KUALA LUMPUR: The global economy could suffer between US$5.8 trillion and US$8.8 trillion in losses, equivalent to 6.4 per cent to 9.7 per cent of global gross domestic product as a result of COVID-19, according to a new report released by the Asian Development Bank (ADB).
The Updated Assessment of the Potential Economic Impact of COovid-19 report on Saturday (May 16) discovered that economic losses in Asia and the Pacific could range from US$1.7 trillion under a short containment scenario of three months to US$2.5 trillion under a long containment scenario of six months, with the region accounting for about 30 per cent of the overall decline in global output.
Already a subscriber? Log in.
Win a prize this Mother's Day by subscribing to our annual plan now! T&C applies.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
