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Economy - overview
increasePhilippines... expenditures. Declining fiscal deficits, tapering debt and debt service ratios, as well as recent efforts to increase spending on infrastructure and social services have heightened optimism over Philippine economic prospects. Although the ...
increaseRussia... declined, but commercial debt to foreigners has risen strongly. Oil export earnings have allowed Russia to increase its foreign reserves from $12 billion in 1999 to some $470 billion at yearend 2007 ...
increaseSaint Vincent and the Grenadines... to remain robust, hinging upon seasonal variations in the agricultural and tourism sectors and a recent increase in construction activity. This lower-middle-income country is vulnerable to natural disasters - tropical storms ...
increaseSaudi Arabia... natural gas exploration, and petrochemicals - to lessen the kingdom's dependence on oil exports and to increase employment opportunities for the swelling Saudi population, nearly 40% of which are youths under 15 ...
increaseSierra Leone... Poverty Reduction and Growth Facility program that helped stabilize economic growth and reduce inflation. A recent increase in political stability has led to a revival of economic activity such as the rehabilitation ...
increaseSouth Africa... pragmatic, focusing on controlling inflation, maintaining a budget surplus, and using state-owned enterprises to deliver basic services to low-income areas as a means to increase job growth and household income
increaseSwaziland... improve the atmosphere for foreign investment. With an estimated 40% unemployment rate, Swaziland's need to increase the number and size of small and medium enterprises and attract foreign direct investment is ...
increaseTajikistan... shortages, and the external debt burden. Continued privatization of medium and large state-owned enterprises could increase productivity. A debt restructuring agreement was reached with Russia in December 2002 including a $250 ...
increaseTanzania... alleviate poverty. Long-term growth through 2005 featured a pickup in industrial production and a substantial increase in output of minerals led by gold. Recent banking reforms have helped increase private-sector ...
increaseTunisia... as the growing population of university graduates. Broader privatization, further liberalization of the investment code to increase foreign investment, improvements in government efficiency, and reduction of the trade deficit are among the ...
increaseUzbekistan... aware of the need to improve the investment climate, the government still sponsors measures that often increase, not decrease, its control over business decisions. A sharp increase in the inequality of income ...
increaseWorld... governments face the difficult political problem of channeling resources away from welfare programs in order to increase investment and strengthen incentives to seek employment. The addition of 80 million people each year ...
increasedAlgeria... and London Club debt in 2006. Real GDP has risen due to higher oil output and increased government spending. The government's continued efforts to diversify the economy by attracting foreign and ...
IncreasedAngola... prices and rising petroleum production. Oil production and its supporting activities contribute about 85% of GDP. Increased oil production supported growth averaging more than 15% per year from 2004 to 2007. A ...
IncreasedAnguilla... and the economy depends heavily on luxury tourism, offshore banking, lobster fishing, and remittances from emigrants. Increased activity in the tourism industry has spurred the growth of the construction sector, contributing to ...
increasedAustria... because of the strong euro, high oil prices, and problems in international financial markets. To meet increased competition - especially from new EU members and Central European countries - Austria will need to continue ...
increasedBelarus... shared with Russia - 80% will go to Russia in 2008, and 85% in 2009. Russia also increased Belarusian natural gas prices from $47 per thousand cubic meters (tcm) to $100 per tcm ...
increasedBosnia and Herzegovina... 1998 - is pegged to the euro, and confidence in the currency and the banking sector has increased. Implementing privatization, however, has been slow, particularly in the Federation, although more successful in the ...
increasedBrunei... through the university level and subsidizes rice and housing. Brunei's leaders are concerned that steadily increased integration in the world economy will undermine internal social cohesion. Plans for the future include ...
increasedBurundi... stability and the end of the civil war have improved aid flows and economic activity has increased, but underlying weaknesses - a high poverty rate, poor education rates, a weak legal system, and ...
increasedCameroon... IMF-sponsored, three-year structural adjustment program; however, the IMF is pressing for more reforms, including increased budget transparency, privatization, and poverty reduction programs. In January 2001, the Paris Club agreed to ...
increasedChina... phasing out of collectivized agriculture, and expanded to include the gradual liberalization of prices, fiscal decentralization, increased autonomy for state enterprises, the foundation of a diversified banking system, the development of stock ...
increasedColombia... to offset declining oil production. The government's economic reforms and democratic security strategy, coupled with increased investment, have engendered a growing sense of confidence in the economy. However, the business sector ...
increasedCongo, Democratic Republic of the... decades of decline. Conflict, which began in August 1998, dramatically reduced national output and government revenue, increased external debt, and resulted in the deaths of more than 3.5 million people from violence ...
increasedCosta Rica... social safety net that had been put into place by the government has eroded due to increased financial constraints on government expenditures. Immigration from Nicaragua has increasingly become a concern for the ...
increasedCyprus... around 10.6% in 2006, fueled by growth in the construction and education sectors, as well as increased employment of Turkish Cypriots in the area under government control. GDP declined about 2.0% in ...
increasedDominica... agriculture, primarily bananas, and remains highly vulnerable to climatic conditions and international economic developments. Tourism has increased as the government seeks to promote Dominica as an "ecotourism" destination. In 2003, the government ...
increasedEcuador... and positive growth returned in the years that followed, helped by high oil prices, remittances, and increased non-traditional exports. From 2002-06 the economy grew 5.5%, the highest five-year average in ...
increasedEgypt... of GDP in 2007 - and represent a significant drain on the economy. Foreign direct investment has increased significantly in the past two years, but the NAZIF government will need to continue its ...
increasedGeorgia... 10% in 2006 and 2007 despite restrictions on commerce with Russia. Areas of recent improvement include increased foreign direct investment as well as growth in the construction, banking services, and mining sectors ...
increasedGreece... partly to infrastructural spending related to the 2004 Athens Olympic Games, and in part to an increased availability of credit, which has sustained record levels of consumer spending. Greece violated the EU ...
increasedGuatemala... the labor force. Coffee, sugar, and bananas are the main products, with sugar exports benefiting from increased global demand for ethanol. The 1996 signing of peace accords, which ended 36 years of ...
increasedGuinea-Bissau... poorest countries in the world, Guinea-Bissau depends mainly on farming and fishing. Cashew crops have increased remarkably in recent years, and the country now ranks sixth in cashew production. Guinea-Bissau ...
increasedIndonesia... and insurance, remains weak. Capital markets are underdeveloped. The high global price of oil in 2007 increased the cost of domestic fuel and electricity subsidies, and are contributing to concerns about higher ...
increasedIran... recent years have enabled Iran to amass nearly $70 billion in foreign exchange reserves. Yet this increased revenue has not eased economic hardships, which include double-digit unemployment and inflation - inflation climbed ...
increasedIreland... skills, and promote foreign investment. A slowdown in the property market, more intense global competition, and increased costs, however, have compelled government economists to lower Ireland's growth forecast slightly for 2008 ...
increasedJamaica... Dean in August 2007. The economy faces serious long-term problems: high but declining interest rates, increased foreign competition, exchange rate instability, a sizable merchandise trade deficit, large-scale unemployment and underemployment ...
increasedJordan... policy, making substantial headway with privatization, and opening the trade regime. Jordan's exports have significantly increased under the free trade accord with the US and Jordanian Qualifying Industrial Zones (QIZ), which ...
increasedMacedonia... 2001, during a civil conflict, the economy shrank 4.5% because of decreased trade, intermittent border closures, increased deficit spending on security needs, and investor uncertainty. Growth barely recovered in 2002 to 0.9 ...
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