Xinhua world economic news summary at 1030 GMT, Sept. 7

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NEW DELHI -- India's economy, after being battered by two successive COVID-19 pandemic waves over the past one-and-a-half years, is on a recovery path, though at a slow pace.

The pre-pandemic economic level in the country is yet to be attained, even as the country's economy is expected to grow in double figures in the current financial year (April 2021-March 2022). (India-Economic recovery)

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BRUSSELS -- The COVID-19 pandemic has posed a major impact on retail trade and the demand for services worldwide as many countries mandated the closure of retail shops while bars and restaurants had to spend several months with chairs stacked on tables and shutters closed.

The pandemic caught most people unprepared. In an attempt to fight the pandemic, the member states of the European Union implemented a variety of measures, including restrictions on non-essential travel. (EU-Economy)

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NAIROBI -- Tax experts have called on African countries to digitalize revenue administration and collection as businesses increasingly shift activities online amid the COVID-19 disruption.

Githii Mburu, commissioner-general of the Kenya Revenue Authority, said COVID-19 challenges have now made it mandatory to digitalize tax collection. (Kenya-Economy)

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WASHINGTON -- U.S. investment bank Goldman Sachs on Monday revised down its forecast for U.S. economic growth this year as American consumers are likely to spend less amid a Delta variant-fueled COVID-19 surge, according to Bloomberg News.

Goldman Sachs economist Ronnie Walker wrote in a report to clients on Monday that overall U.S. economic expansion in 2021 is now seen at 5.7 percent, lower than 6 percent estimated at the end of August, Bloomberg reported. (U.S.- Economy-Delta variant) Enditem

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