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"Developing Asia will barely grow in 2020 as...>

ASIA
ASIA: "Developing Asia will barely grow in 2020 as containment measures to
address the coronavirus disease (COVID-19) pandemic hamper economic activity and
weaken external demand, according to a new set of forecasts from the Asian
Development Bank (ADB). In a regular supplement to its annual flagship economic
publication, the Asian Development Outlook (ADO) 2020 released in April, ADB
forecasts growth of 0.1% for the region in 2020. This is down from the 2.2%
forecast in April and would be the slowest growth for the region since 1961.
Growth in 2021 is expected to rise to 6.2%, as forecast in April. Gross domestic
product (GDP) levels in 2021 will remain below what had been envisioned and
below pre-crisis trends. Excluding the newly industrialized economies of Hong
Kong, China; the Republic of Korea; Singapore; and Taipei,China, developing Asia
is forecast to grow 0.4% this year and 6.6% in 2021."
- Link: https://www.adb.org/news/developing-asia-grow-just-0-1-2020-adb
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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