Developing Asian economies to contract less than expected: ADB

Economic activity in developing Asia is forecast to contract by 0.4 percent this year, an improvement from the -0.7 percent gross domestic product (GDP) growth forecast in September, according to a report released by the Asian Development Bank (ADB). Illustrative photo (Source: VNA) Hanoi (VNA) – Economic activity in developing Asian economies is forecast to contract by 0.4 percent this year, an improvement from the -0.7 percent gross domestic product ( GDP ) growth forecast in September, according to a report released by the Asian Development Bank (ADB). The outlook for 2021 remains unchanged, with the regionࢀ™s growth projected to…