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. …
Sustainable Development Goal 7 (SDG 7) targets universal access to energy, an increased share of renewable energy in the global energy mix, and doubling the rate of energy efficiency improvement. While the Asia-Pacific region has made considerable progress in meeting SDG 7 targets, much more work needs to be done …
Sahelian countries must accelerate growth and prioritize climate adaptation to alleviate poverty and address food insecurity - new World Bank Group report. Newly released Country Climate and Development Report (CCDR) for the G5 Sahel region estimates that up to 13.5 million people across the Sahel could fall into poverty due …
Climate change is intensifying food insecurity across sub-Saharan Africa (SSA) with lasting adverse macroeconomic effects, especially on economic growth and poverty. Successive shocks from the war in Ukraine and COVID-19 pandemic have increased food prices and depressed incomes, raising the number of people suffering from high malnutrition and unable to …
Japan has one of the highest installed renewable energy capacities in the world. The country is also one of the world’s largest consumers of energy. Lacking its own fossil fuel resources, it relies on imports for nearly all of its supply. This dependence on imports makes the country vulnerable to …
The Yearbook series is a result of joint efforts by major African regional organizations to set up a joint data collection mechanism of socioeconomic data on African countries as well as the development of a common harmonized database. The Joint African Statistical Yearbook is meant to break with the practices …
Still reeling from the COVID pandemic and Russia’s invasion of Ukraine, the global economy is facing an increasingly murky and uncertain outlook, according to this latest report by the International Monetary Fund (IMF). The World Economic Outlook Update July 2022: Gloomy and More Uncertain, highlights the significant consequences of the …
An economic modelling study of three African countries – Côte d’Ivoire, Kenya and South Africa – shows that a shift towards a circular plastics economy will generate more economic activity and create more jobs than a business-as-usual scenario. A new report from the World Wide Fund for Nature (WWF) shows …
Sustainable economic development based on the oceans and meeting the aspirations of individual countries, the African Union, economic actors and the African public has many different labels. The choice of either of the terms ‘blue’ or ‘ocean’ linked to ‘economy’ are used in different contexts, but the key attributes desired …
This report examines the possible financial implications of phasing out fossil fuels in six emerging economies based on scenarios published by the International Energy Agency in its 2021 World Energy Outlook and suggests strategies for managing the transition. To comply with the Paris Agreement, the world will have to phase …
India’s financial sector has faced many challenges in recent decades, with a large, negative, and persistent credit to GDP gap since 2012. Examine how cyclical financial conditions affect GDP growth using a growth-at-risk (GaR) approach and analyze the link between bank balance sheets, credit growth, and long-term growth using bank-level …
This paper presents ways for China to achieve its climate goals while also attain high-quality growth—growth that is balanced, inclusive, and green. Using a dynamic computable general equilibrium model that is calibrated to China, multiple scenarios are considered that incorporate a sequence of layered policies: (i) frontloading mitigation with an …
In the first half of 2022, many electricity markets continued to experience skyrocketing prices, particularly in Europe, reflecting deep uncertainties over both fossil fuel supplies and the economic outlook. Russia’s invasion of Ukraine shattered any hope of energy prices declining in the near term following the strong increases seen in …
The creation of the African Continental Free Trade Area (AfCFTA) provides a unique opportunity to boost growth, cut poverty, and reduce Africa’s dependence on the boom and-bust commodity cycle. A World Bank (2020) report estimates that the AfCFTA has the potential to raise income in the continent by 7 percent …
The Indian gig workforce is expected to expand to 23.5 million workers by 2029-30, a near 200 per cent jump from 7.7 million now, according to a first-of-its-kind report by NITI Aayog. The report ‘India’s Booming Gig and Platform Economy’ estimates that gig workers will form 4.1 per cent of …
The SDG indicator 6.3.2 (SDG 632) methodology helps countries to report on ambient water quality in a consistent and straightforward manner and has undergone several iterations since conception in 2016. Gathering feedback from those tasked with reporting for their country ensures that the SDG indicators maintain their relevance and that …
This latest edition of the NDU says that inflation in Nigeria, already one of the highest in the world before the war in Ukraine, is likely to increase further due to the rise in global fuel and food prices caused by the war. And that is likely to push an …
The Net Zero Stocktake 2022 report shows that target-setting momentum continues and measures of quality are improving, but also that an alarming lack of credibility pervades the entire landscape. Net zero is the dominant lens through which countries, states and regions, cities and companies approach decarbonisation. With global coverage of …
Ghana has enjoyed two decades of steady growth, but the impact of the Covid-19 pandemic and the Ukraine-Russia crisis could dent economic prospects, according to an African Development Bank report. The report, titled ‘Transforming Ghana,’ reviews the country’s development over the past ten years (2012–2021) and evaluates the African Development …
In the past two decades, Maldives has achieved remarkable economic progress and reductions in poverty. However, the country faces high exposure to global risks including an . existential threat of rising sea levels. A unique feature of Maldives is the economic enclaves that encourage industry and international tourism. The general …
A new report from Endeavor Nigeria reveals that Africa’s digital economy and tech ecosystem is set to experience exponential growth periods. The report is dubbed “The Inflection Point: Africa’s Digital Economy is Poised to Take Off.” It highlights important events in the continent’s tech ecosystem until this point, compares its …
