Peru's solid macroeconomic framework has driven substantial economic growth and poverty reduction in the past two decades. While the economy swiftly rebounded from the pandemic due to strong policy support, it exposed structural weaknesses such as a large informal sector and stark regional disparities in accessing public services.
© natalie_dc/shutterstock.comPeru Economic Snapshot
Croatia has navigated well the COVID-19 crisis and the price shocks following Russia’s war of aggression on Ukraine. It has achieved robust output growth, rising employment and improving well-being, although inflation has surged. Integration into the euro- and Schengen areas at the start of 2023 are testament to progress, and are providing a further fillip to the economy.
© Joachim Bago/Shutterstock.comCroatia Economic Snapshot
The European recovery has been disrupted since the onset of Russia’s war of aggression against Ukraine. Co-ordinated and timely policy action helped avoid a severe downturn, but the near-term outlook is clouded by uncertainty and downside risks.
© symbiot/Shutterstock.comEuropean Union and euro area Economic Snapshot
Iceland’s economy is one of the fastest-growing in the OECD, driven by foreign tourism and strong domestic demand. The labour market is tight and wage growth robust, while high wage compression helps maintain a highly egalitarian economy. Inflation is persistent and broadening, and inflation expectations have de-anchored.
© Vincent KoenIceland Economic Snapshot