Africa's biggest economy was last in recession in 2016, its first in a generation, and emerged the following year. But growth has been fragile and the pandemic has hit the economy hard, amid low oil prices. "Q3 2020 Real GDP contracted for second consecutive quarter by -3.62%," Yemi Kale, the statistician general, said on Twitter. "As these restrictions were lifted, businesses re-opened and international travel and trading activities resumed, some economic activities have returned to positive growth," it said. The government had previously said it expected the economy to contract by as much as 8.9% this year in a worst-case scenario without stimulus.

Source: Dhaka Tribune November 21, 2020 13:07 UTC