About $2.5 trillion – that’s how much Asia’s developing economies have spent so far to combat the health and economic impacts of the COVID-19 pandemic.
On average they have outlaid the equivalent of 27 per cent of their GDP, about the same as Asia’s developed economies when you add up government spending, tax cuts and central bank initiatives.
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Adam Triggs is director of research of the Asian Bureau of Economic Research at the Crawford School of Public Policy, The Australian National University, and a non-resident fellow in the Global Economy and Development program, Brookings Institution. Connect with Adam on Twitter.
