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Our main list is still based on the IMF forecasts for 2020. The International Monetary Fund estimates GDP growth in more than 190 countries.
10. Ethiopia: 1.9% GDP growth
Ethiopia is a regular participant on our list, as it is a very poor but rapidly developing region. The second most populous country in Africa has even fallen back this year compared to previous years’ rankings. The worst news is that the sustainability of growth has also been damaged by the epidemic and heightened social tensions, and this year the country also needed an IMF bailout package.
9. Tanzania: 1.9%
Last year, Tanzania climbed to the bottom of the middle-income country category, which, while not a regular player on the growth chart, has been producing rapid growth for years. Dynamic revenue growth again this year was a sufficient counterbalance to the direct and indirect effects of the pandemic, thus avoiding the economic recession. The per capita national income of $ 1,000 is a good indication that the country still has a long way to go.
8. China: 1.9%
If we had heard 5 years ago that China would be on the growth list with growth below 2% in 2020, we would have known immediately that this would be a very special year, not in a good way. Indeed, it is thanks to China’s strict and exemplary epidemic management that it overcame the crisis relatively quickly and was already able to produce dynamic growth in the second half of the year.
7. Benin: 2.0%
One of the most democratic but very poor countries in Africa has been growing rapidly for years, of which it has been able to survive quite a bit even in the midst of a pandemic. While social tensions are common here as well, the structure of economic growth appears to be sustainable, so the short-term outlook is encouraging.
6. Myanmar: 2.0%
Myanmar regularly appears on the list of growing leaders. At the beginning of the year, you could still count on growth of around 6%, but in the end, a GDP expansion of 2% was enough to be on the top list. A country rich in raw materials and deficient in democratic norms could expand spectacularly again next year.
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