The CEE-4 will likely experience relatively moderate GDP contractions. Fiscal and monetary stimulus measures support private consumption. Despite rising COVID-19 cases, major lockdowns are unlikely to occur. Medium-term growth prospects remain promising across the region.

While a U.S. shift towards renewable energy has been slow to date, the sector is poised for significant growth. Strong policies are needed to accelerate the energy transition to mitigate adverse effects of climate change on the labor market.

We expect the economy to contract by 5.2% in 2020 and grow by 2.3% in 2021, driven mainly by the non-oil private sector. The Kingdom responded to COVID-19 and the plunge in oil prices with major fiscal consolidation, but deep structural reforms are needed to raise potential non-oil growth. 

This briefing note on digital inclusion examines the use of digitalization, digital identity, and changing infrastructures to promote a more inclusive economy.