As more information emerges about the Omicron variant and restrictions begin to ease, Scotland’s Gross Domestic Product (GDP) is expected to grow by 4.8% this year.
KPMG UK analysis predicts that Scotland’s growth is then expected to moderate and settle at more typical levels of 2% in 2023.
The Scottish economy contracted by 9.7% during 2020, broadly in line with the UK average, and in the third quarter of 2021, GDP was still 1.9% below its pre-pandemic level.
