The economy will contract in 2020. The measures taken to contain the Cornavirus (COVID-19) pandemic are hampering domestic activity this year. Meanwhile exports have been limited by the global slowdown caused by the pandemic. Fiscal stimulus should help support a recovery in the second half of the year. Real GDP growth is expected to bounce back to 2.4% in 2021, before reaching around 3.3% per year in 2024-2027.
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