Republic of Madagascar

Download or read book Republic of Madagascar written by International Monetary Fund. African Dept. and published by International Monetary Fund. This book was released on 2022-09-23 with total page 97 pages. Available in PDF, EPUB and Kindle. Book excerpt: Madagascar has not yet recovered from the pandemic and is struggling with the aftermath of a severe cyclone season and the fallout of Russia’s war in Ukraine. After a sharp contraction of GDP in 2020 (-7.1 percent) and a modest recovery in 2021 (4.3 percent), growth is projected to stall in 2022. Lower demand from trading partners, higher fuel and food prices, and recent weather events are weighing on economic activity and leading to widening fiscal and external deficits in the short term.