COVID-19 darkens Malaysia’s 2021 economic outlook
Kuala Lumpur (VNA) – Malaysia’s central bank
(BNM) has revised down the country’s 2021 GDP growth forecast to between 3 – 4
percent from the previous 6 – 7.5 percent as the prolonged COVID-19 nationwide
lockdown continues to weigh heavily on the economy.
The lowered outlook was made despite the economy posted a
year-on-year GDP growth of 16.1 percent in the second quarter of this year
after nosediving 17.1 percent in the same period last year.
The Q2 figure was also higher than the initial 14.3 percent
forecast.
Malaysia’s GDP growth reached 7.8 percent in the first half
of the year.
Economic performance was adversely impacted following the
implementation of the full movement control order (FMCO) in June, said BNM governor
Nor Shamsiah Yunus, adding that the near-term outlook will be dependent on pandemic-related
risk factors.
With a faster vaccination rate, Malaysia’s GDP growth could
exceed 4 percent at the end of this year./.