Monday, November 1, 2021
The country is trying to rebuild its economy, which contracted by an estimated 7.6% in 2020. The fallout of the COVID-19 crisis has cut oil and gas income, which contributes about 90% of revenue, and crops were devastated by a cyclone earlier this year.
- Political instability and poor governance will undermine state planning.
- Foreign investors will be deterred by inadequate infrastructure and the low skills base.
- Strains with Australia over an espionage controversy will mar the main development partnership.