GDP forecast Deep recession

The economy is projected to contract by 10.8 percent to 12 percent in 2020 under the impact of the unprecedented financial and economic crises and the coronavirus pandemic, according to the forecasts of three international financial institutions. Gross Domestic Product (GDP) is estimated to have shrunk by 5.6 percent to 6.5 percent in 2019.

Convergence of negative factors

The economy, whose growth rate was gradually slowing following the outbreak of the Syrian War in 2011, recorded a negative growth rate of 1.9 percent in 2018. The recessionary