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Asian Development Outlook 2021
May 10 , 2021
1207 days
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- The Asian Development Outlook 2021 is a report released by the Asian Development Bank (ADB).
- The report said the 45 economies that excluded Japan, Australia and New Zealand, were to grow 7.3% this year, supported by a healthy global recovery and early progress on COVID-19 vaccines.
- The pandemic was the biggest threat to Asia and the Pacific (including India), mainly due to delay in vaccine rollouts or major new outbreaks.
- Average inflation in the region was forecast to fall to 2.3% in 2021, from 2.8% in 2020.
- While east and south Asia forecast were to see the strongest growth, the central and Southeast Asia and the Pacific were to see more moderate growth.
- The report said that the ongoing ‘second wave’ COVID-19 pandemic could put India’s economic recovery at risk.
- It said that excluding the second wave, India’s economy was expected to grow 11% in fiscal year 2021-2022, amid a strong vaccine drive.
- India’s GDP was expected to expand 7% in 2022.
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