GDP may decline in the Asian region for the first time in sixty years

By: Trademagazin editor Date: 2020. 09. 16. 11:02

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For the first time in sixty years, the gross domestic product of the Asian region may decline this year, according to the forecast of the Asian Development Bank (ADB).

According to the bank’s revised Asian Development Outlook (ADO) forecast, the region’s gross domestic product (GDP) could fall 0.7 percent this year and grow 6.8 percent next year. In the previous version of its forecast, the ADB has revised downwards the 2.2 percent increase indicated for this year, but expects a larger increase next year than the 6.2 percent indicated therein. (MTI)