World Bank expects Malaysia’s GDP to grow 4.6pc | Malay Mail

World Bank lead economist Richard Record speaks to reporters after the launch conference of the 12th Malaysia Plan 2021-2025, at the Putrajaya Marriott Hotel July 1, 2019. — Picture by Choo Choy May

Lead economist in macroeconomics, trade and investment Richard Record said the GDP was 0.1 percentage points lower than in the previous forecast, reflecting weaker than expected investment and export activity observed in the first quarter 2019.“Potential risks to growth include those related to escalating trade tensions, a sharper than expected slowdown in major economies, as well as volatility in the financial and commodity markets.

He said, while private consumption is expected to continue to support domestic demand, its growth is projected to decelerate to 6.6 per cent this year.“In the public sector, the continued rationalisation of government expenditure will continue to weigh on its contribution, with the growth rate projected to stand at 1.8 per cent for the year,” Record said.

The report said, it was particularly important to rebuild fiscal policy buffers, facilitate private investment and ensure adequate social protection for low income and vulnerable households.

Source: News Formal (newsformal.com)

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