Lowered forecast: Pikom chairman Chin Chee Seong (left) and research committee chair, Woon Tai Hai at the media briefing for Pikom's ICT Strategic Review 2016-2017.
The National ICT Association of Malaysia (Pikom) has revised its forecast of the country’s Gross Domestic Product (GDP) growth for 2016 and 2017.
Pikom in its last report, had predicted the GDP growth to be 4.5% but since then, due to the depreciation of the ringgit against the US dollar, the unexpected outcome of the Brexit vote, and the United States presidential election results has seen Pikom revise the GDP growth forecast to 4.2% in 2016 and 4.0% in 2017.
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