Introduction:
- The Asian Development Bank (ADB) has released the December edition of the Asian Development Outlook 2020. The report has provided details about the latest economic forecasts of the countries in the Asia-Pacific regions. The previous forecast was released in September 2020.
Region Specific Findings:
- The overall forecast of all the 46 member nations of the ADB shows a contraction of 0.4% in 2020, as compared to 0.7% in September 2020 forecasts.
- Economic growth for the year 2021 is projected to be 6.8%.
- East Asia growth projections have been increased to 1.6% in December 2020, as compared to 1.3% in the previous projection.
- East Asia growth in 2021 is projected at 7.0%
- The GDP of China would grow by 2.1% in 2020 and 7.7% in 2021.
- South Asia would contract by 6.1% in 2020, as compared to 6.8% shrink in the previous projection.
- South Asia would grow by 7.2% in 2021.
- Southeast Asia would contract by 4.4% in 2020 and 5.2% in 2021.
- Central Asia would contract by 2.1% in 2020.
- Pacific nations would contract by 6.1% in 2020.
- Inflation is projected at 2.8% in 2020 and 1.9% in 2021.
India- Specific Findings:
- India’s GDP contracted by 8.0% in 2020, as compared to 9.0% in the earlier forecast.
- India’s GDP would increase by 8.0% in 2021.
- India’s inflation is projected at 5.8% in 2020 and 4.0% in 2021.
Questions:
Q: 1. Which organization releases Asian Development Outlook 2020?a. NDB
b. ADB
c. World Bank
d. RBI
e. None of the Above.
Answer: b
Explanation: Asian Development Outlook 2020 was released by ADB.
Q: 2. According to the Asian Development Outlook 2020, India’s GDP would grow by how much percentage in 2021?
a. 7.3%
b. 7.2%
c. 8.2%
d. 8.0%
e. 9.0%
Answer: d
Explanation: According to the Asian Development Outlook 2020, India’s GDP would grow by 8.0% in 2021.
