Developing Asia’s Economic Outlook: Asian Development Outlook (ADO) 2020

Video | 3 April 2020

Regional economic growth in developing Asia will decline sharply to 2.2% in 2020 due to the effects of the novel coronavirus (COVID-19) pandemic, before recovering in 2021, according to the Asian Development Outlook (ADO) 2020, the Asian Development Bank’s (ADB) annual flagship economic publication.

The report forecasts a downward revision of 3.3 percentage points relative to the 5.5% ADB had forecast in September 2019. Growth is expected to rebound to 6.2% in 2021, assuming that the outbreak ends and activity normalizes.

Transcript

The COVID-19 pandemic is hurting developing Asia’s economies.

Growth will slow sharply, then rebound.

Trade, consumption, and investment will suffer.

Downside risks are substantial.

Economies in all subregions will suffer, then recover.

People’s Republic of China growth forecast.

India’s growth forecast.

Costlier food will push up inflation.