Asian Development Bank: Developing Asia to grow just 0.1% in 2020

The ADB reports that due to the containment measures, the developing Asia will grow just 0.1% in 2020.

"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.

Full text here: https://www.adb.org/news/developing-asia-grow-just-0-1-2020-adb

For more on Asian Development Outlook 2020 Supplement: Lockdown, Loosening, and Asia’s Growth Prospects, please visit: https://www.adb.org/publications/ado-supplement-june-2020", - it is said in the statement.