Egypt prepared to handle negative impact of GERD's second filling: Foreign minister tells MPs    Turkey to send delegation to Egypt in May, foreign ministers to meet later    10 emerging writers receive $50,000 Whiting Awards    J.K. Rowling children's story 'The Christmas Pig' out in October    2 crew members of impounded Ever Given allowed to return home for personal emergencies: Suez Canal Authority    15 injured as Minya Al-Qamh train derails    Egypt condemns continued attacks by Yemen's Houthi militias towards Saudi territory    Skyway Development launches EGP 700bn Bayadega project at Egypt's New Capital    EFG Hermes determines fair value of Arab Investment Bank at EGP1.1bln    Iran nuclear talks to resume amid strains over enrichment move, Natanz attack    SODIC hires Hermes to study acquisition offer by Aldar Properties    Egyptian President approves €1.88bn loan for monorail lines    Veteran Egyptian journalist Makram Mohamed Ahmed passes away at 86    Fans allowed at opening match of UEFA EURO 2020: Italy    Egypt halts traditional amateur football tournaments during Ramadan    US warns of punitive actions for Lebanese blocking reforms    Pressure on stuttering Atletico as rivals Real close gap in title race    Al Ahly get ready for fierce league clash against Zamalek    Egypt Press Syndicate condemns Health Ministry's alleged media obstruction    Tokyo Games: Officials say cancelation, no fans still option    Pope Tawadros II greets Sisi on Ramadan    Police launch investigation after Real Madrid's bus damaged at Anfield    EU, EIB, MSMEDA inspect Community Development Programme projects in Port Said    Egypt tourism minister discusses preparations for upcoming Arabian Travel Market with UAE    Egypt PM follows up on progress of Decent Life rural development initiative    Egypt, Turkey eye new phase of bilateral relations    Claims that Ancient Egyptians were African untrue: Zahi Hawass    New evidence suggests gender-based labour division as farming spread in Europe    Europe scrambles as J&J vaccine delay deals another blow    Egyptian Armed Forces continue sterilisation at major mosques during Ramadan    International Cooperation Minister witnesses UNDP Egypt accelerator lab launch    Iftar Cannon: History behind special Ramadan tradition in Egypt    Egypt, Arab League, UN discuss developments in Libya    Sudan invites Egypt, Ethiopia to closed meeting on GERD    Egyptian farmers fearful as Ethiopia goes for 2nd Blue Nile dam filling    Opinion| The issue of the Grand Ethiopian Renaissance Dam    Egyptian prosecution releases two more journalists pending investigation    Nile tensions spill over    Party consensus    Russian FM says Egypt is main partner in Middle East, Africa    Egypt sees an uptick in new coronavirus infections registers 801 new cases on Saturday    PMI moves towards a smoke-free transformation, takes part in a webinar on e-cigarettes    Egypt's President warns of grave consequences of water crises in Africa    Allianz Egypt partners with IGNITE to equip brand ambassadors for 2021 Olympics    Hassan Allam consortium wins contract to manage, operate Grand Egyptian Museum    Enhanced Labs signs Mr. Olympia 2020 "Big Ramy" And His Trainer Dennis James    King Tutankhamun funerary mask is must-see tourist icon: The Telegraph    Seasoned Egyptian screenwriter Wahid Hamed dies at 76    

Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.

Moody's sees Emerging markets' real GDP to grow by 13.9% in 2021, 5% in 2022
Published in Amwal Al Ghad on 27 - 02 - 2021

Emerging market's real GDP to grow by 13.9 percent in 2021 and by 5 percent in 2022, following a 7.2 percent contraction in 2020 , according to a recent report published by Moody's on the occasion of the anticipated G-20 meeting.
Moody's added that their economies economy will only be 5.6 percent larger in the fourth quarter of 2021 relative to the fourth quarter of 2020
Moody's also expected emerging markets economies to accelerate on a sequential basis only in 2022.
Globally, recovery from the COVID-19 crisis will remain uneven, with the pandemic affecting individual businesses, sectors and regions very differently, according to the report.
The report said that goods demand has almost fully recovered globally, while the recovery in services continues to struggle.
Transportation, hospitality, and leisure and arts are sectors the report expected to continue to suffer, yet the information technology, consumer goods, pharmaceuticals and financial sectors have thrived already.
It added that many individuals around the world have lost their jobs and continue to face employment uncertainty, but on the other hand, the sharp decline in household consumption and the rise in asset prices have reinforced household financial balances at an aggregate level.
"Governments in advanced economies have been able to support households and businesses far more substantially than have emerging market and less-developed countries", said the report.
Concerning vaccines against the virus, the report expected the new developments, including from Johnson & Johnson (Aaa negative) and Novavax Incorporated, to be brought into use in the first half of 2021, while antiviral drugs and other COVID-19 treatments also might continue to improve, aiding in pandemic management.
Moreover, production of approved vaccines from BioNtech-Pfizer, Moderna and Oxford University-AstraZeneca is being scaled up, which will help mitigate current shortages in advanced economies over the coming months, according to the report.
In emerging market economies, the report said that the Oxford University-AstraZeneca vaccine is being rolled out widely in emerging market countries, while the low-income countries will depend on the multilateral COVAX facility for vaccine doses.
"Nevertheless, lack of cooperation between advanced and emerging countries means that less-developed countries that do not have enough assured supplies of effective vaccines or the capacity to produce them will struggle to overcome the pandemic. And even in countries that successfully curb the spread of the virus, vigilance will continue to be paramount", according to the report.
According to Moody's baseline economic forecast, the world will continue to battle COVID-19 and its variants over the course of 2021 and 2022, and the virus will be tamed only gradually with vaccinations and treatments, which means a gradual recovery of economic activity in most countries.
The Biden administration's efforts to increase the pace of vaccinations, if effective in reducing the severity of the health crisis, will accelerate the recovery in services, the report expected.
The report revised down the G-20 economic growth contraction in 2020 to 3.3 percent, down from 3.8 percent previously projected, driven by a better-than-expected recovery across a wide range of advanced and emerging market economies in the second half of 2020.
It also projected the G-20 countries to grow by 5.3 percent in 2021 and by 4.5 percent in 2022, up from Moody's prior forecasts of 4.9 percent and 3.8 percent, respectively.

Clic here to read the story from its source.