The economy slowed, and by 1998 GDP growth was only 0.6%. In 1999, the country fell into its first recession since the Great Depression. The economy shrank by 4.5% with unemployment at over 20%. While unemployment remained at 20% in 2000, GDP growth recovered to 3.1%. Unemployment in 2020 has improved compared to two decades ago to 12.20%.
The economy slowed and by 1998 GDP growth was only 0.6%. In 1999, the country fell into its first recession since the Great Depression. The economy shrank by 4.5% with unemployment at over 20% While unemployment remained at 20% i,n 2000 GDP growth recovered to 3.1%. Unemployment in 2020 has improved compared to two decades ago to 12.20%.