Slower GDP growth over next four to six months.
KUALA LUMPUR: The World Bank slashed Malaysia’s 2018 economic growth projection for the second time this year, bringing the forecast slightly lower than the Finance Ministry’s official guidance of 4.8%.
The government’s declining expenditure as well as lower public and private investments have led the World bank to cut its gross domestic product (GDP) forecast in 2018 to 4.7%, down from 4.9% as stated in October this year.
Earlier in July, the bank expected the country’s economy to grow by 5.4% this year.
According to the World Bank country director for Brunei, Malaysia, Philippines and Thailand, Mara Warwick, the Malaysian economy remains resilient even though growth has continued to moderate.
The government’s declining expenditure as well as lower public and private investments have led the World bank to cut its gross domestic product (GDP) forecast in 2018 to 4.7%, down from 4.9% as stated in October this year.
Earlier in July, the bank expected the country’s economy to grow by 5.4% this year.
According to the World Bank country director for Brunei, Malaysia, Philippines and Thailand, Mara Warwick, the Malaysian economy remains resilient even though growth has continued to moderate.
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