The coronavirus (COVID-19) outbreak could cost Pakistan’s economy between $16.387 million to $4.95 billion, or 0.01 to 1.57 percent of the gross domestic product (GDP), said the Asian Development Bank (ADB).
ADB released a study “COVID-19 Outbreak to Have Significant Economic Impact on Developing Asia” yesterday, where it mentioned several scenarios such as best case, moderate case, worse-case and the hypothetical worst-case to assess the impact of COVID-19 on various developing countries in Asia.
COVID-19’s impact is categorized on different sectors including agriculture, mining and quarrying, business, trade, personal, and public services, hotels and restaurants, and other personal services, light/heavy manufacturing, utilities, and construction and transport services.
The magnitude of the economic losses will depend on how the outbreak evolves, which remains highly uncertain. The range of scenarios explored in the analysis suggests a global impact in the range of $77 billion to $347 billion, or 0.1 percent to 0.4 percent of global GDP.
Source: Pro Pakistani