Malaysia will lower its economic growth outlook for this year to about 4 percent due to movement restrictions against COVID-19, said the country’s Finance Minister Tengku Zafrul Abdul Aziz. (Photo: The Star) Kuala Lumpur (VNA) - Malaysia will lower its economic growth outlook for this year to about 4 percent due to movement restrictions against COVID-19, the country’s Finance Minister Tengku Zafrul Abdul Aziz.
While there’s optimism that the current surge in cases can be contained and lockdown measures will be eased, the government still expects to lower its gross domestic product estimate for 2021, he said in an interview with Bloomberg TV on July 12.
The Malaysian government will considering revising the outlook, currently at 6-7.5 percent, next month, said Tengku Zafrul, who was appointed last week as coordinating minister for the nation’s National Recovery Plan.
He also forecast that his country’s budget deficit may increase to 6.5-7 percent from the previously projected 6 percent.
He said he would propose the parliament raise the debt ceiling to 65 percent of the GDP from 60 percent currently in order to have enough liquidity in the market for the government to borrow to fund stimulus packages./.
While there’s optimism that the current surge in cases can be contained and lockdown measures will be eased, the government still expects to lower its gross domestic product estimate for 2021, he said in an interview with Bloomberg TV on July 12.
The Malaysian government will considering revising the outlook, currently at 6-7.5 percent, next month, said Tengku Zafrul, who was appointed last week as coordinating minister for the nation’s National Recovery Plan.
He also forecast that his country’s budget deficit may increase to 6.5-7 percent from the previously projected 6 percent.
He said he would propose the parliament raise the debt ceiling to 65 percent of the GDP from 60 percent currently in order to have enough liquidity in the market for the government to borrow to fund stimulus packages./.
VNA
