World Bank follows IMF in cutting Malaysia's GDP to 4.7%

(from left) The World Bank country director for Brunei, Malaysia, Philippines and Thailand Mara Warwick, Deputy Health Minister Dr Lee Boon Chye, Economic Affairs Ministry secretary-general Datuk Saiful Anuar Lebai Hussen, the World Bank group representative to Malaysia and country manager Firas Raad and the Economic Affairs Ministry deputy secretary general of policy Datuk Dr Noor Zari Hamat during the launch of the 19th Malaysia Economic Monitor.

KUALA LUMPUR: Barely a week after the International Monetary Fund slashed Malaysia’s economic growth forecast for 2018 to 4.7%, the World Bank has followed suit by cutting the country’s growth forecast for the second time this year.

In the 19th edition of the Malaysia Economic Monitor, the multilateral agency trimmed the 2018 gross domestic product (GDP) forecast to 4.7%, bringing the projection slightly lower than the Finance Ministry’s official guidance of 4.8%.