The Asian Development Bank (ADB) said on Friday the coronavirus outbreak is set to trim economic growth in developing Asia and around the world this year.
The outbreak could slash global gross domestic product by 0.1 to 0.4%, with financial losses forecast to reach between $77 billion and $347 billion, the Manila-based lender said.
Economic growth in China and developing Asia, excluding China, could be trimmed by 0.3 to 1.7% and 0.2 to 0.5%, respectively, the ADB said in an analysis that outlined best- and worst-case scenarios.
The ADB said the coronavirus outbreak could lead to sharp declines in domestic demand, tourism and business travel, trade and production linkages, supply disruptions, hurting growth in developing Asia.
Reference: Reuters
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