CATEGORY: Economic Snapshots
Following GDP growth of 1.5% in 2019, a shift to a more expansionary fiscal stance in response to the Covid-19 pandemic and associated global economic headwinds during the first half of 2020 has helped Abu Dhabi to establish a springboard for continued inclusive growth in the years ahead. While public spending and strategic investment remain important drivers of the emirate’s economic expansion plans, a major overhaul of the investment framework at both the emirate and the national level has been designed to harness the power of private capital and expertise in Abu Dhabi’s ongoing knowledge-led development efforts.
Indonesia is the world’s 16th-largest economy and presents an enticing opportunity for investors, thanks to positive demographic factors and ongoing reform efforts that seek to boost confidence and investment following the re-election of President Joko Widodo. Meanwhile, the country’s four unicorn and one decacorn tech start-ups are indicative of Indonesia’s rising consumer power and regional influence, with local companies expanding into neighbouring countries. While the country is expected to face headwinds in the short term due to the fallout from the Covid-19 pandemic, its strong foundations will help it to maintain momentum in the medium to long term.
In the face of economic challenges after the political upheaval of the 2000-11 period, Côte d’Ivoire has implemented major reforms, allowing it to become one of the most dynamic economies in Africa. Significant public investment, combined with strong prices for many agricultural cash crops, helped achieve average annual GDP growth of 8.5% between 2012 and 2018, and preliminary growth figures stood at 7.5% in 2019. Moves made to diversify the economy away from a reliance on raw exports are already paying dividends, and there has been a renewed focus on developing the business environment to further encourage private-sector-led growth.