Global Economies - Already On the Path of Economic Progress in New Year
The economic analysts of most nations are hopeful that things will become better in this New Year. It is expected that the U.S. GDP will expand by 3.5% in 2021. In Europe, the output had declined last year but in 2021 the expected growth rate is around 3.6%. The low-income economies were hard hit by the pandemic but it is believed that in 2021, the economies activities will grow by 3.3%. Unfortunately, several economies had slightly contracted in 2020. However, in the first quarter of this year, most economies are already on the path of steady recovery.
China and India - expecting an impressive growth rate in 2021
In Asia, shares rose on Thursday. There were some chaotic scenes in the U.S. Capitol but despite this political turmoil Wall Street was hopeful. Most economies are entering into 2021 with a mixture of both, hope and caution. It is believed that by mid 2021, all economies will get full momentum..
Most investors develop a perception about the economic performance of Asia by taking a look at the report cards of India and China. However, Japan and South Korea are also important players. China is projected to grow 2.1% in this year according to a statement made by Asian Development Bank. In the next year, China, the largest economy of Asia, is expecting a growth rate of 7.7%. When a pandemic of this nature remains for a prolonged period, the economic activities are adversely affected. Most countries are now counting on vaccines so that all sectors of economies can be reopened. In case you are planning to go for some investment like the currency trading UAE, just proceed with good confidence. Despite minor fluctuations, most nations are showing signs of economic progress and the US dollar is still going strong.
Dubai economy - expecting a grow rate of 4% in 2021
Indian economy is recovering at an impressive pace. As the clouds of uncertainty are dispersing, commercial organizations are receiving a stable environment to invite more investments. The countries of East Asia are expected to expand at 1.6%. Countries like Taiwan that successfully fought Covid-19 are expecting a growth rate of 3.3%. In fact, the economy of Taiwan has boosted after attaining the status of coronavirus haven. Countries in the Central Asia and Pacific region are expected to grow impressively in 2021.
In 2020, the economy of the United Arab Emirates was affected by the coronavirus outbreak. Important sectors such as trade, real estate and tourism were hard hit. However, Dubai Statistic Centre is now hopeful as things are going well. Dubai is known for being the business and financial hub of UAE. Recently, the government launched a stimulus package to minimize the shocks that were created by global turmoil. The UAE Central Bank has also stepped in by extending additional liquidity. This is allowing banks to sanction more loans to borrowers whose business was affected by pandemic. Such steps are playing an instrumental role to boost the morale of investors, traders and businesspersons.