IMF Cuts Asia-Pacific Economic Growth Projection for 2020 to -2.2%

Andrea Lidwina 22/10/2020 17:49 WIB

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The IMF projects the Asia-Pacific economy to contract by up to 2.2% in 2020 compared to the previous year. This figure is worse than the April 2020 prediction of 0%.

IMF's Revised Projection of Asia-Pacific Economic Growth

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IMF Cuts Asia-Pacific Economic Growth Projection for 2020 to -2.2%

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IMF's Revised Projection of Asia-Pacific Economic Growth

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The International Monetary Fund (IMF) projects the Asia-Pacific economy to contract by 2.2% in 2020 year-on-year (yoy). This figure is worse than the April 2020 prediction of 0%.

Developing economies are expected to grow by -1.7%, while advanced economies will fall further to -4.2%. The economies of small Pacific states are projected to contract by 7.5%.

The Asia-Pacific economy is expected to recover in 2021 with growth of 6.9%. However, this projection is also lowered from 7.6% in April 2020.

Editor : Muhammad Ahsan Ridhoi

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."