Economy, Finance and Trade

The economy will contract slightly this year. The declining economic performance reflects the economic and social upheaval caused by COVID-19, as well as sluggish growth in exports, particularly in the electronics industry, which has been adversely ...

Singapore’s trade-dependent economy will experience a deep recession in 2020. Domestic activity will be hampered by lockdown measures, meanwhile the external sector will be limited by the global slowdown caused by the pandemic. Investment will also ...

Iran will remain in recession in 2020. The economy will remain stifled by sanctions imposed by the USA and the fallout relating to the COVID-19 pandemic. The sanctions imposed in November 2018, targeted Iran’s oil sector, as well as its shipping and ...

The economy will contract significantly in 2020. The COVID-19 pandemic came when the economy was already in recession due to drought and a slowdown in tourism in the second half of 2019. The impact of the pandemic on the economy is projected to be ...

Kosovo is one of the poorest countries in Europe. Foreign assistance represents as much as one-third of GDP. The economy is expected to shrink this year as the COVID-19 pandemic weighs heavily on domestic demand, tourist arrivals, exports and ...

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 ...

Nigeria’s economy will contract in 2020. Nigeria has been severely hit by the spread of COVID-19 and the associated sharp decline in oil prices. Government policy is responding to both these developments. Inflation—driven by higher food prices—has ...

Iceland’s economy will slow in 2019. The impact of a deterioration of tourism revenue has hampered the economy. The government has eased fiscal policy, providing a stimulus in 2019 and lowering targeted near- and medium-term general government ...

The UK economy will contract sharply in 2020. Domestic activity will be limited by the impact of the COVID-19 crisis, especially the lockdown. The external sector will also be limited by the global tail-off in demand caused by the crisis. On top of ...

The economy will experience a deep recession in 2020. The outbreak of the COVID-19 pandemic has worsened the outlook for Ukraine and has refocused government policies on containment and stabilization. Uncertainty is large, and the economy is ...

The Japanese economy will contract sharply in 2020. Japan is struggling to contain COVID-19 and the 2020 Olympic Games have been postponed, which will have a profound impact on expected tourist arrivals. 2019’s sales tax hike will also limit consumer...

Azerbaijan’s economy will contract in 2020. Domestic activity will be hampered by COVID-19 containment measures, meanwhile the external sector will be negatively-affected by the collapse in oil prices, and the global slowdown caused by the pandemic. ...

Burkina Faso is facing a security crisis and the COVID-19 pandemic shocks. The number of internally displaced persons has surged nine-fold since January 2019 and is likely to further increase. Access to food and basic services is increasingly ...

Economic growth will experience a sharp recession in 2020. The economy is highly dependent on the weakened German export market. Economic activity will be hampered by COVID-19 crisis measures, including lockdowns and social distancing measures and ...

Latin America’s economy will fall fall sharply in 2020 due to the containment measures of dealing with COVID-19. The region’s consumer expenditure will also fall in 2020. Caribbean economies will lag behind other countries due to their excessive ...

Guinea is one of the poorest countries in the world. The country is being severely affected by the COVID 19 pandemic. Worsening global conditions and a rapidly spreading local outbreak have deteriorated Guinea’s short-term growth prospects and ...

Kazakhstan’s real GDP will contract in 2020. The economy is set to contract this year as COVID-19 takes its toll. Private consumption will fall amid a higher unemployment rate, isolation measures and a weaker currency. Moreover, muted external demand...

Mongolia’s economic growth will be healthy in 2020, albeit at a slightly lower pace. The deceleration is due to slower export growth in the mining sector resulting from lower coal and copper prices. The economy is largely reliant on natural ...

Pakistan’s economy will grow moderately in 2020. Fiscal adjustments are expected to suppress domestic demand, and demand contraction will keep growth in manufacturing subdued. However, agriculture is expected to recover from weather-induced ...

Continuously low oil prices, together with the measures introduced to contain COVID-19, will represent a drag on the UAE’s economic growth. Oil prices are not expected to recover this year, and it is anticipated that the OPEC+ oil production cap will...