North Wales’ post-pandemic economic outlook – “Unique position to ride through the challenges”
According to the World Bank report published on January 5, 2021, the outlook for the global economy appears very fragile and varies from region to region.
The collapse of the world economy due to the Covid-19 pandemic compares with the deep recessions after both the First and Second World Wars.
The vast majority of countries have borrowed eyewatering sums of money in order to prevent a sudden crash of their economies.
David Malpass, the World Bank’s president, believes: “To overcome the impacts of the pandemic and counter the investment headwind, there needs to be a major push to improve business environments, increase labour and product market flexibility, and strengthen transparency and governance.”
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