Economy, Finance and Trade

Real GDP growth will accelerate in 2020 . Household consumption is expected to be the most vigorous component of growth. However, if wages and pensions continue to head upwards in the run-up to the presidential election in August 2020, this increase ...

Belgium’s economy will contract significantly in 2020. This is expected to be driven by a large drop in household consumption, which has been hindered by restrictive measures put in place to combat the pandemic and low confidence. A more pronounced ...

Brazil’s economy will grow solidly in 2020. The pension reform has been approved, and progress on structural reforms is lifting confidence and supporting investment, which is also buoyed by easier financial conditions. Low inflation and easier ...

Botswana’s economy will experience a sharp recession in 2020. Domestic activity will be hampered by measures taken to contain COVID-19, meanwhile exports will suffer from the effects of the global pandemic. Risks to the outlook include sluggish ...

Russia’s real GDP will decline steeply in 2020. Russia faces a double hit from sharply lower oil prices and lockdown-driven deceleration in domestic demand in the context of the COVID-19 outbreak. Against this backdrop a sharp slump in economic ...

Afghanistan’s economy will contract sharply in 2020. The COVID-19 pandemic and the efforts to contain it are inhibiting domestic activity, especially in cities under lockdown. Transport and trade have been disrupted by border closures, and workers’ ...

Greece’s economy will contract steeply in 2020. The economy is expected to be hit severely by the COVID-19 pandemic and the counter measures taken to limit its spread in 2020. The impact of the crisis is expected to be large due to the importance of ...

Brazil’s economy will contract in 2020. Domestic activity will be affected by measures taken to contain COVID-19; meanwhile external demand will be stifled by the global slowdown caused by the pandemic. Investment will also be limited. The economy ...

The economy will enter recession in 2020. Domestic activity will be held back by the temporary measures in place to contain the COVID-19 disease, including curfews and business closures. Meanwhile, external demand will be stifled by the global ...

Benin’s economy should continue to grow at a solid pace in 2019. However, the economic impact of the pandemic has already begun to materialize through higher Eurobond spreads and lower cotton prices, while a more widespread domestic outbreak could ...

Armenia’s economy will contract in 2020. The COVID-19 pandemic, together with the recent oil price shock and the tightening of global financial conditions, has significantly changed Armenia’s near-term economic outlook and prompted a deterioration of...

The economy will grow at a weaker pace in 2020 and faces a number of serious problems. The Cuban economy will continue to suffer from tighter US sanctions introduced by the Trump administration in 2019. The ban on cruises from the US is a blow for ...

Equatorial Guinea’s economy continues to shrink. The spread of COVID-19 will hinder domestic activity in 2020, whilst the global slowdown and a decline in the price of oil are major external drags. After growth of 2.3% in 2021, there will be several ...

Bolivia’s economy will contract in 2020. Domestic activity will be inhibited by measures taken to contain COVID-19, including the quarantine and closures of non-essential businesses. Meanwhile, external demand will be limited by the pandemic related ...

Bahrain’s economy will contract in 2020. The economy will be hampered by COVID-19 measures such as closure of non-essential businesses, social distancing measures and travel bans. Historically-low oil prices are another limiting factor. A new ...

Australisia’s economy will contract substantially in 2020, meanwhile in New Zealand real GDP will weaken considerably. Unemployment fell in both New Zealand and Australia in 2019 but it will grow in both in 2020. Much of the region's past growth was ...

The economy will contract in 2020. The measures taken to contain the COVID-19 pandemic will hamper domestic activity this year. Meanwhile exports will be limited by the global slowdown caused by the pandemic. Fiscal stimulus should help support a ...

The economy should contract slightly in 2020. Non-oil growth will be hampered by COVID-19 measures, whilst the resultant collapse in the oil price and extension to the OPEC production cuts weigh on the oil sector. As growth recovers, and capital ...

Taiwan’s economy will contract in 2020. Domestic activity will be affected by measures taken to contain COVID-19, but the recession will not be as sharp as in other countries, which were slower to react to the pandemic. Export performance will be ...

Tunisia’s economy should pick up momentum in 2020. This performance reflects a rebound in industrial production, higher investment and stronger private consumption. However, downside risks are a weak fiscal position, continued weakness in key trading...