Ghana and 9 other world fastest-growing economies in 2020 (list)

Ghana and 9 other world fastest-growing economies in 2020 (list)

Despite the damaging impact of the coronavirus pandemic on the global economy, some countries have managed to stay afloat and maintain positive growth.

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A report by Bloomberg highlights a list of 10 countries whose economies are growing fast against all odds.

Legit.ng notes that African economies appear to have outperformed the rest of the world during the coronavirus pandemic as seven out of the 10 listed countries are from the continent.

List: Ghana and 9 other world fastest-growing economies in 2020
List of world's 10 fastest-growing economies in 2020. Photo credits: Feng Li, Christian Minelli, Chesnot, Paul Marotta
Source: Getty Images

The Bloomberg report states that the coronavirus may have improved the competitive advantage of the listed African economies as the pandemic accelerated their transformation into hubs of wireless, remotely engaged commerce.

See the list below:

1. Bangladesh

2. Ethiopia

3. Vietnam

4. China

5. Uganda

6. Ivory Coast

7. Egypt

8. Ghana

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9. Rwanda

10. Kenya

Meanwhile, Nigeria has officially slid into another recession, according to the Gross Domestic Product (GDP) report released by the National Bureau of Statistics (NBS) on Saturday, November 21.

However, Nigeria is not the only country that has slipped into recession as at least 40 countries across the world are facing the same challenges.

Some of those countries include the United States, Japan, United Kingdom, India, Brazil, Russia, and South Africa.

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Recall that President Muhammadu Buhari said Nigeria's current recession was caused by the coronavirus pandemic.

The president made this known on Monday, November 23, at the 26th Nigerian Economic Summit with the theme: “Building Partnerships for Resilience’’.

However, Atiku Abubakar, Nigeria's former vice president, said the country's recession could have been avoided if President Muhammadu Buhari had heeded the advice given by him and other Nigerians.

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He said the recession could have been avoided if the Buhari-led government had taken three key steps he advised.

The steps the federal government failed to take which led to the recession, according to Atiku, include cutting the cost of governance, saving for a rainy day and avoiding profligate borrowing.

Minister of industry says economy is improving; Nigerians disagree | - on Legit TV

Source: Legit.ng

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