World Bank Director Says GDP In Many Emerging Economies Will Reach Pre-Pandemic Levels In 2022.
The Gross Domestic Product (GDP) of many emerging economies will return to pre-pandemic levels next year, while the level of per capita income will take longer to recover, World Bank President David R. Malpass said on Monday.
The Gross Domestic Product (GDP) of many emerging economies will return to pre-pandemic levels next year, while the level of per capita income will take longer to recover, World Bank President David R. Malpass said on Monday.
“GDP will return to pre-pandemic levels next year in many emerging and developing economies, but per capita income will take longer to reach 2019 levels.
In many countries, recovery is even slower and fraught with complex challenges,” said the president of financial institutions. he said during a World Bank event dedicated to the growth of developing economies after the pandemic.
There was a rebound in 2021 for many emerging economies and developing countries in Europe and Central Asia, whose regional economy is expected to grow 5.5% in 2021, beating projections according to the latest edition of the World Bank economic update.
Developing markets were affected by the economic impact of the pandemic, and some of them experienced a significant drop in their growth rates.
However, emerging economies such as China and the United Arab Emirates (UAE), which managed to contain the massive spread of the virus in the early stages of the pandemic, are recovering faster and faster according to the International Monetary Fund (IMF).
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