- World Bank in its April 2020 Economic Update for East Asia and Pacific (EAP)titled “East Asia and Pacific in the Time of COVID-19” has stated that if the economic situation become worsenfurtherduetoCOVID19consequencesthen the poverty is estimated to increase by about 11 million people in the EAP region.
- The update has projected slow growth in the developing EAP region to 2.1% from an estimated 5.8% in 2019. Growth in China is also projected to decline to 2.3% from 6.1% in 2019.
- If the uncertainty of COVID-19 were not arisen then under the baseline growth scenario, nearly 35 million people would have escaped across the EAP region in 2020.
