World Bank has released a report titled “South Asia Economic Focus”. The report forecasts a sharp economic fall in each of the region’s eight countries. The cause of the sharp economic fall have been stated as the halting economic activity, collapsing trade as well as greater stress in the financial and banking sectors which is a result of COVID-19 outbreak. The report states that the regional growth will get dropped to a range between 1.8% and 2.8% in 2020, down from 6.3% that was projected 6 months ago.
Click Here To Get Test Series For SBI PO 2020
According to the report, Maldives is expected to be the worst hit nation along with Sri Lanka, Pakistan and Afghanistan. In the above listed countries, the full range of forecast is in negative territory. India’s economy has been expected to grow at 1.5% to 2.8% in the fiscal year 2020-2021.
Important takeaways for all competitive exams:
World Basketball Day 2025 highlights the remarkable journey of basketball from a simple indoor game…
The United Nations marked the second World Meditation Day on the 21st December with a…
The Winter Solstice 2025 occurs on Sunday, December 21 marking the shortest day and longest…
The Haryana State Assembly has unanimously passed a resolution to mark the 350th martyrdom year…
Every country has something special that makes it famous around the world. Some are known…
The United States and Jordan have carried out a major military operation in Syria called…