KUALA LUMPUR: Following the rapid spread of Covid-19 and the heightened financial volatility, growth outlook for developing countries in the East Asia and the Pacific (EAP) region, including Malaysia, has been sharply downgraded as they face global financial shock and recession.
According to the World Bank, growth in the developing EAP region is expected to slow to 2.1% in the baseline and to a negative 0.5% in the lower-case scenario in 2020 from an estimated 5.8% in 2019.
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