Fitch Solutions lowers Malaysia GDP outlook to 4.9%

Fitch Solutions halved its real GDP outlook for Malaysia to 4.9% from 10% previously due to the latest Covid-19 outbreak and the lockdown measures taken to curb it.

KUALA LUMPUR: Fitch Solutions halved its real GDP outlook for Malaysia to 4.9% from 10% previously due to the latest Covid-19 outbreak and the lockdown measures taken to curb it.

It said on Monday it expects the lockdown to result in a resurgence in unemployment, which would significantly dim the prospects for a recovery in domestic demand.