The domestic economy proved to be one of the most resilient economies, weathering several external and domestic induced shocks. Whilst on the road to recovery, the domestic economy further dealt with climate change induced economic disturbances, which resulted in a significant loss in agricultural output due to heavy flooding in certain areas of the Country. The events combined, amounted to an estimated output loss equivalent to E 6.2 billion in 2021/2022. Nonetheless, economic activity strongly rebounded in 2021, recording a robust growth of 7.9% from a contraction of 1.6 % in 2020 as a result of re-opening the economy. If one combines these two years, that are referred to as the Covid years, our economic growth out-performed all other countries in Sub-Saharan Africa.
- Advertisement -
