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Economy - overview
MediterraneanMonacoMonaco, bordering France on the Mediterranean coast, is a popular resort, attracting tourists to its casino and pleasant climate. The principality also is a major banking center and has successfully sought to ...
mediumAnguilla... put substantial effort into developing the offshore financial sector, which is small, but growing. In the medium term, prospects for the economy will depend largely on the tourism sector and, therefore, on ...
mediumAntigua and Barbuda... export with major products being bedding, handicrafts, and electronic components. Prospects for economic growth in the medium term will continue to depend on income growth in the industrialized world, especially in the ...
mediumArmenia... Armenia has managed to reduce poverty, slash inflation, stabilize its currency, and privatize most small- and medium-sized enterprises. Under the old Soviet central planning system, Armenia developed a modern industrial sector ...
mediumGaza Strip... and widespread business closures. The Israeli withdrawal from the Gaza Strip in September 2005 offered some medium-term opportunities for economic growth, but continued Israeli-imposed crossings closures, which became more restrictive ...
mediumKyrgyzstan... than 20% in 2007. The government and international financial institutions have been engaged in a comprehensive medium-term poverty reduction and economic growth strategy. In 2005, Bishkek agreed to pursue much-needed ...
mediumMicronesia, Federated States of... in order to provide annual payouts to the FSM in perpetuity after 2023. The country's medium-term economic outlook appears fragile due not only to the reduction in US assistance but ...
mediumMorocco... rising world prices. Continued dependence on foreign energy and Morocco's inability to develop small and medium size enterprises also contributed to the slowdown. Moroccan authorities understand that reducing poverty and providing ...
mediumSri Lanka... economic approach, which seeks to reduce poverty by steering investment to disadvantaged areas, developing small and medium enterprises, promoting agriculture, and expanding the already enormous civil service. The government has halted privatizations ...
mediumSuriname... these projects from Netherlands, Belgium, and the European Development Fund. Suriname's economic prospects for the medium term will depend on continued commitment to responsible monetary and fiscal policies and to the ...
mediumSwaziland... estimated 40% unemployment rate, Swaziland's need to increase the number and size of small and medium enterprises and attract foreign direct investment is acute. Overgrazing, soil depletion, drought, and sometimes floods ...
mediumTajikistan... corruption, weak governance, widespread unemployment, seasonal power 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 ...
meetAustria... 2008 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 ...
meetBritish Virgin Islands... business. Livestock raising is the most important agricultural activity; poor soils limit the islands' ability to meet domestic food requirements. Because of traditionally close links with the US Virgin Islands, the British ...
meetCentral African Republic... fighting between the government and its opponents remains a drag on economic revitalization. Distribution of income is extraordinarily unequal. Grants from France and the international community can only partially meet humanitarian needs
meetCroatia... uneven regional development. The state retains a large role in the economy, as privatization efforts often meet stiff public and political resistance. While macroeconomic stabilization has largely been achieved, structural reforms lag ...
meetCzech Republic... reforms could prove difficult, however, because of the parliament's even split. The government withdrew a 2010 target date for euro adoption and instead aims to meet the eurozone criteria around 2012
meetDjibouti... and refugees). Faced with a multitude of economic difficulties, the government has fallen in arrears on long-term external debt and has been struggling to meet the stipulations of foreign aid donors
meetDominica... company, and tax increases - to address Dominica's economic and financial crisis of 2001-02 and to meet IMF targets. This restructuring paved the way for the current economic recovery - real growth for ...
meetEritrea... continue to interfere with agricultural production, and Eritrea's recent harvests have not been able to meet the food needs of the country. The government continues to place its hope for additional ...
meetGermany... debt limit. Corporate restructuring and growing capital markets are setting the foundations that could help Germany meet the long-term challenges of European economic integration and globalization, although some economists continue to ...
meetItaly... are imported. Over the past decade, Italy has pursued a tight fiscal policy in order to meet the requirements of the Economic and Monetary Unions and has benefited from lower interest and ...
meetLibya... imports about 75% of its food. Libya's primary agricultural water source remains the Great Manmade River Project, but significant resources are being invested in desalinization research to meet growing water demands
meetMacau... s strong economic growth has put pressure its labor market prompting businesses to look abroad to meet their staffing needs. The resulting influx of non-resident workers, who totaled one-fifth of ...
meetNicaragua... macroeconomic stability in the past few years, annual GDP growth has been far too low to meet the country's needs, forcing the country to rely on international economic assistance to meet ...
meetNigeria... on economic reforms. Nigeria pulled out of its IMF program in April 2002, after failing to meet spending and exchange rate targets, making it ineligible for additional debt forgiveness from the Paris ...
meetSlovakia... of the new EU member states to adopt the euro in 2009 if it continues to meet euro adoption criteria in 2008. Despite its 2006 pre-election promises to loosen fiscal policy ...
meetUkraine... structural reform have made the Ukrainian economy vulnerable to external shocks. Ukraine depends on imports to meet about three-fourths of its annual oil and natural gas requirements. A dispute with Russia ...
meetVietnam... smaller than that of China, India, and the Philippines. Vietnam is working to create jobs to meet the challenge of a labor force that is growing by more than one-and-a ...
meetingCzech Republic... increases in social spending in the run-up to June 2006 elections prevented, the government from meeting its goal of reducing its budget deficit to 3% of GDP in 2007. Negotiations on ...
meetingDenmark... include streamlining the bureaucracy and further privatization of state assets. The government has been successful in meeting, and even exceeding, the economic convergence criteria for participating in the third phase (a common ...
meetingEuropean Union... January 2007) and Cyprus and Malta (1 January 2008) have adopted the euro; the remaining nine are legally required to adopt the currency upon meeting EU's fiscal and monetary convergence criteria
meetingTuvalu... contributed nearly $9 million towards the government budget in 2006 and is an important cushion for meeting shortfalls in the government's budget. The US Government is also a major revenue source ...
megaprojectPeru... on exports of minerals, textiles, and agricultural products, and by expectations for the Camisea natural gas megaproject and for other promising energy projects. Upon taking office, President GARCIA announced Sierra Exportadora, a ...
melonsNorthern Mariana Islands... agricultural sector is made up of cattle ranches and small farms producing coconuts, breadfruit, tomatoes, and melons. Garment production is by far the most important industry with the employment of 17,500 mostly ...
memberAndorra... activity is sheep raising. Manufacturing output consists mainly of cigarettes, cigars, and furniture. Andorra is a member of the EU Customs Union and is treated as an EU member for trade in ...
memberAngola... 13% in 2007, the stabilization policy has put pressure on international net liquidity. Angola became a member of OPEC in late 2006 and in late 2007 was assigned a production quota of ...
memberBosnia and Herzegovina... and predictable source of revenues for all layers of government. Bosnia and Herzegovina became a full member of the Central European Free Trade Agreement in September 2007. The country receives substantial reconstruction ...
memberCape Verde... heavily on the maintenance of aid flows, the encouragement of tourism, remittances, and the momentum of the government's development program. Cape Verde became a member of the WTO in July 2008
memberEuropean Union... and its political and economic power. Because of the great differences in per capita income among member states (from $7,000 to $69,000) and historic national animosities, the EU faces difficulties in devising ...
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