The economies that have already recovered their size after the COVID-19 crisis

The economies that have already recovered their size after the COVID-19 crisis

A recent survey by PwC showed that over 90% of CEOs of Ireland-based companies are confident of economic growth this year, driven by exports, Foreign Direct Investment and better public finances.

Turkey was also one of the countries that grew during the pandemic and that, until the third quarter of 2021, according to data collected by Banco Base, its economy was 14.58% larger than that of 2019.

Although the problem with Turkey is the inflationary crisis in which it was involved during 2021. The Turkish lira was the most punished currency, in terms of devaluation, during the past year, due to pressure from the Executive power on the Central Bank.

Colombia, Chile and Peru recover in Latin America

Other economies that continued to grow during the pandemic included China, Taiwan and Egypt. And, in Latin America, Colombia, Peru and Chile stand out.

Colombia fell 6.8% in 2020, but as of the third quarter of 2021, it had already recovered and its GDP was already 3.6% higher than in 2019.

Chile closed the year 2021 with a historical rise of 12.2% in the Monthly Index of Economic Activity, something not registered in 30 years. As of the third quarter of 2021, its economy was already larger, by 7.64%, than in 2019. Despite having fallen 6% in 2020.

The northern neighbor, the United States, had a contraction equivalent to 3.4% in 2020 and now, after the growth experienced in 2021, not only has it recovered the lost ground, but now its economy has expanded 4.06% more than in 2019.

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