Progress in these areas would strengthen productivity by making it easier to shift production factors to areas of higher yield. And by the same token, it would improve countries’ ability to adjust to unforeseen economic events and structural shifts like digitalisation in the future.
Presently, we forecast that Real GDP growth for 2021 will range between 17.7% in the most pessimistic scenario, to 30.4%. in the most optimistic scenario. Our forecasts also indicate that, in the absence of future shocks, our current recovery trajectory is likely to bring economic activity back to pre-pandemic levels by the end of 2023.