THE country’s beleaguered economy is expected to contract by 2.5% in the 2025/26 fiscal year largely due to the devastating impact of a powerful earthquake in late March, the World Bank said in a report.
The World Bank said yesterday that direct damages to property and infrastructure from the 7.7 magnitude quake were estimated at US$11bil (RM46.6bil), or 14% of the nation’s gross domestic product.
