KAS Japan COVID-19 Weekly Updates - Foundation Office Japan / Regional Economic Programme Asia (SOPAS)
Key messages include:
- 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.
- 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.
- 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.
- Key policy interventions are necessary to cushion the economic fallout.
