In 2008, the economy witnessed a 3% increase in growth amid the global economic crisis. It grew 5.4% in 2011 and 3.7% in 2012. IMF projected economic growth to be 53% in 2020 following the completion of the first off-shore oil project. Actual growth in GDP in 2020 was 43%; reports in April 2021 anticipate 20% growth for 2021.