The economy is the backbone of any country located on the planet. The most economically powerful government is the owner of money, influence and power because it can build a strong army and a humane life for its residents, in addition to its continuous development and development in all fields. The world was affected a lot after the spread of the Coronavirus. It turned the scales and affected the economy of the most powerful countries in the world.
Everyone entered quarantine for months, and business, services, trade, and industry stopped. All the economic elements almost collapsed with the last days before the end of the quarantine, so everyone wanted to learn about the world’s economic ranking in 2021. what countries have been affected by the emerging coronavirus pandemic (Covid-19), and what countries have maintained their economy and strength on the ground? Here’s a look at The Fastest Growing Economy In The World 2021, based on the International Monetary Fund’s April 2021 forecast.
The Fastest Growing Economy In The World
Libya
According to the World Bank, Libya is an oil country, a member of OPEC and classified as an upper-middle-income economy. In 2011, its economy was approaching $80 billion and had shrunk to $17 billion by 2015. The country saw a recovery during 2019. However, 2020 saw Libya as a country with two opposing systems of government operating with separate budgets.
- 2020: (59.72%)
- 2021: 130.98%
- 2022: 5.44%
- 2023: 4.87%
Macao SAR
Macao SAR has been a Special Administrative Region of the People’s Republic of China since December 1999 and is classified by the World Bank as a high-income region. In 2002, the Macao SAR Special Administrative Region government liberalized the game market. At the end of 2020. Macao SAR is the largest amusement park in the world.
- 2020: (56.31%)
- 2021: 61.22%
- 2022: 43.04%
- 2023: 4.75%
Maldives
Famous for tourism, the Maldives is a nation of islands in the Indian Ocean that stretches across the equator. Its economy will expand to $4.5 in 2021 and grow by 18.87% in 2021. Based on current IMF estimates, the Maldives is set to cross the $7 billion mark by 2025.
- 2020: (32.24%)
- 2021: 18.87%
- 2022: 13.38%
- 2023: 12.63%
Guyana
Covered in dense forests, Guyana is home to fertile agricultural land and abundant natural resources. Its GDP of $5.76 billion in 2020 is expected to expand to $7.25 billion in 2021. Its GDP per capita is $7,327 and is expected to grow to $9,192 in 2021.
- 2020: 43.38%
- 2021: 16.39%
- 2022: 46.49%
- 2023: 30.56%
India
The Republic of India is a federal democracy consisting of 29 states and seven union territories. It is the largest democracy and the sixth-largest economy globally, with thriving manufacturing, technology and service sectors. Some strategic steps have been taken to stimulate the business environment in India, including reforms to remove bottlenecks in crucial business areas, reduce minimum capital requirements and simplify the process of obtaining necessary licenses. and India is The Fastest Growing Economy In The World 2021
2020: (7.97%)
2021: 12.55%
2022: 6.93%
2023: 6.82%
