KAS Japan COVID-19 Weekly Updates

von Cristita Marie Perez

Updated IMF projections; bigger economic contraction than anticipated

The IMF provided downward revisions to their earlier estimates as COVID-19 has had a more negative impact in the first half of the year as anticipated.


Key messages include:

  1. The IMF projects that global growth will be at –4.9% in 2020, 1.9 percentage points below the April 2020 World Economic Outlook (WEO) forecast. 
  2. Recovery is also projected to be slower and more gradual. Global growth in 2021 is projected at 5.4%, lower by  6.5 percentage points than the pre-COVID-19 projections released last January 2020.
  3. For Japan, growth will be at -5.8%. For emerging and developing Asia, only China will experience positive growth at 1 percent while growth for the ASEAN-5 and India will be at -2.0 percent and -4.5% respectively.
  4. Key policy interventions are necessary to cushion the economic fallout.



Cristita Marie Perez

Cristita Marie Perez KAS

Managerin des Regionalprogramms Soziale Ordnungspolitik Asien (SOPAS) +81 3 6426 5041