Coronavirus could push 160 million more into poverty across Asia, ADB warns

India’s gross domestic product is forecast to fall by 9 per cent in 2020 and rise 8 per cent in 2021. Photo: Bloomberg The coronavirus pandemic and the containment measures required to combat it will push millions of people in Asia into absolute poverty and widen inequality within industries and countries in the Asia-Pacific region, according to the Asian Development Bank (ADB).

Asia has seen a dramatic decline in poverty as the proportion of the region’s gross domestic product (GDP) rose to one third of the global economy from a quarter over the past 15 years.

“We are likely to observe […]

Source: www.scmp.com

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