“Macroeconomic forecasts will be fluid, critically depending on the evolving Covid-19 pandemic and public health policies, but Bank Negara maintains its GDP trajectory of economic recession in 2020 and recovery in 2021. “We expect the economy to shrink 3.3% this year, ” Maybank IB Research said in a note yesterday.
PETALING JAYA: Bank Negara has kept its 2020 economic growth forecast for Malaysia unchanged, even though experts think that the economy will be hit further as a result of the recent two-week extension of the Movement Control Order (MCO).
Following an engagement session with the central bank on April 15, Maybank IB Research said that official real gross domestic product (GDP) growth forecast announced on April 3 remains at -2% to 0.5% for now.
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