Malaysia growth seen as low as 2% on ‘triple whammy’ of troubles

Prime Minister Tan Sri Muhyiddin Yassin added cash handouts and electricity discounts to a RM20bil package to help cushion the impact of the Covid-19 fallout.

KUALA LUMPUR: Malaysia’s economy is set to grow at its slowest pace since the 2009 financial crisis as it struggles with a trio of troubles: coronavirus, oil-price crash and political upheaval.

Analysts from Fitch Ratings to United Overseas Bank Ltd now expect Malaysia’s economy to grow about 2% this year. That compares with the government’s estimate that gross domestic product will expand 3.6%-4%, which already accounts for the virus’s impact.

The central bank is set to release its annual report on the economy Wednesday, where it’s expected to revise its outlook.

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