The Asian Development Bank (ADB) improved its forecasts for economic growth in developing Asia from 0.7 to 0.4 percent in 2020, Trend reports citing the ADB report.
Economic activity in developing countries of Asia will decrease by 0.4 percent this year, and in 2021 will grow by 6.8 percent, due to the gradual overcoming of the consequences of the coronavirus pandemic.
“The inflation forecast for the countries of the Asian region was lowered from 2.9 to 2.8 percent. In particular, inflation in Central Asia has been revised downward - from 8.3 to 7.8 percent in 2020 and from 6.6 to 6.5 percent in 2021. These projections are also assigned for Azerbaijan, Georgia, Tajikistan and Turkmenistan,” the report reads.
In September this year, the Asian Development Bank predicted a decline in the consumer price index by 0.7 percent by the end of the year.
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