S. Asian economies recover amid uncertainties – World Bank
Washington — South Asia’s recovery continues as global demand rebounded and targeted containment measures helped minimise the economic impacts of the recent waves of Covid-19.
But the recovery remains fragile and uneven, and most countries are far from pre-pandemic trend levels, says the World Bank in its twice-yearly regional update.
The latest South Asia Economic Focus titled ’Shifting Gears: Digitisation and Services-Led Development’ projects the region to grow by 7.1 percent in 2021 and 2022. While the year-on-year growth remains strong in the region, albeit from a very low base in 2020, the recovery has been uneven across countries and sectors. South Asia’s average annual growth is forecast to be 3.4 percent over 2020-23, which is 3 percentage points less than it was in the four years preceding the pandemic. India’s economy, South Asia’s largest, is expected to grow by 8.3 percent in the fiscal year 2021-22, aided…
