Moody’s slashes Malaysia’s 2020 GDP growth forecast to 3% on risks

“The combination of weaker global growth and heightened containment measures related to the coronavirus outbreak, as well as a recent sharp drop in oil prices, have prompted us to further lower our GDP growth forecasts for much of Asia Pacific in 2020 – even assuming a recovery in the second half of the year, ” it said in a report yesterday.

PETALING JAYA: Moody’s Investors Service has revised downwards its gross domestic product (GDP) growth forecast for Malaysia to 3.0% in 2020, and 4.7% in 2021, in view of current risks.

Last month, it had said the country’s 2020 real GDP growth should slow to 4.2% from the 10-year low of 4.3% in 2019.