Home  Contact Us
  Follow Us On:
 
Search:
Advertising Advertising Free Newsletter Free E-Newsletter
NEWS

Asia Expected to See 0% Growth in 2020
Published on: 2020-04-17
Share to
User Rating: / 0
PoorBest 

Workers at the construction site of an expressway in Anshun Guizhou ProvinceWorkers at the construction site of an expressway in Anshun, Guizhou Province

Growth in Asia is expected to stall at zero percent in 2020 due to the COVID-19 pandemic, the lowest growth since the 1960s, the International Monetary Fund said on Wednesday.

"This is a crisis like no other. It is worse than the Global Financial Crisis, and Asia is not immune," Chang Yong Rhee, director of the IMF's Asia and Pacific Department, said at a virtual press conference Wednesday night.

The region's growth prospect for 2020 is the worst in almost 60 years, including during the Global Financial Crisis (4.7 percent) and the Asian Financial Crisis (1.3 percent), Rhee said.

"That said, Asia still looks to fare better than other regions in terms of activity," he noted. According to the IMF's new World Economic Outlook report released on Tuesday, the global economy is on track to contract "sharply" by 3 percent in 2020.

coThe latest WEO report showed that advanced economies will contract significantly by 6.1 percent in 2020, and emerging market and developing economies, which typically have growth levels well above advanced economies, will shrink by 1 percent.

Despite overall negative growth, the IMF projects 1-percent growth for emerging and developing Asia. China and India will both see moderate growth this year, with a rate of 1.2 percent and 1.9 percent respectively.

"Prospects for 2021, while highly uncertain, are for strong growth," Rhee told reporters. "If containment measures work, and with substantial policy stimulus to reduce 'scarring,' growth in Asia is expected to rebound strongly — more so than during the Global Financial Crisis."

a community police officer tells a foreign resident about measures against the coronavirusAn automatic container dock in Qingdao, east China's Shandong Province

国际货币基金组织:预测今年亚洲经济零增长

国际货币基金组织(IMF)15日表示,受新冠疫情影响,今年亚洲经济预计出现零增长。这是该地区上世纪60年代以来的最差经济增长表现。

IMF亚太部主任李昌镛当天在视频发布会上表示,疫情是一场前所未有的危机,虽然亚洲的经济活动状况比其他地方要好一些,但也将陷入停滞。最新增速预期远低于十余年前全球金融危机期间4.7%的增长率,也低于上世纪90年代末亚洲金融危机期间1.3%的增长率。

IMF14日发布的《世界经济展望报告》预计,由于疫情冲击,今年全球经济将萎缩3%,为上世纪30年代大萧条以来最糟糕的经济衰退。发达经济体将萎缩6.1%,新兴市场和发展中经济体将萎缩1%,主要经济体中仅中国和印度有望保持增长。

李昌镛表示,IMF目前预计2021年亚洲经济将实现强劲增长。如果疫情得到有效遏制,加上大量经济刺激政策措施落地,明年亚洲经济反弹力度将比全球金融危机之后的反弹更为强劲。不过,他提醒说,亚洲经济前景还存在高度不确定性,恢复情况很大程度上将取决于疫情形势变化和政策应对效果。

李昌镛说,IMF一直与亚洲地区各经济体保持联系,提供应对疫情相关建议和援助。目前,该地区已有多国表示希望利用IMF的紧急融资工具应对疫情。

Comments (0)Add Comment

Write comment

security code
Write the displayed characters


busy
    Subscription    |     Advertising    |     Contact Us    |
Address: Magnetic Plaza, Building A4, 6th Floor, Binshui Xi Dao.
Nankai District. 300381 TIANJIN. PR CHINA
Tel: +86 22 23917700
E-mail: webmaster@businesstianjin.com
Copyright 2024 BusinessTianjin.com. All rights reserved.