Virus crisis to restrain Asia’s growth at lowest since 1967

29.09.2020 - Korneychuk Evgeniya
Virus crisis to restrain Asia’s growth at lowest since 1967

The coronavirus pandemic will likely drag Asian countries down to their lowest level of expansion in more than 50 years. Meanwhile, 38 million people are expected to succumb back to poverty, the World Bank warned on Monday.  

The bank foresees a 0.9% growth for the region this year, its lowest rate since 1967. China’s economy is predicted to record a 2% growth backed by government spending, upbeat exports, and easing coronavirus infections. However, slow domestic consumption might cap any progress.

To negate the economic and financial impact brought by the virus crisis, countries in the region may need to implement fiscal reform to stimulate revenue. Moreover, social protection programs seem like a viable means to bolster employment and nurse the economy back to health, the Washington, DC-based bank said.

Risk disclaimer "Market Solutions Ltd – Suite 305 Griffith Corporate Centre P.O. Box 1510 Beachmont, Kingstown, St Vincent and the Grenadines is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0128 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of Market solutions Ltd and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or Market Solutions limited." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue
×

Help with deposit?