Finance chief optimistic after massive decline
The nation’s finance chief has brushed off a recent historic drop in Samoa’s economy, saying he believes that the worst effects of the pandemic-led downturn are over.
A quarterly decline in the nation’s Gross Domestic Product (G.D.P.) of 16.3 per cent was reported for the September quarter of 2020 compared to the year prior, according to Government statistics released last week. The drop was the largest fall in the nation’s economy since quarterly economic records started being kept more than two decades ago.