Published: 2023-06-02T14:43:46.000Z
Country Insights Country Strength Index changes 2020Q2 vs 2023Q1
Quantitative Economist
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The change in the Country Strength Index from 2020 Q2 to 2023 Q1 release shows an improvement of some Asian countries, whereas the countries that have deteriorated the most in the subsample are European.
The current outcome for Australia demonstrates its rapid recovery from the pandemic. Favorable terms of trade, a solid fiscal consolidation and a tight labor market all represent factors of a robust economy. A very well managed vaccine rollout to manage the pandemic, combined with fiscal prudence and targeted monetary decisions have helped Singapore’s economic performance. On the other hand, Hungary suffered from higher energy and commodity prices as well as from supply-chain disruptions as a result of the Russia-Ukraine conflict. Additionally, Hungary’s large current account deficit and an increasing fiscal deficit remain key indicators to watch in 2023.