MANILA, PHILIPPINES (10 December 2020) — Economic activity in developing Asia is forecast to contract by 0.4% this year, before picking up to 6.8% in 2021 as the region moves toward recovery from the effects of the coronavirus disease (COVID-19) pandemic, according to a report released by the Asian Development Bank (ADB) today.

The new growth forecast, presented in a regular supplement to the Asian Development Outlook (ADO) 2020 Update, is an improvement from the -0.7% gross domestic product (GDP) growth forecast in September, while the outlook for 2021 remains unchanged. But prospects are diverging within the region, with East Asia set to grow this year while other subregions are contracting.

https://www.adb.org/news/developing-asia-contract-2020-grow-2021