a) 2.2%
b) 3.2%
c) 5.2%
d) None of these
The International Monetary Fund (IMF) has slashed its Economic Forecast for Asia. The IMF expects Asia’s Economy to contract 2.2% in 2020; the decline is 0.6 of a percentage point larger than its forecast in June. The decline in economic growth is due to sharp slumps in countries like India, Philippines and Malaysia. Asia’s economy is expected to grow 6.9% in 2021 due to boost from strong recoveries in China, United States and European region.