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Tajikistan : Strong Growth, Rising RisksTajikistan's economy grew at
 higher-than-projected rate of 7.4 percent in 2013 on the
 back of record high inflow of remittances. High remittances
 fueled private consumption and investment. Meanwhile, weaker
 external demand and lower prices for aluminum and cotton
 adversely affected exports and resulted in a widening of the
 current account deficit. Inflation was reduced to a record
 low because of the limited increase in food prices and
 stable exchange rate. The fiscal deficit widened because of
 higher investment expenditures and a reduction in nontax
 revenues. The overall fiscal picture is likely to be
 different than official statistics suggests because of soft
 budget constraints on state-owned enterprises, continued
 directed lending by banks, and other quasi-fiscal risks. The
 economy remains vulnerable to shocks, and the fiscal and
 debt position remains weak because of the country's
 remittance-driven growth model, narrow export base, high
 dependence on concessional financing, and large
 infrastructure. In addition, amortization of existing
 foreign debt is increasing sharply. Real wage growth in
 excess of productivity growth further deteriorated the
 country competitiveness. Weak governance and financial
 sector accountability and the poor business climate hold
 back development in the financial sector and in the
 government debt market. The government is aiming for at
 least 7.5 percent growth in the medium term as well as a
 reduction in the poverty headcount to 30 percent by 2015 and
 further to 20 percent by 2020. In order to meet these
 objectives, the government needs to accelerate reforms aimed
 at improving the institutional environment for
 private-sector-led growth and job creation. Future growth
 and poverty reduction will depend on its success in
 overcoming the binding constraints to diversified
 development and in reducing the costs and increasing the
 profitability of potential private investments.
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Malawi - Country Economic Memorandum : Seizing Opportunities for Growth through Regional Integration and Trade - Summary of Main Finding and RecommendationsMalawi needs to focus on exports to
 maintain and broaden its current inspiring levels of
 economic growth. The focus of future policy should therefore
 be on reforms that improve competitiveness in global and
 regional markets. This does not require a fundamental shift
 in direction, but instead a rebalancing of policy and
 expenditures to support an outward-oriented development
 framework. Until the recent global financial crisis,
 domestic and regional trends were promising for Malawi:
 rapid economic growth, strong donor support, increases in
 foreign direct investment, real potential to upgrade
 regional infrastructure, and the gradual dismantling of
 barriers within the region through the Common Market for
 Eastern and Southern Africa (COMESA) and Southern Africa
 Development Community (SADC) free trade areas. Despite
 recent global developments, this report makes the case that,
 for a small landlocked economy like Malawi, integration into
 a dynamic and more open Southern Africa region will remain a
 key to building prosperity and improving livelihoods.
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Uganda Economic Update, February 2015This Fifth Edition of the Uganda Economic Update presents
 evidence that if the urbanization process is well managed,
 it has the potential to stimulate economic growth and to
 provide productive jobs for a greater proportion of Uganda’s
 young and rapidly expanding population. In many countries
 across the world, the growth of cities has stimulated the
 establishment and expansion of productive businesses by
 reducing the distance between suppliers and customers.
 The growth of cities has also facilitated provision of social
 services and infrastructure through economies of scale.
 These positive effects from urbanization are already visible
 in Uganda since the poverty rate is seven percentage points
 lower in urban areas than in rural areas. Most of the recent
 job creation is found in cities, and social indicators are also
 better in urban areas, especially in education and health.