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Economic Update – Facing new growth challenges

Economics Note 21/08/2020    180


  • We cut our 2020F GDP growth forecast by 1% pt to +3.5% in our baseline scenario due to growing uncertainties over the latest Covid-19 outbreak.
  • Our 2020F average inflation rate is kept unchanged at 3.2% yoy.
  • We expect to see robust public investment expansion to drive economic growth in the next few quarters.

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