“Jamaica’s poverty prevalence for 2023 was estimated at 8.2 per cent, a decline from 16.7 per cent in 2021.
Planning Institute of Jamaica (PIOJ) Director General, Dr. Wayne Henry, disclosed that it was ‘the lowest figure ever recorded since poverty rates were first measured in 1989.'”
From Magnetic Media.
“The World Bank on Tuesday reduced its growth forecast slightly for Latin America and the Caribbean, while predicting Argentina’s GDP will increase 2.1 percent this year.
In its biannual Regional Economic Update, World Bank experts highlighted Argentina's economic recovery, noting that the economy expected to post growth for three successive years to 2027 – the first time it will have done so in nearly 20 years.
The improvement, the report said, is driven by 'fiscal consolidation, tax reforms and a more open economy.'
Argentina’s economy grew by 4.5 percent last year and will grow by an estimated three percent in 2027, said the report.”
From Buenos Aires Times.
“The Middle East conflict delivered one of the biggest disruptions to global oil supplies in decades. The disruption of oil shipments through the Strait of Hormuz earlier this year briefly drove Brent crude prices to nearly $120 a barrel—roughly two-thirds higher than the price on the eve of the conflict. Yet the global economy has so far escaped the steep downturn that used to accompany similar oil shocks.
Consensus forecasts now put global growth at about 2.6 percent in 2026, close to what was expected in January and above the more pessimistic projections made in the spring.”
From World Bank.
“Denmark’s central bank more than doubled its growth forecast for this year as surging US sales and production at Novo Nordisk A/S fuel strong exports in the Nordic country’s pharmaceutical industry.
Gross domestic product is now expected to grow 4% in 2026, up from a 1.8% forecast in March, Danmarks Nationalbank said Wednesday. The upgrade largely reflects stronger-than-expected growth in the first half, led by the drug industry, as well as better performance elsewhere in the economy, which has remained resilient despite geopolitical and trade turmoil, the central bank said.”
From Bloomberg.
“This report highlights Uzbekistan’s remarkable progress in reducing poverty and expanding the middle class between 2021 and 2025. Strong growth in household consumption, rising wage employment, and pro-poor income gains reduced the national poverty rate from 17.0 percent to 5.8 percent, lifting approximately 3.7 million people out of poverty. The middle-class share more than doubled, reaching over 72 percent of the population.”
From World Bank.
