World Bank revises Malaysia GDP forecast

KUALA LUMPUR: The World Bank has slashed its growth forecast for Malaysia from 2016 through 2018 due to the subdued global economy weighing on the country’s prospects.

In its latest forecasts, the global financial institution predicted Malaysia’s gross domestic product (GDP) would slow to 4.2% this year from 5% in 2015 because of the weak global demand for oil and manufactured exports. This contrasted with its April forecast of a 4.4% growth for the country for 2016.