Week in Review Archive

Chile elected conservative José Antonio Kast as president on Dec. 15, as voter priorities shift from inequity and improved pensions to addressing crime, immigration and strengthening a sluggish economy.

In south-central Asia stands the mountainous country of Afghanistan, known for its rugged terrain, rich cultural heritage and historic trade routes. The largely traditional and agriculture-based economy is dependent on farming, livestock and small trade. Although the region has significant natural resources, economic activity remains informal and rural, with limited industrial development.

As Saudi Arabia approves its state budget for 2026, the country anticipates a narrowing fiscal deficit as they prioritize industrial and logistics sectors in an effort to increase non-oil-based revenue. The country is projecting a deficit of 165 billion riyals ($44 billion), about 3.3% of gross domestic product (GDP).

Following a year of stagnation, Italy’s economy still struggles, narrowly avoiding recession in the third quarter. The eurozone’s third-largest economy saw its gross domestic product (GDP) remain unchanged compared with the previous quarter, while expanding by 0.4% year over year, according to Trading Economics. In the three months leading up to September, Italy posted a 0.1% contraction from the second quarter, contradicting expectations of a 0.1% rebound.

India’s domestic economy shows strength with a smaller hit to exports than expected amid international trade tensions. With a positive economic outlook, India will have more room to negotiate a trade deal with the United States after the latter imposed tariffs as high as 50% on exports from India.  

Over the past three years, Costa Rica’s economy has continued to grow, outperforming previous expectations. In the last decade, the country’s economic growth averaged 3.4% and reached 5.1% in 2023 and 4.3% in 2024, according to the World Bank Group. 

Argentina’s President Javier Milei won in a key midterm election, signaling a larger confidence in his last two years in office. The election, held in the last week of October, strengthens Milei’s ability to carry out his free-market experiment, according to the Associated Press, all with billions of dollars in backing from the United States.

Following their independence from Malaysia in 1965, the island country and city-state of Singapore, or the Republic of Singapore, has evolved into a thriving and dynamic economy. The region’s economic growth is attributed to its reliance on industrial exports of high-quality and competitively priced consumer and IT products. These products have attracted attention from foreign direct investment (FDI) in pharmaceuticals and medical technology products.