the current spending trajectories, the Petroleum Fund may be fullyexhausted in about ten years. In line with the recent Government's efforts, there is an opportunity to collect more revenue using value-added and property taxes. The income tax rate is among the lowest in the world while most excise tax rates are insufficient. The authorities may consider to: (i) introduce a value-added tax (VAT); (ii) raise outdated excise tax rates; (iii) increase income tax rates, with a view to promoting greater alignment with regional peers; (iv) improve revenue administration by modernizing the tax system and investing in capacity; and (v) evaluate the potential of a property tax and reporting on tax expenditures (while planning a gradual phasing out)
    DOI: 10.1596/36733
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  • 78
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    Kazakhstan Economic Update, Winter 2021/2022 : Economic Recovery during Challenging Times (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Business Cycles and Stabilization Policies ; Climate Change ; Climate Change and Environment ; Coronavirus ; COVID-19 ; Disease Control and Prevention ; Economic Growth ; Economic Recovery ; Environment ; Fiscal and Monetary Policy ; Health, Nutrition and Population ; Inflation ; Macroeconomics and Economic Growth ; Monetary Policy ; Poverty Reduction ; Public Sector Development
    Abstract: After suffering a pandemic-driven slump in 2020, Kazakhstan's economic recovery is on track, having sustained quarterly growth throughout Q3 2021. Reduced COVID-19 cases and the loosening of mobility restrictions support business activities and maintain the rebound in consumer demand. However, annual inflation surged to the highest recorded level since 2016, driven mostly by food price inflation and large-scale disruptions in global supply chains, eroding purchasing power, particularly for lower-income households. We project real GDP growth in the 3.5-4.0 percent range in 2022, although the economy will remain below the pre-pandemic baseline path for the entire forecast horizon. Growth will be supported by robust domestic activity, a supportive fiscal stance, and further progress in vaccination. Despite the improving economic outlook, downside risks remain. The risk of another potential COVID-19 outbreak cannot be ruled out. Rising inflation is another concern and would require a tighter monetary stance, potentially affecting domestic borrowing conditions. Volatile prices and uncertainty over the scale of demand growth for oil are other risks that could weaken the current account and pressure the exchange rate
    DOI: 10.1596/36772
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  • 79
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    Impact of the COVID-19 Pandemic on Municipal Finance (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Public Sector Study
    Keywords: Coronavirus ; COVID-19 ; Finance and Financial Sector Development ; Municipal Financial Management ; National Urban Development Policies and Strategies ; Public and Municipal Finance ; Urban Development ; Urban Health
    Abstract: City local governments have been facing multiple challenges due to the COVID-19 pandemic to secure adequate financial resources for response and recovery. This report assesses the impact of the pandemic on local governments' financial situations through cross-country analysis and comparison. Three indicative types of local government adjustments are discussed and scenario analysis is used to highlight the risks and uncertainties associated with the pandemic's impact and subsequent economic recovery
    DOI: 10.1596/37205
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  • 80
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    Uganda Economic Update, 19th Edition : Fiscal Sustainability through Deeper Reforms to Public Investment Management (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Business Cycles and Stabilization Policies ; COVID-19 ; Economic Growth ; Fiscal and Monetary Policy ; Inflation ; Macroeconomics and Economic Growth
    Abstract: New shocks hit the Ugandan economy in 2022, just as it was recovering as the COVID-19 pandemic waned and related mobility restrictions were fully removed. Commodity price surges and disruptions to trade and supply chains because of the war in Ukraine worsened a global economy that was dragging under the weight of new waves of COVID-19 in some regions and unwinding of stimulus policies. The outlook for Uganda is now one of slower GDP growth with increased vulnerabilities, including in household incomes and food security. The authorities face the challenge to maintain a delicate balance between policies required to support and sustain a growth acceleration and ensuring stability otherwise the start-stop recovery as shocks evolve, will make it impossible for Uganda to build back better
    DOI: 10.1596/38263
    URL: lizenzpflichtig
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  • 81
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    Tunisia Economic Monitor, Spring 2021 : Navigating Out of the Crisis (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Business Cycles and Stabilization Policies ; Coronavirus ; COVID-19 ; Digital Divide ; Disease Control and Prevention ; Economic Growth ; Energy ; Fiscal and Monetary Policy ; Fiscal Policy ; Health, Nutrition and Population ; Information and Communication Technologies ; Macroeconomics and Economic Growth ; Monetary Policy ; Oil and Gas ; Poverty Reduction
    Abstract: Due to disruptions in international trade and tourism triggered by the COVID-19 (coronavirus) pandemic, the Tunisian economy contracted by unprecedented levels during 2020. Fortunately, recent data indicates that the economy stabilized during the first quarter of 2021, with quarter-over-quarter (q-o-q) growth no longer in negative territory. In comparison with regional peers, Tunisia experienced a sharper contraction than others, having entered the crisis while already experiencing slow growth, limited fiscal space, and rising debt levels. While the government managed the first phase of the pandemic well from a health standpoint, this early success waned as controls were relaxed later in 2020. A record 13.3 decline in the tradable services sector and a 11.7 percent drop in exports contributed towards the 8.8 percent economic contraction, as weak global demand depressed industrial and tourism exports throughout 2020. As a result, unemployment rose from 14.9 to 17.4 percent, contributing to the wave of protests breaking out around the country on the 10-year anniversary of the Arab Spring. Some of the recent gains made in poverty reduction will be lost because the share of the population vulnerable to falling into poverty increased during 2020 due to the impact of COVID-19 on the economy
    DOI: 10.1596/36123
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    Non-Performing Loans in East Asia and the Pacific : Practices and Lessons in Times of COVID-19 (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Financial Sector Study
    Keywords: Bankruptcy and Resolution of Financial Distress ; Business Cycles and Stabilization Policies ; Coronavirus ; COVID-19 ; Finance and Financial Sector Development ; Financial Crisis Management and Restructuring ; Financial Regulation ; Financial Regulation and Supervision ; Insolvency ; Macroeconomics and Economic Growth
    Abstract: Authorities in East Asia Pacific (EAP) jurisdictions have adopted a battery of fiscal, monetary, and financial measures aimed at mitigating the unprecedented impacts of the Coronavirus disease 2019 (COVID-19) pandemic on the economy. This report discusses the quality of loan portfolios in the banking sector of EAP jurisdictions and the main vulnerabilities surrounding credit markets that may negatively impact the credit quality of banking portfolios and amplify the effects of the COVID-19 crisis. Most EAP countries entered the pandemic with solid capital and liquidity buffers built up following the global financial crisis (GFC). If non-performing loans (NPLs) are left unaddressed, they can have harmful feedback effects on the banking system and the real economy. Experiences in the aftermath of the Asian financial crisis (AFC), and more recently the GFC, show that many countries were affected by a legacy of high NPLs, which underscores the need for a quick and comprehensive policy response
    DOI: 10.1596/36522
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  • 83
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    Sri Lanka Poverty Assessment : Accelerating Economic Transformation (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Poverty Assessment
    Keywords: Agricultural Productivity ; Coronavirus ; COVID-19 ; Inequality ; Informal Sector ; Job Creation ; Poverty Assessment ; Poverty Reduction
    Abstract: Sri Lanka has an impressive track record of reducing poverty and sharing prosperity more broadly. A dynamic decade that spurred post-war growth and continued with a process of economic transformation led to a productivity boost and labor reallocation from agriculture to industry and services. The COVID-19 pandemic is expected to have resulted in a significant reversal of welfare gains. Before COVID-19, poverty reduction was mainly driven by increased labor earnings from nonfarm sectors. New jobs were created in these sectors but there are concerns about their quality. Progress in improving agricultural earnings was slow; and the performance of social protection continued to be weak-these trends held back further progress in economic transformation and poverty reduction
    DOI: 10.1596/36455
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    Striking a Balance : Toward a Comprehensive Housing Policy for a Post-COVID Colombia (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Urban Study
    Keywords: Coronavirus ; COVID-19 ; Housing Policy ; Municipal Housing and Land ; National Urban Development Policies and Strategies ; Poverty Reduction ; Urban Development ; Urban Governance and Management ; Urban Housing ; Urbanization
    Abstract: Government initiatives to reduce the housing deficit in Colombia go back more than a hundred years, but it was only after the creation of the Ministry of Housing as an independent agency, a decade ago, that national housing policy took on the relevance that it has today. Since then, Colombia has made substantial progress. Building on the progress made by previous governments, since 2018 the national government has promoted a comprehensive, inclusive, and sustainable housing policy, which has led to notable improvements, and enabled significant progress towards achieving the sustainable development goals (SDGs) and implementing best practices in the region. The past two and a half years have been full of positive results and unimaginable challenges, including the Coronavirus disease 2019 (COVID-19) pandemic. In this context, national housing policy in Colombia has started to undergo a transition towards a truly integrated approach, one which addresses several of the challenges discussed in the report. One of the key aspects of this transition is the main thesis developed in this report: the need to intensify housing policy's focus on the qualitative housing deficit after years of concentrated efforts to reduce the quantitative deficit
    DOI: 10.1596/36500
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    Learners with Disabilities and COVID-19 School Closures : Findings from a Global Survey Conducted by the World Bank's Inclusive Education Initiative (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Other Education Study
    Keywords: Coronavirus ; COVID-19 ; Disability ; Distance Learning ; Education ; Education For All ; Educational Institutions and Facilities ; Social Protections and Labor
    Abstract: At the onset of the coron ...
    DOI: 10.1596/36326
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  • 86
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    Recovering Growth : Rebuilding Dynamic Post; Covid Economies Amid Fiscal Constraints (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (60 pages)
    Series Statement: Latin America and Caribbean Semiannual Report
    Parallel Title: Erscheint auch als
    Keywords: COVID-19 ; Crisis ; Digitization ; Economic Growth ; Elasticity ; Electricity ; Excess Mortality ; Growth ; Labor Income Inequality ; Latin America ; Renewable Energy ; Structural Transformation ; Unemployment
    Abstract: After its worst economic crisis in 100 years, Latin America and the Caribbean countries are emerging from the COVID-19 pandemic. The need to recover dynamic, inclusive, and sustainable growth to redress both the legacy of the pandemic and long-standing social needs has never been more acute. However, despite progress in some areas, the region is facing a weaker recovery than expected given the favorable international tailwinds and is likely return to the low growth rates of the 2010s. Moreover, growth could be further slowed by both internal and external factors: the emergence of a new variant of the virus, a rise in international interest rates to combat global inflation, and high levels of debt in both the private and public sector. Beyond offering the current macroeconomic outlook of the region and the near-term challenges it faces, this report explores three broad areas where growth-advancing policies and reforms could be undertaken within a constrained fiscal context: mobilizing sources of revenue that appear to be growthneutral; improving public spending efficiency to free up resources for other purposes; and reallocating spending to areas with highest growth and social impact
    DOI: 10.1596/978-1-4648-1806-6
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    Europe and Central Asia Economic Update, Fall 2021 : Competition and Firm Recovery post COVID-19 (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource (150 pages)
    Series Statement: Europe and Central Asia Economic Update
    Parallel Title: Erscheint auch als
    Keywords: Competition ; Coronavirus ; COVID-19 ; Creative Destruction ; Economic Forecast ; Economic Impact ; Firm ; Government Support ; Post COVID-19 ; Productivity
    Abstract: Although global economic activity is recovering and output in Europe and Central Asia (ECA) is expected to grow in 2021, containing COVID-19 remains a challenge in the region. Enterprise survey data for the emerging and developing countries in the region show that COVID-19 had a profound and heterogeneous impact on firms. Smaller, younger, and female-run businesses were hit harder and had greater difficulty recovering. But the crisis also played a cleansing role and economic activity in ECA appears to have been reallocated toward more productive firms during the crisis, particularly in countries with more competitive markets. Firms with high pre-crisis labor productivity experienced significantly smaller drops in sales and employment than firms with low pre-crisis labor productivity and were also more likely to adapt to the crisis by increasing online activity and remote work. Many governments in ECA implemented broad policy support schemes to address the initial economic fallout from the crisis. Overall, this government support was more likely to go to less productive and larger firms, regardless of the level of their pre-crisis innovation. As economies enter the economic recovery phase, it will be important for policy makers in all countries to phase out broad policy support measures as soon as appropriate and focus on fostering a competitive business environment, which is key to a strong recovery, resilience to future crises, and sustainable, long-term economic growth
    DOI: 10.1596/978-1-4648-1802-8
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    The Distributional Impact of COVID-19 Fiscal Policies on Households, with Emphasis on Da Nang City (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Public Expenditure Review
    Keywords: Cash Transfers ; Coronavirus ; COVID-19 ; Disease Control and Prevention ; Fiscal Policy ; Health, Nutrition and Population ; Household Income ; Inequality ; Poverty ; Poverty Reduction ; Public Sector Development ; Services and Transfers To Poor ; Social Protections and Assistance ; Social Protections and Labor
    Abstract: This note will examine the distributional and efficiency issues associated with the fiscal response to the COVID-19 (coronavirus) crisis in Da Nang city and nationally in Vietnam. More specifically, we look at the social assistance (cash transfer) programs. Did these programs efficiently reach people who were the most in need Was the amount of support and the duration of programs sufficient Based on the World Bank COVID-19 monitoring surveys, national-level results indicate that cash transfer programs may have ended prematurely and were not received by the poorest groups or by those who lost their jobs due to pandemic-related factors. Official data also show that the scope of the implementation was smaller than planned, both in the number of new beneficiaries who received access and in terms of the amount spent
    DOI: 10.1596/36606
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    The Impact of COVID-19 Crisis on Subnational Public Finance : The Case of Danang City (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Public Expenditure Review
    Keywords: Coronavirus ; COVID-19 ; Finance and Financial Sector Development ; Municipal Financial Management ; Public and Municipal Finance ; Public Sector Development ; Urban Development
    Abstract: The national economy of Vietnam was affected by the April 2020 lockdown meant to contain the domestic spread of the COVID-19 (coronavirus) virus and subsequent outbreaks in Da Nang and Ho Chi Minh City. Nevertheless, the economy showed exceptional resilience. Gross domestic product (GDP) grew by an estimated 2.9 percent in 2020, one of the few economies in the world that grew during the pandemic. At the sectoral level, the services sector, especially the tourism-related subsectors, have borne the brunt of the COVID-19 crisis, with accommodation and catering services dropping by about 15.0 percent in 2020 compared to 2019, while the number of foreign visitors in 2020 was only 21 percent of the number a year ago
    DOI: 10.1596/36588
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    How Will Vietnam Blossom? : Reforming Institutions for Effective Implementation (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Systematic Country Diagnostics
    Keywords: Climate Change ; Climate Change and Environment ; Coronavirus ; COVID-19 ; Disease Control and Prevention ; Economic Development ; Economic Growth ; Environment ; Health, Nutrition and Population ; Inequality ; Macroeconomics and Economic Growth ; Poverty Reduction
    Abstract: Vietnam's development aspiration to become a high-income country by 2045 has not changed in recent years, but the pathways to achieve that status have. First, the COVID-19 pandemic, coupled with the forces of deglobalization and higher recognition of the country's vulnerability to external shocks, especially climate change, has unleashed undercurrents that pose significant challenges to Vietnam's current growth model. Second, the accumulated challenges of an uneven implementation record of the past 35 years have left Vietnam's institutions underprepared to address more complex development challenges, many of which are cross-cutting in nature, such as climate change and support of a higher-income society. The Systematic Country Diagnostics (SCD) Update will analyze how these two challenges-one contemporary and one historic-are expected to reorient the country's development priorities and what Vietnam needs to do differently to achieve its development aspiration
    DOI: 10.1596/36797
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    Malaysia Economic Monitor, December 2021 : Staying Afloat (2021)
    Washington, D.C : The World Bank
    Details
    Language: English
    Pages: 1 Online-Ressource
    Series Statement: Economic Updates and Modeling
    Keywords: Business Cycles and Stabilization Policies ; Coronavirus ; COVID-19 ; Disease Control and Prevention ; Economic Growth ; Economic Recovery ; Fiscal and Monetary Policy ; Health, Nutrition and Population ; Inequality ; Macroeconomics and Economic Growth ; Poverty ; Poverty Reduction ; Services and Transfers To Poor
    Abstract: Following the surge in COVID-19 infections in Q3 2021, Malaysia is gradually emerging from the worst wave of the pandemic. As a result, the Malaysian economy is expected to be on a recovery path next year. In the near-term, it is key to ensure that targeted support measures remain in place. The Malaysia Economic Monitor (MEM) consists of two parts. Part 1 presents a review of recent economic developments and a macroeconomic outlook. Part 2 focuses on a selected special topic that is key to Malaysia's medium-term development prospects and to the achievement of shared prosperity
    DOI: 10.1596/36795
    URL: Deutschlandweit zugänglich
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