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GDP growth bottomed in Q2 and should recover around 5.0% y/y in H2 2022. The July Politburo meeting confirmed this, stressing “stability” and dropping the 5.5% GDP growth target. We maintain our forecast for 2022 unchanged at 3.7%.
Whether high-income banks in developed countries or microlenders in emerging markets, the banking sector and its alliances will be indispensable in decarbonising the economy and ensuring a fair transition to net zero emissions.
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