Coronavirus will knock almost 4 percentage points off gross domestic product growth in emerging Asian economies this year in a best-case scenario and risks pushing the region into recession, the World Bank has warned.
The disease will exact a heavy human cost and could force up to 11m people into poverty, the bank said in a report on Tuesday.
In an unusually bleak update of its regular survey of developing Asia-Pacific economies, the Washington-based institution said that Asian countries “now face the prospect of a global financial shock and recession”.
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