The National Bureau of Statistics (NBS) on the 24th of August 2020, published the much anticipated Gross Domestic Product (GDP) figures for Q2:2020, which revealed that the economy contracted by 6.10% YoY and 5.04% QoQ in Q2:2020 (vs. 2.12% in Q2:2019 and 1.87% in Q1:2020). This was the steepest YoY quarterly GDP contraction in over 10 years since quarterly GDP data became available and portrayed the magnitude of the economic impact of the COVID-19 pandemic on the domestic economy.
Click on the link below to access the full report:
Macroeconomic Update – GDP Q22020
