Economy / FinanceAsia

World Bank: South Asia faces worst ever recession, tipping millions into poverty

0

115 Millions of people in South Asia are being pushed into extreme poverty as the region where a quarter of humanity lives suffers its worst-ever recession due to the devastating impact of the coronavirus pandemic, the World Bank said on Thursday. The multi-lateral lender forecast a record economic contraction of 7.7% for South Asia this year, and said workers in the informal sector were being hit hardest, and private consumption was unlikely to recover quickly from the blow. “The impact on livelihoods will even be larger than the GDP forecast suggests…This implies that the region will experience a sharp increase…

This content is for Q17 Membership members only.
Login Join Now
QNavy
QNavy is a pool a 3 former Navy Officers, U.S. Navy & French Navy, who served proudly their countries, specialized in conflict analysis as per their respective skills & experience on Special Ops. #NavyVetUnited

Restored Republic via a GCR as of Oct. 8, 2020

Previous article

Nagorno-Karabakh possible testing ground for future conflicts – Analysis.

Next article

You may also like

Comments

Comments are closed.