The economy will experience a sharp recession in 2020. 2020 as the economy struggles to cope with the Coronavirus (COVID-19) pandemic. The travel and tourism industry has collapsed due to the travel bans and domestic demand has been interrupted due to the curfew and economic slowdown. Provided the outbreak remains contained, growth should bounce back strongly in 2021 and is expected to moderate to about 2.6% per year by 2027.
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