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The Frost Radar™ for Economic Development determines a region's future growth and development potential measured by its ability to enhance its quality of life for its citizens. This report explores key strengths and weaknesses of the global economy through country-level assessments of growth and innovation initiatives and benchmarks each country on these 2 indices.

The global economy, which was gradually recovering from the pandemic in 2021, has gone into an uncertain period of moderate growth in 2022 caused by the Russo-Ukrainian War that has led to unprecedented global inflation. Elevated price levels, heightened disruption in global supply chains, and tightening credit conditions are weighing on consumer and business sentiment across geographies. This Frost Radar™ diagnoses the significant challenges to the global growth environment, including inflation, thinning margins for fiscal and monetary policy maneuvers, and rising debt levels. Moreover, by measuring performance against the major Innovation sub-pillars of Education, Healthcare, Environment, Infrastructure, Citizen Centricity, and Security, the Frost Radar™ offers broad-based insights into the global economic pulse and identifies key drivers supporting global growth momentum, such as fiscal consolidation, macro-prudential policies, and thrust to green investments.