Economy

After a long period as one of the least socio-economically developed states in Mexico, the administration of Hidalgo's governor, Omar Fayad, issued a series of policies designed to reinvigorate growth and transform economic activity.

Following on from a year in which supply chains and international travel were severely disrupted, 2021 saw an increase in global cooperation, as institutions, businesses and governments alike sought to work together to find solutions to some of the world’s major challenges.

Driven by a combination of higher commodity prices, the relaxing of lockdowns and a recovery in global trade, Africa has had some success in overcoming the recession provoked by the coronavirus pandemic and returned to growth in 2021.

While Morocco was severely impacted by the pandemic, it is projected to return to positive growth in the near term.

The disruption to daily life created by the pandemic has precipitated an acceleration of the digital transformation process already under way in the corporate sector in Qatar, with private firms waking up to the potential to enhance productivity and generate new revenue streams through digital solutions.

While Asia witnessed a return to growth following the economic uncertainty of 2020, a number of factors such as supply chain bottlenecks, weak global demand and the persistence of Covid-19 somewhat hindered the region’s economic recovery in 2021.