WASHINGTON, 31 March 2020 – The coronavirus pandemic is expected to sharply slow growth in developing economies in East Asia and the Pacific as well as China, the World Bank said in an economic update on Monday.
The World Bank said precise growth forecasts were difficult, given the rapidly changing situation, but its baseline now called for growth in developing economies in the region to slow to 2.1% in 2020, and to -0.5% in a lower case scenario, compared to estimated growth of 5.8% in 2019.
In China, where the COVID-19 outbreak originated in late December, growth was projected to slow to 2.3% in the baseline scenario, or as low as 0.1% in the lower case scenario, compared to growth of 6.1% in 2019.
For more updates on COVID-19 around the world, please visit the World Health Organization’s website.
– Reuters
Read more: Private Trust: Protecting Your Loved Ones and Assets
Discussion about this post