Following a significant economic recovery over the summer, obstacles to economic growth have re-emerged. The second wave of the corona pandemic has led to renewed uncertainty and necessitated new measures to control the spread of the virus both at home and abroad. This has a significant impact on the economic outlook.
GDP is projected to increase by 2.8 per cent in 2021 and 3.1 per cent in 2022 following a decline of 3.8 per cent this year. The setback this year will thus be smaller than previously expected, and GDP is estimate to surpass the pre-crisis level by 2022. However, the forecast in the Economic Survey was finalised before the second wave of the pandemic entered into the latest, very serious stage.