He believes the economy next year will still feel the pinch from the Covid-19 outbreak. GSB’s lending is 2021 will focus on the grassroots economy, which has been hit hardest by the outbreak’s impact, he added.
While GSB judges that the economy has bottomed out, questions remain over its rate of recovery, according to Vitai. He forecast that the economic impact of Covid-19 as well as political tensions would last long into next year.