Finance & Economics | WPN World People News

Gross domestic product (GDP) in the OECD rose by 0.4% quarter-on-quarter in the third quarter of 2022, according to provisional estimates. Quarterly OECD growth rates have remained weak for the past three quarters.

Despite signs of economic recovery in early 2022, the Lao People’s Democratic Republic faces increased challenges from currency depreciation and high inflation, according to the World Bank’s latest economic update for the country.

The unemployment rate in the OECD was stable in September 2022, at 4.9%, slightly above its lowest point since the start of the series in 2001 (4.8%) recorded in July 2022. This rate was 0.4 percentage point below its pre-pandemic level. The number of unemployed workers in the OECD decreased slightly, to 33 million.

The World Bank has released its second Systematic Country Diagnostic (SCD) report for Tunisia, titled Rebuilding Trust and Meeting Aspirations for a More Prosperous and Inclusive Tunisia, following the first edition produced in 2015.

This year’s heatwave and devastating floods are a reminder that climate change-induced disasters can significantly set back Pakistan’s development ambitions and its ability to reduce poverty. These disasters have caused more than 1,700 deaths and displaced more than 8 million people.

The World Bank approved a $400 million International Development Association (*IDA) grant to support the Republic of Mozambique’s Safer Roads for Economic Integration Project. The objective of the project is to improve road connectivity, safety, and climate resilience, as well as fostering greater social inclusion in the project areas.

The World Bank approved a $250 million grant from the International Development Association (*IDA) to improve mobility and accessibility in the Maputo Metropolitan Area (MMA), on August 24th.

Reforms supported by investments in green and digital infrastructure and human capital can boost, and even double, the growth potential in some EU member states between now and 2030, according to a new World Bank report.

The World Bank's Board of Executive Directors has approved a $350 million loan on June 29, 2022, to enhance human capital development in Indonesia by safeguarding its people through income protection, increasing access to healthcare services, preventing unhealthy behavior, and improving the effectiveness of government spending.

The Government of Maldives and the World Bank signed two grant agreements totalling US$34 million (MVR524 million) to strengthen pension and safety nets for Maldivian workers and improve their employability, and to leverage digital technologies for development and climate resilience, July 4.