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  Business   Economy  18 Jun 2020  ADB slashes 2020 growth forecast for developing Asia to 0.1% from 2.2%

ADB slashes 2020 growth forecast for developing Asia to 0.1% from 2.2%

REUTERS
Published : Jun 18, 2020, 9:29 am IST
Updated : Jun 18, 2020, 10:54 am IST

The ADB kept its economic growth forecast for developing Asia for next year at 6.2%

 Asian Development Bank (ADB) on Thursday slashed its growth forecast for developing Asia. (AFP Photo)
  Asian Development Bank (ADB) on Thursday slashed its growth forecast for developing Asia. (AFP Photo)

MANILA: The Asian Development Bank (ADB) on Thursday slashed its growth forecast for developing Asia this year to 0.1% from 2.2% 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%.

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

Tags: asian development bank (adb), growth forecast, asia, coronavirus lockdowns, economic activity, coronavirus pandemic