world bank economic outlook 2021

'World Development Report 2009: Reshaping Economic Geography' concludes that these spatial transformations are essential, and should be encouraged. The conclusion is not without controversy. The economic outlook is positive, with real GDP projected to grow 4.1% in 2021 and 5.8% in 2022, due to improved performance of the tourism sector and the reopening of trade corridors. With 189 member countries, staff from more than 170 countries, and offices in over 130 locations, the World Bank Group is a unique global partnership: five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. The world economy is experiencing a very strong but uneven recovery, with many emerging market and … The World Bank on Thursday projected Thailand’s 2021 economic growth at 2.2%, lower than the 3.4% initially forecasted. Found insideThe OECD Economic Outlook is the OECD's twice-yearly analysis of the major economic trends and prospects for the next two years. The projections for 2021 and 2022 are stronger than in the October 2020 WEO. Meanwhile, the IMF has revised its Malaysia 2020 GDP forecast to a 3.8% y-o-y contraction from the previously estimated 1.7% contraction as the Covid-19 pandemic has had a more negative impact on global activity in the first half of 2020 (1H20) than anticipated. According to the globallender, the growth will largely be driven by a projected 6.0 percent growth in emerging markets and developing economies, coupled with a 5.4 percent growth in advanced … The bank raised its dividend payout after Singapore's central bank last week removed caps on bank dividends, citing the improving global economic outlook. The recovery in international demand and copper prices are positive developments, while a reduction in COVID–19 cases will boost activity both in manufacturing and tourism. Found insideThis is the first comprehensive study in the context of EMDEs that covers, in one consistent framework, the evolution and global and domestic drivers of inflation, the role of expectations, exchange rate pass-through and policy implications ... The report predicts that South Sudan’s economy will recover from 2021-2022 and beyond if the government eradicates poverty and food insecurity. Found insideThe Economic Outlook for Southeast Asia, China and India is a bi-annual publication on regional economic growth, development and regional integration in Emerging Asia. Tunisia is a classic example of the failed IMF/World Bank development model; The pandemic exposes the damage that neoliberalism has caused; Has global trade peaked? 05 Aug 2021 01:54PM (Updated: 05 Aug 2021 02:05PM) BERLIN :German sportswear company Adidas raised its outlook for full-year sales and profitability as demand soared in most of the world … The pandemic is With fewer school days and lower employment rates, with higher public debt and more firms under stress, the effects could be long‐lasting. He also talks about the global economic outlook for 2021… The COVID-19 pandemic continues to cast a long shadow over the world’s economies. Several risks cloud the outlook, including those related to the pandemic and to rapidly rising debt. The new economic cycle has seen stock market leadership pass from the U.S. to Europe this year, as we forecast in our 2021 Global Outlook: New Cycle, New Leadership. Found inside – Page 1Global growth is forecast at 3.0 percent for 2019, its lowest level since 2008–09 and a 0.3 percentage point downgrade from the April 2019 World Economic Outlook. 1610080200. FIGURE 2.4.2 MENA: Outlook and risks The regional economy is expected to grow by a modest 2.1 percent in 2021, supported largely by firming global oil demand and easing domestic lockdowns. The global economy is set to expand 5.6 percent in 2021—its strongest post-recession pace in 80 years. This report proposes a reform agenda that emphasizes productivity and innovation to help policymakers promote China's future growth and achieve their vision of a modern and innovative China. Read "Global Economic Prospects, June 2021" by World Bank available from Rakuten Kobo. World Bank IMF and Dev Agencies: 1177 VIEWS : World Bank IMF and Dev Agencies: 1177 VIEWS : Thursday, April 15, 2021 / 01:40 PM / by IMF / Header Image Credit: IMF. The projection cut was attributed to the country’s weak tourism and a third wave of COVID-19 infections. GDP growth in 2020-2021 is projected to contract by -4.5 percent largely due to shocks caused by falling oil prices in the global market. Found insideThe World Bank Group has two overarching goals: End extreme poverty by 2030 and promote shared prosperity by boosting the incomes of the bottom 40 percent of the population in each economy. Sub-Saharan Africa’s economy set to recover in 2021 – World Bank. The World Bank said it expects Thailand’s economy to return to its pre-pandemic levels in 2022, following a slow and […] Found insideEconomic growth in Sub-Saharan Africa is estimated to have decelerated from 2.5 percent in 2017 to 2.3 percent in 2018, below the rate of growth of population for a fourth consecutive year. Developing Asia Outlook. 10 Only 28 economies are expected to have grown in 2020, with China the only G-20 country among them. European leadership. The figure is below the government's growth target of 6 to 7 percent for 2021. The January edition includes in-depth analyses of topical policy challenges faced by these economies, while the June edition contains shorter analytical pieces. Ethiopia. 2/18/2021 1 Global Economic Prospects February 2021 M. Ayhan Kose and Naotaka Sugawara • Global Outlook • Regional Outlooks • How has the Pandemic Made the Fourth Wave of Debt More Dangerous? Industry consensus forecasts for 2021 GDP have been revised higher to around 5.5% for 2021, a considerable improvement relative to the Bank of Canada's (BoC) estimate of 4.0%. Found insideBrazil is at crossroads, emerging slowly from a historic recession that was preceded by a huge economic boom. The report predicts that South Sudan’s economy will recover from 2021-2022 and beyond if the government eradicates poverty and food insecurity. Available evidence suggests that poverty levels in Guatemala are higher than other Central American countries, with data for 2000 showing over half of all Guatemalans (about 6.4 million people) living in poverty, with about 16 per cent ... Despite the recovery, global output will be about 2% below pre-pandemic projections by … Yet emerging economies will largely fall behind due to debt pressures and slow vaccination. Cambodia's economy is projected to return to four per cent growth next year, the World Bank said, citing an improvement in economic activities and the effective implementation of the government’s intervention measures to keep the economy afloat amid Covid-19. Cambodia's economy is projected to return to four per cent growth next year, the World Bank said, citing an improvement in economic activities and the effective implementation of the government’s intervention measures to keep the economy afloat amid Covid-19. Registration for this event is now closed. 22(02), pages 47-47, March. The global recovery, however, has been dampened in the near term by a resurgence of new COVID-19 cases, and the majority of country forecasts have been downgraded in the last six months (figure A). Global Economic Prospects, January 2021. The projections for 2021 and 2022 are stronger than in the October 2020 WEO. The Human Capital Index (HCI) database provides data at the country level for each of the components of the Human Capital Index as well as for the overall index, disaggregated by gender. Found insideThe report provides an overview of alcohol consumption and harms in relation to the UN Sustainable Development Goals (Chapter 1) presents global strategies action plans and monitoring frameworks (Chapter 2) gives detailed information on: ... As such, the World Bank said it expects Malaysia GDP growth to resume in 2021 at 6.9% as the outbreak eases. 4 CHAPTER 1 GLOBAL ECONOMIC PROSPECTS | JANUARY 2021 TABLE 1.1 Real GDP 1 (Percent change from previous year) 2018 2019 2020e 2021f 2022f 2020e 2021f World 3.0 2.3 -4.3 4.0 3.8 0.9 -0.2 Yet, Hungary still awaits negative growth rates this year, although the drop in 2021 is foreseen to be lower than last year. Found insideThe OECD Sovereign Borrowing Outlook provides regular updates on trends and developments associated with sovereign borrowing requirements, funding strategies, market infrastructure and debt levels from the perspective of public debt ... Jordan’s real GDP growth is projected to recover to 1.4% in 2021 from an estimated contraction of 1.8% over last year. The World Bank raised its forecast of China's economic growth this year to 8.5 per cent from 8.1 per cent and said Tuesday that a full recovery requires progress in vaccinations against the coronavirus.. He also talks about the global economic outlook for 2021. The report adds to positive signs for China, the first major economy to rebound from the pandemic. The COVID-19 pandemic continues to cast a long shadow over the world’s economies. Non-oil GDP is forecast to recover in 2021, growing by 5.5% before converging to a historical potential GDP growth trend in 2022-23. The region’s growth is forecast to rebound to 7.3% in 2021, moderating to 5.3% in 2022. After a sharp slowdown to 0.9 percent in 2020, output in East Asia and Pacific (EAP) is projected to expand 7.4 percent in 2021, to a level still around 3 percent below pre-pandemic projections. This is the United Nations definitive report on the state of the world economy, providing global and regional economic outlook for 2020 and 2021. The projections for 2021 and 2022 are stronger than in the October 2020 WEO. The Euro area and Latin America are expected to have contracted the most in 2020. As per the report, U.S. will experience the growth to 5.1 percent in 2021 from 3.1 percent in 2020. The World Bank on Tuesday, Jan. 5, 2021 forecast that the global economy will see a subdued recovery this year from a devastating pandemic but warned that the near-term outlook is highly uncertain and growth could be harmed if infections keep rising and the rollout of vaccines is delayed. Sub-Saharan Africa 2021 Regional Economic Outlook: Navigating a Long Pandemic. Regional Economic Outlook for Sub-Saharan Africa, April 2021 April 15, 2021 Description: Despite turning out better than expected, growth in 2020 is estimated to be the worst on record, at –1.9 percent, leading to a large increase in poverty. The economy is projected to grow by 1.0% in 2021 and 2.0% in 2022, underpinned by recovery in the mining, tourism, and manufacturing sectors. The Canadian economy has shown remarkable resilience despite larger lockdowns than the United States. In its Philippines Economic Update released on Tuesday, the multilateral lender cut its 2021 gross domestic product (GDP) growth projection again from 5.5% in March and the 5.9% forecast given in January. this challenging backdrop, the twenty-second edition of the World Bank’s Kenya Economic Update (KEU 22) provides a detailed update of recent economic developments and the outlook and discusses policy options as Kenya continues to navigate through the pandemic. The report covers a number of issues. The World Bank said: Found insideThe Future of Work in Africa focuses on the key themes of creating productive jobs and addressing the needs of those left behind. BANGUI, August 04, 2021 - The fourth edition of the Central African Republic Economic Update, released today by the World Bank, has confirmed that the country’s economy decelerated in 2020. It places them in a longer-term and global context and assesses the implications these developments and changes in policies have on the outlook for Algeria. Although the global economy is emerging from the collapse triggered by COVID-19, the recovery is likely to be subdued, and global GDP is projected to remain well below its pre-pandemic trend for a prolonged period. More difficult international conditions in the years to come will mean that developing countries will have to place even more emphasis on improving domestic economic conditions to achieve the kind of growth that can durably eradicate ... As these fundamental drivers of long-term growth weakened, growth in global potential output—the output that can be sustained at full employment and capacity utilization—had fallen to … This report provides background on China's economic rise; describes its current economic structure; identifies the challenges China faces to maintain economic growth; and discusses the challenges, opportunities, and implications of China's ... World Bank (2021-03-29) Latin America and the Caribbean suffered the largest death toll from Covid‐19 across developing regions and the sharpest decline in economic activity. Found insideThis Interim Report provides updates for G20 country projections made in the November 2019 issue of OECD Economic Outlook (Number 106). 'World Economic Outlook, April 2021 (Aug 03, 2021) Global growth is projected at 6 percent in 2021, moderating to 4.4 percent in 2022. The bank raised its dividend payout after Singapore's central bank last week removed caps on bank dividends, citing the improving global economic outlook. The bank on Tuesday issued its January 2021 Global Economic Prospects report, in which it provides its economic outlook for the year. Yet, Hungary still awaits negative growth rates this year, although the drop in 2021 is foreseen to be lower than last year. The World Bank released this on Monday in its January 2021 Global Economic Prospects. Read Global Economic Prospects, June 2021 by World Bank with a free trial. The world economy is experiencing a very strong but uneven recovery, with many emerging market and developing economies facing obstacles to vaccination. Press Release: Global Economy to Expand by 4% in 2021; Vaccine Deployment and Investment Key to Sustaining the Recovery; Report website and Report download; Blog: The global economic outlook in five charts; Feature Story: A Subdued Recovery, with Damage to Undo Found inside – Page 1In addition to discussing global and regional economic developments and prospects, this edition of Global Economic Prospects includes two Special Focus essays of critical importance for emerging and developing economies: an analysis of ... The January edition includes in-depth analyses of topical policy challenges faced by these economies, while the June edition contains shorter analytical pieces. This is a pivotal period in Sri Lanka's economic development. The end of conflict opens a door for accelerated economic growth and poverty reduction. 2021. WEO World Economic Outlook WBG World Bank Group WFP World Food Programme y-o-y Year-on-year. BEIJING (AP) — The World Bank raised its forecast of China’s economic growth this year to 8.5% from 8.1% and said Tuesday a full recovery requires progress in vaccinations against the coronavirus. The 2018 Macroeconomic Report, A Mandate to Grow, revisits the growth debate that has been raging in the region for the past half century. All queries on rights and licenses should be addressed to World Bank Publications, The World Bank Group, 1818 H Street NW, Washington, DC 20433, USA; e-mail: pubrights@worldbank.org. A country's economic conditions are influenced by numerous macroeconomic and microeconomic factors, including monetary and fiscal policy, the state of the global economy, unemployment levels, productivity, exchange rates, inflation and many others. The initial target was also downgraded from 6.5 to 7.5 percent. Global growth will likely moderate to 3.7 percent in 2022, weighed down by the pandemic’s lasting damage to potential growth. Morocco's Economic Update — April 2021. Delays in vaccine rollout would lead to additional lockdowns, which in turn impact economic activity. The economic growth of the world is projected at 4.2 percent in 2022. The World Economic Outlook (WEO) database contains selected macroeconomic data series from the statistical appendix of the World Economic Outlook report, which presents the IMF staff's analysis and projections of economic developments at the global level, in major country groups and in many individual countries. The result of two years work by 19 experienced policymakers and two Nobel prize-winning economists, 'The Growth Report' is the most complete analysis to date of the ingredients which, if used in the right country-specific recipe, can ... It further estimated that there will be 3.5 percent contraction in global growth in 2020. economic outlook. Definition. Forecasted expectations for how well the economy will perform during an upcoming quarter, year or other time period. An economic outlook could include expectations for inflation, productivity growth, unemployment and balance of trade. The growth of the global economy refers to an increase in the total value of goods and services exchanged on the planet, usually measured per year (or per quarter, annualized). In making this measurement, we are using money as a unit of account, summing up the estimated value of all those transactions. The world economy is experiencing a very strong but uneven recovery, with … No Comments The IMF released today its April 2021 World Economic Outlook, increasing projected global growth in 2021 and 2022 from its earlier projections. Found insideThis book focuses on their latest cutting-edge research into the appropriate role of credit as an asset class, the dynamics of credit benchmarks, and potential ways to benefit from equity information to construct effective credit portfolios ... Jan.25 -- World Bank President David Malpass says it's a big challenge to ensure developing nations are able to access the Covid-19 vaccine. However, the government response to the crisis has been appropriate, and the ambitious reforms being implemented could set the stage for a solid recovery. Press Release: Global Economy to Expand by 4% in 2021; Vaccine Deployment and Investment Key to Sustaining the Recovery; Report website and Report download; Blog: The global economic outlook in five charts; Feature Story: A Subdued Recovery, with Damage to Undo The bank expects the U.S. economy to expand 6.8% in 2021, up from the 3.5% it forecast in January; the world’s biggest economy shrank 3.5% last year as COVID-19 brought economic activity to a near standstill in the spring. “The fiscal … Factory and consumer activity are back above pre-outbreak levels, though authorities have … Energy and fuel price increases are expected to persist in 2021, raising overall inflation to 3.9% in 2021 and 3.4% in 2022. World Bank: Economy to rebound in 2021. BANGKOK:Thailand's economy is forecast to grow 2.2% this year, down from the 3.4% projected earlier, due to the impact of a third wave of COVID-19 infections and weak tourism, the World Bank … To predict poverty in the former we use the GEP growth forecasts from January 2021, and for the pandemic free world, we use GEP growth forecasts made in January 2020. The World Bank has forecasted that the global economy is set to rebound by 4% in 2021, while Nigeria’s economy is expected to resume at 1.1%. GLOBAL ECONOMIC PROSPECTS | JANUARY 2021 SUB-SAHARAN AFRICA 103 FIGURE 2.6.2 SSA: Outlook and risks After contracting steeply last year, growth in the region is forecast to resume at only a modest pace in 2021-22, with particularly sluggish recoveries in private consumption and investment. Found insideThe outlook for the global economy has darkened. Data cited at: World Economic Outlook, April 2021, The International Monetary Fund. Description: Global growth is projected at 6% in 2021, moderating to 4.4% in 2022. Photo: Pixabay. The Weekend Quiz – July 31-August 1, 2021 – answers and discussion Originally published in the 2021 Global Economic Prospects report Foreword. Guyana. However, many emerging market and developing economies continue to struggle with the COVID-19 pandemic and its aftermath, the World Bank says in its June 2021 Global Economic Prospects. The World Bank is also optimistic about Ghana’s commitment to fiscal consolidation which remains the most crucial aspect of the country’s macro-economic management. This recovery is uneven and largely reflects sharp rebounds in some major economies. Found inside – Page iThrough 18 chapters, this book draws on policy lessons from successful countries that have managed to overcome political economy constraints and reach upper-middle-income emerging market economy status to examine how Senegal can achieve per ... The World Bank raised its forecast of China’s economic growth this year to 8.5% from 8.1% and said Tuesday, June 29, 2021, a full recovery requires progress in … Global economic activity is expected to over the firmforecast horizon as confidence, GDP growth in Iraq is projected to rise to 1.9% in 2021 and 6.3% on average over the subsequent two years. Economic prospects have diverged further across countries since the April 2021 World Economic Outlook (WEO) forecast. Found insideThe Mobility of Displaced Syrians: An Economic and Social Analysis sheds light on the 'mobility calculus' of Syrian refugees. MADISON, Wis. (WMTV) – A new survey of Wisconsin bank CEOs released Tuesday indicates a more favorable outlook of the economy now than compared to the end of 2020. May Kunmakara. Building on the New Economic Foundation and Jubilee 2000's experience of making complex economic issues interesting and attractive to a mass audience, and publishing alternative reports, the Real World Economic Outlook provides an overview ... In 2018, the World Bank launched the Human Capital Index (HCI), which is designed to highlight how improvements in current health and education outcomes will shape the productivity of the next generation of workers. Recently, the International Monetary Fund (IMF) in its 'World Economic Outlook' report, 2021, has projected a slowdown in India's growth rate for the fiscal year 2021-22. Add this event to any of these calendars. The combined impacts of the COVID-19 pandemic and renewed insecurity amid post-election disputes are expected to plunge the economy into a recession in 2021. The bank on Tuesday issued its January 2021 Global Economic Prospects report, in which it provides its economic outlook for the year. GMT+7. Add to Calendar Add to Calendar. The Global Economic Prospects is a World Bank Group Flagship Report that examines global economic developments and prospects, with a special focus on emerging market and developing economies. The countries of the Caribbean region benefit from a number of preferential trade arrangements. Non-oil GDP is forecast to recover in 2021, growing by 5.5% before converging to a historical potential GDP growth trend in 2022-23. May Kunmakara. The global economy contracted by an estimated 4.3 percent in 2020, and while a 3.8 percent rebound is projected for 2021, worldwide economic output is expected to remain well below prepandemic trends over the near term. In its Philippines Economic Update released on Tuesday, the multilateral lender cut its 2021 gross domestic product (GDP) growth projection again from 5.5% in March and the 5.9% forecast given in January. Chang Woon Nam, 2021. " The World Bank has upgraded its outlook on Sub-Saharan Africa GDP growth in 2021 from -5.1 per cent to 3.4 per cent growth after a two per cent contraction last year. Global growth is projected at 6% in 2021, moderating to 4.4% in 2022. The upgrade seems appropriate to us. Read millions of eBooks and audiobooks on the web, iPad, iPhone and Android. Found insideWorld Development Report 2020: Trading for Development in the Age of Global Value Chains examines whether there is still a path to development through GVCs and trade. Source: Charles Schwab, International Monetary Fund and World Bank data as of 5/27/2021. This collection pulls together a galaxy of world experts (including Roy Batchelor, Richard Curtin and Staffan Linden) on inflation expectations to debate different aspects of the issues involved. The World Bank projects SA's economy to rebound by 3.3% in 2021, with the global economy set for a recovery of 4%, following the harsh blows of the Covid-19 pandemic. Learn more World Economic Outlook, Overview, July 2021 Found insideChina proposed the Belt and Road Initiative in 2013 to improve connectivity and cooperation on a transcontinental scale. This study, by a team of World Bank Group economists led by Michele Ruta, analyzes the economics of the initiative. (AP Photo/Jose Luis Magana, File) Jan.25 -- World Bank President David Malpass says it's a big challenge to ensure developing nations are able to access the Covid-19 vaccine. The economies of the three largest economies in sub-Saharan Africa, Nigeria, South Africa and Angola, are expected to show economic growth in 2021, partly due to higher commodity prices, such as maize, says independent political analyst, Theo Venter. Economic prospects have diverged further across countries since the April 2021 World Economic Outlook (WEO) forecast. Meanwhile, the IMF has revised its Malaysia 2020 GDP forecast to a 3.8% y-o-y contraction from the previously estimated 1.7% contraction as the Covid-19 pandemic has had a more negative impact on global activity in the first half of 2020 (1H20) than anticipated. Reports that following a collapse last year caused by the COVID-19 pandemic, global economic output should expand 3.8 percent in 2021, but will remain more than 5 percent below pre-pandemic projections. Although the global economy is emerging from the collapse triggered by COVID-19, the recovery is likely to be subdued, and global GDP is projected to remain well below its pre-pandemic trend for a prolonged period. According to the World Bank’s June 2021 report, the global economy is projected to grow at a rate of 5.6 percent in 2021, 1.6 percentage points higher than their initial outlook of 4.0 percent. Presents the story of civilization from 2000 B.C. through today. Offers a historical perspective on peoples and places in today's headlines, from the Middle East to Central Africa to the Pacific Rim. The upward revision reflects additional fiscal support in a few large economies, the anticipated vaccine-powered recovery in the second half of 2021, and continued adaptation of economic activity to subdued mobility. World Bank President David Malpass says it's a big challenge to ensure developing nations are able to access the Covid-19 vaccine. The share of immigrants in Western and Eastern Europe has increased rapidly over the past four decades. Today, one of every three immigrants in the world goes to Europe. 2021. Vietnam Economic Outlook 2021 Featuring a Special Guest Speaker from the World Bank. xi EXECUTIVE SUMMARY D espite recent progress on vaccine ... WEO in April 2021 indicate that the global economy 1. The global economy is set to expand 5.6 percent in 2021—its strongest post-recession pace in 80 years. ISBN (paper): 978-1-4648-1665-9 Found insideGovernments fail to provide the public goods needed for development when its leaders knowingly and deliberately ignore sound technical advice or are unable to follow it, despite the best of intentions, because of political constraints. It is important to note that while we are now ‘looking back’ at 2020, our estimates are still relying on extrapolations of household surveys that pre-date 2020. The World Bank expects GDP growth to slow to 1.5% in 2023, and it has suggested that job creation will be central to preserving macroeconomic stability. Found insideThe ambitious 15-year agenda known as the Sustainable Development Goals, adopted in 2015 by all members of the United Nations, contains a pledge that “no one will be left behind.” This book aims to translate that bold global commitment ... In the immediate run, several policy measures are expected to provide some boost including public sector employees’ salary increase, social security net programs and the minimum wage increase. The U.S. economic outlook is healthy according to the key economic indicators. The most critical indicator is the gross domestic product, which measures the nation's production output. The GDP growth rate is expected to remain between the 2% and 3% ideal range. Unemployment is forecast to continue at the natural rate. Nov 5 2019 Wed, 16 December 2020. Found insideThe database, the full text of the report, and the underlying country-level data for all figures—along with the questionnaire, the survey methodology, and other relevant materials—are available at www.worldbank.org/globalfindex. The World Bank projects SA's economy to rebound by 3.3% in 2021, with the global economy set for a recovery of 4%, following the harsh blows of the Covid-19 pandemic. Outlook and risks. The report adds to positive signs for China, the first major economy to rebound from the pandemic. • Asset Purchase Programs in Emerging Markets: Unconventional Policies, Unconventional Times Global Economic Prospects – January 2021 The global economy will grow 5.6% — the most in 80 years — in 2021, the World Bank said Tuesday. Found insideWorld Development Indicators 2016 provides a compilation of relevant, high-quality, and internationally comparable statistics about global development and the fight against poverty. As such, the World Bank said it expects Malaysia GDP growth to resume in 2021 at 6.9% as the outbreak eases. The country's Gross Domestic Product (GDP) can grow to 4.7 percent from the initial forecast of 5.5 percent, World Bank senior economist Kevin Chua said in a virtual briefing. Compared to the June World Bank Group Global Economic Outlook report, Mexico’s expectations improved 1.5 points for 2020 and 0.7 points for 2021. 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