Asian Development Outlook (ADO) 2020 Supplement: Paths Diverge in Recovery from the Pandemic
This publication provides updated economic forecasts for Asia and the Pacific. In South Asia, the earlier forecast of 6.8% contraction in 2020 is upgraded to 6.1%. Growth in South Asia is expected to return in 2021 at 7.2%. This is in line with improved prospects for India, where contraction is projected at 8.0% in 2020 and growth is projected at 8.0% in 2021. In Bangladesh, growth in exports and remittances backed economic activity. In Bhutan, the impact of the coronavirus disease (COVID-19) pandemic is expected to be greater than projected. Travel demand remains weak in Maldives and is hampering recovery. In Nepal, a persistent rise in COVID-19 infections holds back demand. Resurgent outbreaks in Sri Lanka’s export and tourist markets are expected to worsen contraction in 2020.
Author: Asian Development Bank
Tags: South Asia, India, Bhutan, Sri Lanka, Nepal, Bangladesh, Maldives, Tourism, COVID-19, Export