NOTE: economic forecasts have since been updated: see the Asian Development Outlook (ADO) series
The threat of a prolonged COVID-19 pandemic is the main risk to the outlook. A return to more stringent containment measures could slow or even derail recovery and possibly trigger financial turmoil. While economies in developing Asia remain resilient, continued policy support is needed to underpin recovery.
Developing Asia’s Economic Outlook September 2020
The continuing COVID-19 outbreak has hit developing Asia’s economies very hard.
Developing Asia will contract for the first time in six decades.
Trade, consumption, and investment have taken a beating.
The path to recovery remains precarious.
Most economies in the regions will contract
- Central Asia - 4.3%
- East Asia - 5.4%
- South Asia - 6.7%
- Southeast Asia - 4.7%
- Pacific - 2.6%
before recovering in 2021.
People’s Republic of China growth forecast
- 2018- 6.6%
- 2019 - 6.2%
- 2020 - 6.0%
India growth forecast
- 2018- 6.8%
- 2019 - 6.5%
- 2020 - 7.2%
Weak demand will keep inflation subdued.
- 2018- 2.4%
- 2019 - 2.8%
- 2020 - 2.8%
- 2020 - 3.1%