The global pandemic of the Corona virus is facing the dire situation that has plagued the world economy. The result is projected to be extremely frightening for the coming days. The World Bank has said the South Asian country is likely to suffer the most severe economic downturn in the past forty years due to the Corona virus. In eight countries in South Asia, about a quarter of the world is living. According to the World Bank, these countries can have growth rates ranging from 1.5 to 2.8.5 per cent. Just six months ago, the World Organization had predicted economic growth in these countries at 6.3 percent. India’s economic growth rate is expected to be 1.5 percent to 2.8 percent. Apart from India, Sri Lanka, Nepal, Bhutan and Bangladesh are also expected to witness a sharp decline in economic growth. Pakistan, Afghanistan and the Maldives are also expected to suffer economic downturns. The Corona pandemic is sure.
The World Bank on Sunday warned that the South Asia could lose the benefits of poverty alleviation due to the Corona epidemic. The government of the region has said that in order to combat this catastrophic situation, special attention should be given to the protection of the poorest of the poor and the road to economic recovery is to be expedited. The Corona pandemic is sure.
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