Growth in Asia and the Pacific outperformed expectations in late 2023, reaching 5.0 percent for the year. Inflation has continued to decline, albeit at varying speeds: some economies are still seeing sustained price pressures, while others are facing deflationary risks.In 2024, growth is projected to slow modestly to 4.5 percent. …
The Blue Economy is one of the emerging strong pillars of socioeconomic and ecological development and growth across the world. It is one of the few resource-base whose exploitation can be conducted sustainably, and also whose ecological protection can generate economic value. In 2020, the United Nations Economic Commission for …
This paper emphasizes the unique and crucial contribution that Asia can make to climate action and calls for businesses across the region to be at the forefront of this important drive. While there are significant economic opportunities to be realized, corporate ambitions and commitments are meaningful only if combined with …
There are many indicators of energy security. Few measure what really matters—an affordable and reliable energy supply—and the trade-offs between the affordability and reliability. Reliability is physical, affordability is economic. The latest Russian invasion of Ukraine highlights some of the problems with energy security, from long-term contracts being broken to …
Growth across Sub-Saharan Africa remains sluggish, dragged down by uncertainty in the global economy, the underperformance of the continent’s largest economies, high inflation, and a sharp deceleration of investment growth, a World Bank report said. In the face of dampened growth prospects and rising debt levels, African governments must sharpen …
Tunisia's economic recovery slowed in 2022 while the current account and fiscal deficit rose amid mounting global energy and food prices and more working-age people stayed out of the labor market amid diminishing job prospects, according to the World Bank's Spring edition 2023 of the Tunisia Economic Monitor. The report …
Economies in the Middle East and North Africa (MENA) are expected to grow at a slower pace in 2023, as double-digit food inflation adds pressure on poorer households and the impact of food insecurity can span generations, according to the World Bank’s latest economic update. Titled "Altered Destinies: The Long-Term …
Growth in sub-Saharan Africa will decline to 3.6 percent this year. Amid a global slowdown, activity is expected to decelerate for a second year in a row. Still, this headline figure masks significant variation across the region. The funding squeeze will also impact the region’s longer-term outlook. A shortage of …
India’s growth continued to be resilient, despite some signs of a moderation in the second half of FY22/23. Global economic activity slowed in the second half of 2022 on the back of synchronized monetary policy tightening, deteriorating financial conditions and ongoing inflationary pressures. However, the reopening of China’s economy and …
The International Monetary Fund (IMF) forecast in their latest World Economic Outlook published, that global growth will bottom out at 2.8 percent this year before rising modestly to around three percent in 2024, representing a 0.1 per cent fall on its January projections. Global inflation is also heading down, signalling …
The report on State Energy Efficiency Index (SEEI) 2021-22 has been released during the review, planning and monitoring meeting of states and state utilities. The index developed by the Bureau of Energy Efficiency in association with Alliance for an Energy-Efficient Economy, assesses the annual progress of states and union territories …
South Asia’s outlook is shaped by both good and bad news in the global economy. Lower commodity prices, a strong recovery in the services sector, and reduced disruptions in value chains are aiding South Asia’s recovery but rising interest rates and uncertainty in financial markets are putting downward pressure on …
The UN SDGs highlight the importance of energy indicators in achieving sustainable development. The supply side of energy in Tanzania has received a significant boost and there are optimistic targets to suggest further improvements in this area. However, past experiences have shown that the problems of financial constraints and the …
The Survey, published annually since 1947, is a flagship publication produced by the United Nations Economic and Social Commission for Asia and the Pacific (ESCAP). It provides analyses to guide policy discussion on the current and emerging socio-economic issues and policy challenges to support sustainable development in Asia and the …
This book examines the role for natural resource wealth in driving Africa’s economic transformation and the implications of the low-carbon transition for resource-rich economies. Resource wealth remains central to most Sub-Saharan African economies, and significant untapped potential is in the ground. Subsoil assets—such as metals, minerals, oil, and gas—are key …
Arctic Council countries have a critical role in reducing air pollution as, due to their proximity to the Arctic region, improving air quality serves the double purpose to preserve the Arctic climate and improve health and welfare in the region. To substantially reduce air pollution and its negative health and …
In February 2023, Stock Market indicators from selected African markets, showed mixed trends on monthly and annual basis. On annual basis, stock market indices in Egypt, Nigeria, Tunisia and South Africa improved by respective rates of 52.6 percent, 17.7 percent, 13.6 percent and 2.2 percent in February 2023 compared to …
More than at any time in the history, climate change is having an increasingly unprecedented effect on human lives. Economies are affected severely in terms of sovereign risk due to climate change variations influencing the macroeconomy. Asian countries are highly susceptible to economic downturn due to the consequences of climate …
The end of extreme poverty may finally be achieved by 2050, spurred by economic growth in low-income countries, according to a new economic forecast. Though the Covid pandemic began to reverse progress in eradicating extreme poverty, and additional challenges will emerge, the damage may have a very limited impact on …
With economic growth reaching 3.7 percent in 2022, Mozambique’s economy is gaining momentum amid a challenging global context. Agriculture and services saw a good performance, owing to higher agricultural productivity and the full resumption of mobility. Increased external demand and prices for Mozambique’s key export commodities, notably coal and aluminum …
In January 2023, out of 36 African currencies reviewed, 29 currencies depreciated against the USD on annual basis, while 7 currencies recorded appreciations (see Table 19). The highest currency depreciation against USD was recorded for the Zimbabwean Dollar at 57.5 percent. Of the seven currencies that recorded appreciations against the …
