GDP estimates point to sustained V-shaped economic recovery: Govt

The Ministry of Finance on Thursday said the fresh GDP estimates suggest continued resurgence in economic activity and point at sustained V-shaped recovery post-lockdown.
The ministry’s comments came after a 7.7% contraction in GDP was projected by the National Statistical Office.
The ministry added that a “relatively more manageable pandemic situation” has added momentum to recovery.
V-shaped recovery in which the economy quickly recoups lost ground and gets back to the normal growth trend-line.
A V-shaped recovery is characterized by a quick and sustained recovery in measures of economic performance after a sharp economic decline.
Because of the speed of economic adjustment and recovery in macroeconomic performance, a V-shaped recovery is a best case scenario given the recession.

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