The World Meteorological Organization’s State of the Climate in Asia 2024 report warns that the region is warming nearly twice as fast as the global average, driving more extreme weather and posing serious threats to lives, ecosystems, and economies. In 2024, Asia experienced its warmest or second warmest year on …
On current trends, the future of global poverty reduction will be determined by Sub-Saharan Africa. Yet even during Sub-Saharan Africa’s period of high economic growth — roughly corresponding to the first decade and a half of the 2000s — the extent to which this growth translated into improved living standards …
As Djibouti embarks on its second phase of development, it is crucial to ensure that the benefits of growth are felt by all segments of society, particularly women and youth. To achieve this, three critical priorities have been identified in the Country Economic Memorandum (CEM): (i) enhance economic resilience and …
The Indian economy is likely to grow at over 7 per cent in the coming years and is expected to become the third-largest economy in the world in the next three years, with a GDP of $5 trillion, driven by domestic demand along with supply-side measures such as investment in …
Prospects for Children in 2024: Cooperation in a Fragmented World is the latest edition of the Global Outlook, a series of reports produced each year by UNICEF Innocenti – Global Office of Research and Foresight, which look to the key trends affecting children and young people over the following 12 …
Global growth is expected to slow further this year, reflecting the lagged and ongoing effects of tight monetary policy to rein in inflation, restrictive credit conditions, and anemic global trade and investment. Downside risks include an escalation of the recent conflict in the Middle East, financial stress, persistent inflation, weaker-than-expected …
Somalia has remained on a strong economic reform path despite the various global and exogenous shocks that have continued to buffet the economy. Recurrent climate-related shocks, such as cycles of droughts, floods, locusts’ infestation, higher international commodity prices, as well as increased insecurity and conflict, have interrupted the country’s growth …
Notwithstanding slower global growth and lingering impacts of recent catastrophic floods, private sector activity, outside the oil sector, has been supported by a relative return to peace, and higher government spending. Nevertheless, the economy is estimated to have contracted by 0.4 percent in FY23/24, reflecting drags from oil production. Supported …
Global economic growth is projected to slow from an estimated 2.7 per cent in 2023 to 2.4 per cent in 2024, trending below the pre-pandemic growth rate of 3.0 per cent, according to the United Nations World Economic Situation and Prospects (WESP) 2024. This latest forecast comes on the heels …
Kenya’s economic performance strengthened in 2023 despite continued challenges, with real GDP growth accelerating from 4.8% in 2022 to an estimated 5% in 2023. This is according to the 28th edition of Kenya Economic Update (KEU) which adds that the improved growth performance is attributed to a strong rebound in …
This report assesses the current literature on how risks and impacts from climate change will affect physical infrastructure important for global trade. The authors focus on three areas – marine transport, land-based transport and air transport – and explore how climate impacts such as sea-level rise, flooding, drought, storms, heat, …
The Government of Nigeria avoided a fiscal cliff by implementing bold reforms, including ending the gasoline (premium motor spirit, PMS) subsidy, and shifting to a unified, market-reflective foreign exchange (FX) rate. These essential reforms entail painful adjustments. They have led to an increase of retail gasoline prices by an average …
The government of Malawi, under its recent national development strategy and vision (Malawi 2063), plans to transform the country into an upper-middle-income country by 2063. Achieving this goal will require strengthening efforts to foster high and sustained economic growth. It will also require ensuring that current and future growth have …
Migration will likely become increasingly important for Tunisia in terms of both inflows and outflows, given the demographic transition in both Tunisia and Europe. As such Tunisia can work (also with partner countries) to maximize the benefits of migration. As a country of mainly emigration, Tunisia could help strengthen the …
In a trade-connected world, an adverse impact on economic growth on account of temperature shock in one economy may have a spillover effect on other economies. The current study quantitatively evaluates the impact of temperature shock on economic growth, during 1971--2019 for 168 economies, through direct and spillover channels. The …
Projections for Africa’s average real GDP growth for 2023 and 2024 have been revised downwards. Growth is now projected at 3.4% in 2023 and 3.8% in 2024. These growth rates are lower than predicted in the 2023 AEO launched in May by 0.6 percentage points and 0.5 percentage points, respectively. …
The theme of the 2023 Economic Report on Africa is “Building Africa’s Resilience to Global Economic Shocks.” The report focuses on the impact of multiple and recurring global shocks on African economies. It examines how these shocks impede Africa’s prospects of reaching the targets set in the Sustainable Development Goals …
The fourteenth edition of the South Africa Economic Update, Safety First: The Economic Cost of Crime in South Africa, discusses South Africa’s economic prospects and highlights the critical need to address the challenge of high crime, to reduce its adverse effects on the economy and society at large. South Africa's …
The Jharkhand government has announced the implementation of the MSME Promotion Policy 2023, marking a significant step in supporting the state’s economic growth. The policy, detailed in the government’s gazette notification, introduces a range of relaxations and incentives for Micro, Small, and Medium Enterprises (MSMEs). Under this policy, MSMEs in …
UNCTAD’s Least Developed Countries Report 2023 calls on the global community to urgently address the critical financial challenges faced by the world’s 46 most vulnerable nations. Multiple global crises, the climate emergency, growing debt burdens, dependence on commodities and declining foreign investments into LDCs have strained their finances, jeopardizing their …
The UT Ladakh Industrial Land Allotment Policy 2023 provides a framework, which will attract and realize National and International investments from various investors. The mission therefore is:Industrial growth through enhancing competitiveness by focusing on rapid industrialization besides creating an enabling economic development and create employment opportunities; ensure sustainable development and …
