June 18, 2020 / 2:03 AM / a month ago

ADB sees developing Asia barely growing in 2020 due to pandemic

MANILA, June 18 (Reuters) - The Asian Development Bank (ADB) on Thursday slashed its growth forecast for developing Asia this year to 0.1% from 2.2% to reflect the impact of the lockdowns on economic activity due to the coronavirus pandemic.

The ADB kept its economic growth forecast for developing Asia for next year at 6.2%.

Measures to contain the contagious flu-like virus have hammered economies in Asia, causing a freeze in domestic demand and the shuttering of businesses. (Reporting by Karen Lema Editing by Ed Davies)

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