Maybank IB Research expects 5.1% growth in 2021


PETALING JAYA: The Malaysian economy is expected to grow by 5.1% this year compared to last year’s 5.4% contraction as the country’s recession is shallowing amid the third wave of Covid-19.

Maybank Investment Bank Bhd chief economist Suhaimi Ilias said the forecast was conservative relative to the current official forecast of the smaller decline of 4.5% last year with the economy to grow between 6.5% to 7.5% in 2021.

“The third wave of Covid-19 which has caused a spike in cases will continue to be a downside factor, ” he said at a virtual talk. ─ Bernama

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