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Economic Update – July 2021

More than a year after stringent lockdowns and various other regulations ravaged the global economy, COVID-19 along with its subsequent variants continue to create some uncertainty in world markets. However, since early 2020 the recovery experienced in global trade and economic growth has been remarkable as the vaccine rollout gathered pace. This together with significant financial assistance by most central banks and governments in the form of fiscal stimulus and accommodative monetary policies, contributed to positive sentiment and an increase in asset prices.