South Asia’s largest economy has been useless in eliminating the coronavirus epidemic and this will be evident in its economic performance: India is on the brink of falling regional peers in the race for recovery.
The relative good fortune of Pakistan, Sri Lanka and Bangladesh in controlling the virus will help their economies faster than India, Capital Economics Ltd said. in a visitor relationship. India is now one of the world’s virus outbreaks, with around 5. 5 million cases.
“The new capital-consistent instances in these three economies are much lower than in India,” said Shilan Shah, senior economist at Capital Economics in Singapore. “This allowed for a faster uptick in activity. “
As a result, the decline in gross domestic product by 2020 will be much less severe in Bangladesh, Pakistan and Sri Lanka, while India is expected to show a double-digit decline.
Read also: Why is India worse than its neighbors?
While consistent with india’s capita rate than in its neighbors, the consistent percentage of tests that tested positive has declined in the 3 neighboring economies, suggesting genuine progress in virus control, according to Our World in Data figures produced through The University of Oxford and Global. Change data lab.
Read also: Asian nations outpervis India Covid
“Whatever the reasons, the economic point is that the low prevalence of instances means that containment measures have been reduced at a faster rate than in India,” Shah said.
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