Growth is picking up in South Africa, and this is good news after two years of declining incomes per capita. Observers are revising their forecasts, and optimists foresee economic growth to exceed 2% in next years. In recent months, several events have indeed improved South Africa’s economic outlook: the smooth transition in power, the authorities’ reaffirmed adherence to principles of good governance and debt stability, and the upward revision in national accounts, revealing higher economic activity in 2017 than previously measured.
Press release: Oil prices to average $55 per barrel in 2017, rise next year
WASHINGTON, April 26, 2017— The World Bank is forecasting higher prices for industrial commodities, principally energy and metals, in 2017 and next year.
The World Bank in its April Commodity Markets Outlook is holding steady its crude oil price forecast for this year at $55 per barrel, increasing to an average of $60 per barrel in 2018. Rising oil prices, supported by production cutbacks by Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC states, will allow markets to gradually rebalance. These oil price forecasts are subject to downside risks should the rebound in the U.S. shale oil industry be greater than expected.
The report below was posted on the World Bank Water Blog by SUSANNE M. SCHEIERLING ON WED, 03/30/2016.
In many parts of the world, changing demand and supply patterns are contributing to an increasing physical scarcity and competition for water resources. Historically, new demands have been met by developing additional supplies—with the incremental cost of water remaining relatively constant over time due to the ready availability of water development project sites to meet growing demands. As the water economy moves from an expansionary to a mature phase, incremental costs are sharply rising, and interdependencies among users and uses are greatly increasing. With this move, the issues to be addressed by water economists tend to become more pressing, broader and more complex. While in the expansionary phase structural or engineering approaches to water management tend to be the main focus, in a maturing water economy nonstructural or institutional options for solving water problems receive increasing attention. In particular, resource allocation and valuation issues move to the forefront of economic inquiry.
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