In Q2-2021, a strong recovery started and GDP grew by massive 13.1%. For the whole year, GDP will grow by ca. 5.5% in real terms. This unexpected strong recovery was fuelled by two factors: strong remittances, which supported consumption, and a significant increase in political stability after the clear results of the snap elections in June 2021. On parallel, the exchange rate appreciated and stands now at a similar level as before the start of COVID-19.
While these developments are highly welcomed, it also shows the strong link between the economic and political situation in a country.