Overview
- 2020: positive growth of 1.5% despite COVID-19
- Without the pandemic, growth would have been 6.0%
- Strong increase in government spending to support the economy
- Agriculture hardly affected by quarantine measures, growth of 2.6% expected
- Slight decline of inflation
- Sum depreciated by 6% against the USD in January-May 2020 as exports and remittances declined
- High international reserves of USD 31.3 bn (May 2020) – 14 months of import coverage
- Current account deficit expected to rise to 9.6% of GDP in 2020
- FDI inflows will fall to 1.2% of GDP in 2020, after 3.9% in 2019
- Budget deficit will increase to 5.6% of GDP in 2020
Topics
- Agriculture. Dominance of dehkan farms and most recent reforms
- Energy. Too much focus on base load generation in the 2030 investment plan
- Support for SME. Recommendations for the strategy of the newly established SME support agency
- COVID-19. Development of cases, domestic measures, economic support, int. financial support