Asia’s growth to be slowest since 1967

The developing East Asia and Pacific region has been badly hit by the coronavirus pandemic, with growth in 2020 set to be the lowest in more than 50 years, according to the World Bank


BASELINE GDP GROWTH FORECASTS* 		2020 	2021 
% -8 -6 -4 -2 0 2 4 6 8
Developing East Asia and Pacific (EAP)	0.9	7.4
China					2.0	7.9
Developing EAP excl. China		-3.5	5.1
Indonesia				-1.6	4.4
Malaysia				-4.9	6.3
Philippines				-6.9	5.3
Thailand				-8.3	4.9
Vietnam					2.8	6.8
Cambodia 				-2.0	4.3
Laos 					-0.6   	4.9
Myanmar 				0.5   	5.9
Mongolia				-2.4	5.6
Papua New Guinea			-3.3	3.1
Timor-Leste				-6.8	3.2
 
Regional poverty
Up to 38 million more people expected to be living below poverty line of $5.50 per day due to pandemic 
  
*Baseline refers to scenario of severe growth slowdown followed by strong recovery


Source: World Bank staff estimates 
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