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Ethiopian president projects 10.1 pct economic growth for current fiscal year-Xinhua

ADDIS ABABA, Oct. 6 (Xinhua) -- Ethiopia's economy is projected to grow by 10.1 percent during the country's current 2026/2027 fiscal year, which started on July 8, Ethiopian President Taye Atske Selassie said. Atske Selassie made the remarks while outlining the East African country's key economic, social, and political targets at the joint opening session of the House of Peoples' Representatives and the House of Federation -- the lower and upper chambers of parliament, respectively -- on Tuesday in Addis Ababa, the country's capital. He identified sustaining broad-based economic development, delivering quality public services, ensuring peace and security, improving institutional coordination and strengthening foreign relations as key priorities for the current budget year. Building ...

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World Bank sees Bangladesh FY27 GDP growth at 3.4 pct-Xinhua

DHAKA, Oct. 6 (Xinhua) -- Bangladesh's GDP growth is projected at 3.4 percent in FY27 (July 2026-June 2027) before accelerating to 3.9 percent in FY28 (July 2027-June 2028), the World Bank said in its Bangladesh Development Update released on Tuesday. According to the latest update, released at a press conference in Dhaka, economic growth slowed sharply to 3.4 percent in FY26 (July 2025-June 2026) and is projected to remain static at 3.4 percent in FY27. The report highlights that investment activity softened, exports lost momentum, and inflation remained elevated, reducing household purchasing power and raising business costs. Looking further ahead, GDP growth is projected to recover moderately to 3.9 percent in FY28, provided energy supply constraints gradually ease and government-...

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Nepal’s growth outlook weakened by flood damage: World Bank-Xinhua

KATHMANDU, Oct. 6 (Xinhua) -- The World Bank has projected Nepal's economic growth to slow to 3.7 percent in the current fiscal year 2026-27, which began in mid-July, from its earlier projection of 4.2 percent, reflecting disruptions to industry and services. Releasing its flagship publication on Nepal, Nepal Development Update: Building Back Differently for the Future, on Tuesday, the global development institution said the Aug. 26 floods in Nepal are expected to have a material negative impact on the country's economic prospects in the short term. A total of 1,455 people have been confirmed dead and 5,285 remain missing to date following the disaster, which devastated communities and infrastructure along the Bhotekoshi and Trishuli river corridors, according to the National Disaster ...

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World Bank forecasts Vietnam’s GDP growth at 7.4 pct in 2026-Xinhua

HANOI, Oct. 6 (Xinhua) -- The World Bank forecast that Vietnam's gross domestic product (GDP) would grow by 7.4 percent this year, driven by strong growth in manufacturing and exports of high-tech and AI-related goods, according to a report released by the bank on Tuesday. The forecast was made in the World Bank's East Asia and Pacific Economic Update, with Vietnam's projected growth rate being the highest in the region, local daily VnExpress reported. Vietnam's inflation is projected to average 4.2 percent in 2026, driven by rising costs of fuel, housing and utilities, according to the report. Vietnam's GDP expanded by 9.95 percent in the third quarter of this year, according to the National Statistics Office, while the government is targeting double-digit growth for the full year. ...

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World Bank lifts Malaysia’s 2026 growth forecast to 5.1 pct on AI-related activities-Xinhua

KUALA LUMPUR, Oct. 6 (Xinhua) -- Malaysia's economy is projected to grow 5.1 percent in 2026, an upward revision of 0.7 percentage points following stronger-than-expected activity in the first half, fueled by strong growth in global artificial intelligence (AI)-related activities, the World Bank said on Tuesday. Across the region, several economies, including Malaysia, have grown more quickly than anticipated in 2026, propelled by the manufacture and export of high-tech goods that have underpinned a global surge in AI-related activity, the World Bank said in its East Asia and Pacific Economic Update. Domestic demand is expected to remain the main growth driver. Malaysia's economy remained resilient in the first half of 2026, with real gross domestic product (GDP) growth accelerating ...

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World Bank cuts Cambodia’s 2026 growth forecast to 3.5 pct amid tourism slump, high fuel costs-Xinhua

PHNOM PENH, Oct. 6 (Xinhua) -- The World Bank on Tuesday downgraded Cambodia's 2026 economic growth forecast to 3.5 percent, down from 5.3 percent last year, citing a sharp slump in international tourist arrivals and surging fuel costs. "In Cambodia, domestic demand weakened in 2026 as international arrivals and remittances fell, while higher oil prices squeezed household incomes," the bank said in its latest East Asia and Pacific Economic Update. The report noted that while a real estate correction and tighter credit conditions weighed heavily on investment, overall growth was partially cushioned by rising goods exports. The severe impact of energy costs is clearly reflected at local pumps. According to the Ministry of Commerce, the retail price of regular gasoline has risen to 5,15...

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Greece projects 2.3 pct growth in 2027 budget draft -Xinhua

ATHENS, Oct. 5 (Xinhua) -- Greece's government on Monday submitted its draft 2027 budget to parliament, projecting gross domestic product (GDP) growth of 2.3 percent, continued declines in unemployment and public debt, and a primary budget surplus of 3.3 percent of GDP. The draft budget, submitted to parliament's Standing Committee on Economic Affairs, forecasts growth well above the eurozone average of 1.2 percent projected for 2027. Investment and private consumption are expected to be the main drivers of growth in 2027, rising by 7.9 percent and 1.5 percent, respectively, according to the National Economy and Finance Ministry. The draft budget projects public debt to fall from 146.1 percent of GDP in 2025 to 136.8 percent in 2026 and 128.8 percent in 2027, while the unemployment r...

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