Malaysia to cut GDP growth outlook to about 4%
KUALA LUMPUR: Malaysia will downgrade its economic growth outlook this year, according to the finance minister, signalling that it could see expansion around 4%. While there is optimism that the spread of Covid-19 can be contained and lockdowns can be eased, the government still expects to lower its gross domestic…
KUALA LUMPUR: Malaysia will downgrade its economic growth outlook this year, according to the finance minister, signalling that it could see expansion around 4%.
While there is optimism that the spread of Covid-19 can be contained and lockdowns can be eased, the government still expects to lower its gross domestic product outlook for this year, finance minister Tengku Zafrul Abdul Aziz said in an interview with Bloomberg TV’s Sophie Kamaruddin today.
Asked if it could be lowered to around 4%, Tengku Zafrul responded “around the range you mentioned”. The government has already said it will revise its current 6%-7.5% outlook for 2021 in August.
The government is coming under increasing pressure as the pandemic crisis grinds on, with lockdowns hurting the economy and only about 10% of the population fully vaccinated, while Umno has formally withdrawn support for the prime minister.
Tengku Zafrul was appointed last week as the coordinating minister for the national recovery plan, responsible for monitoring the implementation of strategy, including intervention measures. — Free Malaysia Today