The restaurant was founded in 1987 in Rosettenville, Johannesburg by Mozambique-born Fernando Duarte and South African-born Robert Brozin. The continuation of the COVID-19 pandemic amid low vaccination rates and high vaccine reluctance in some countries poses downside risks to the forecasts, the global body said.Flame-grilled peri peri chicken at Nando's
"The medium- to longer-term outlook in Central Asia could be dampened by stability concerns in neighbouring countries, including Afghanistan, amid heightened security risks and uncertainty regarding the influx of migrant refugees," the World Bank said.Īmong other CIS states, Georgia was on track to post the strongest growth of 8.0% this year, followed by Moldova with 6.8% and Armenia with 6.1%. The region's largest economy, Kazakhstan, is on track to grow 3.5% this year and 3.7% next year. Russia's projected economic growth this year is below the 4.3% expansion that the World Bank expects in Central Asia in 20, thanks to investment activity and despite rate hikes prompted by higher inflation. Russia has had to raise rates five times so far this year, struggling to rein in stubbornly high consumer inflation and is on track to raise the key rate by at least 25 basis points from 6.75% on Oct. sanctions imposed in 2021, low vaccination rates, and increases in the policy rate from record lows are weighing on the growth outlook." "The escalation of geopolitical tensions, including additional U.S.
In 2022, economic growth will slow as demand stabilises and industrial commodity prices can go down, it said.
This year, the economy "is supported by an earlier rebound in domestic demand and elevated energy prices," the World Bank said in a report on Europe and Central Asia. The World Bank said it now expects Russia's gross domestic product to grow by 4.3% in 2021 and 2.8% in 2022 versus 3.2% and 3.2%, respectively, that it forecast in June.
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