The Government of Costa Rica announced today the creation of a Public-Private Partnership (PPP) Project Preparation Facility (PPF) to leverage public and private sector resources to develop sustainable and efficient infrastructure projects.
The Czech Republic's economic growth slowed considerably following Russia’s war in Ukraine, reflecting disruptions in global value chains, significant increases in energy and other commodity prices, an erosion in real wages, and a necessary tightening in monetary policy. Growth is expected to pick up in 2024—led by consumption and fixed investment, as inflation fades and real income starts rising again, supported by net exports. Nevertheless, GDP is unlikely to reach the levels that would have been given by its pre-pandemic trend by 2028. Inflation, having peaked in 2022, is projected to meet its target by early 2025. Risks are tilted to the downside for activity and to the upside for inflation.
On November 17, the Executive Board of the International Monetary Fund (IMF) concluded the Article IV consultation with the Republic of San Marino.
Malta has marked an impressive recovery from the pandemic and demonstrated substantial resilience to shocks resulting from Russia’s invasion of Ukraine. With weaker external demand and waning post-pandemic pent-up demand, growth is normalizing but is still expected to be among the highest in Europe. Persistent inflationary pressures are expected, while concern has risen about capacity constraints.
Working Paper No. 2023/243
Working Paper No. 2023/242
The Bahamas’ economy continued to rebound vigorously in 2022. Real GDP growth reached 14.4 percent and unemployment fell to 8.8 percent with a broad-based expansion that was especially strong for tourism. However, labor force participation, particularly among men, remained below pre-pandemic levels. In 2023, international flight and cruise arrivals rose well above their pre-pandemic levels leading to a projected 4.3 percent expansion in the year, bringing the economy back to estimates of potential output.
