Malaysia’s economic growth falls to 10-year low
Malaysia’s annual gross domestic product (GDP) growth reached only 4.3 percent in 2019— the lowest level in the last decade.
Malaysia’s annual GDP growth reaches only 4.3 percent in 2019 (Photo: themalaysianreserve)Hanoi (VNA) - Malaysia’s annual gross domestic product (GDP) growth reached only 4.3 percent in 2019— the lowest level in the last decade.
The Malaysian central bank said in a report on February 12 that weaker exports as well as slower domestic consumption resulted in the country’s economic downturn.
In the fourth quarter of the year, Malaysia’s GDP slowed to 3.6 percent, making the country’s yearly economic growth to decrease 0.3 percent compared to 2018.
The report also noted that Malaysia’s economic growth in 2019 was driven by household spending, the realisation of approved private investment projects, and higher public sector capital spending.
However, the bank noted the downturn risks due to unfinished trade negotiations, geopolitical risks, as well as domestic factors such as weak business and delay of projects./.
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