Asian Development Outlook 2020 Supplement: Paths Diverge in Recovery from the Pandemic

According to the report, the overall forecast for Developing Asia (46 ADB member economies across Asia and the Pacific) is a contraction of 0.4% in 2020, less than the 0.7% envisaged in September. Growth will rebound to 6.8% in 2021, but output will remain below what was envisioned before the pandemic.

Projected 2020 growth in East Asia is upgraded from 1.3% to 1.6%. Growth in 2021 is still forecast at 7.0%. The earlier South Asia forecast of 6.8% contraction in 2020 is upgraded to 6.1%, and growth of 7.2% is expected in 2021. In Southeast Asia, contraction of 4.4% is now expected in 2020 (previously 3.8%), and growth in 2021 is anticipated at 5.2% instead of 5.5%. Central Asia is still projected to contract by 2.1% this year, and the Pacific economies by 6.1%.

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