The forecast is based on the country's high vaccination coverage, trade expansion, and continued accommodative monetary and fiscal policies.
A recovering labour market and other stimulus measures will spur industrial growth by a forecast 9.5% in 2022, contributing 3.6 percentage points to GDP growth.
The Government’s tourism-reopening policy implemented in March and the lifting of pandemic controls are expected to boost services, with the sector forecast to grow by 5.5 per cent and contribute 2.3 percentage points to GDP growth this year.
