ArticleJanuary 11, 2023
When 2022 began, the government set a target of 5.5% GDP, a goal the market agreed was feasible. In fact, it wasn’t hard to find people who found this a conservative number. However, as Covid-19 continued, cities successively locked down to deal with rising cases, sometimes for months on end. Although this staved off the disease to some extent, it seriously affected economic growth, especially among small and medium-sized enterprises. Another factor in the slump is real estate. If estimates from the World Bank are to be believed, real estate, including up-and-downstream industries, accounts for as much as 30% of […]