ADB sees developing Asia barely growing in 2020 due to pandemic

[MANILA] The Asian Development Bank (ADB) on Thursday slashed its growth forecast for developing Asia this year to 0.1 per cent from 2.2 per cent to reflect the impact of the lockdowns on economic activity due to the coronavirus pandemic.

The ADB kept its economic growth forecast for developing Asia for next year at 6.2 per cent.

Measures to contain the contagious flu-like virus have hammered economies in Asia, causing a freeze in domestic demand and the shuttering of businesses.

REUTERS