World Bank: Malaysian economy to recover this year


Its Macroeconomics, Trade and Investment Global Practice lead economist, Richard Record, (pic) said the group expects the vaccine deployment can be mostly completed in 2021 in most economies, leading to strong recovery and demand, as well as boosting trade and commodity prices.

KUALA LUMPUR: Malaysia’s economy is expected to return to positive growth this year, along with other economies globally on the sustained progress in the vaccine rollouts that will boost consumption worldwide, the World Bank Group said.

Its Macroeconomics, Trade and Investment Global Practice lead economist, Richard Record, said the group expects the vaccine deployment can be mostly completed in 2021 in most economies, leading to strong recovery and demand, as well as boosting trade and commodity prices.

“We are projecting a global growth of 4.0% this year.

“As for Malaysia, we project economic growth this year to range between 5.6 and 6.7%, ” he said during the virtual 2021 Malaysia’s Economic and Strategic Outlook Forum (MESOF) titled: “The Post-Covid-19 New Normal - Where Do We Go From Here” yesterday.

MESOF is organised by KSI Strategic Institute for Asia Pacific and co-organised by the Malaysian International Chambers Of Commerce & Industry and Economic Club of Kuala Lumpur. — Bernama

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Economy , KSI , growth , GDP , COVID-19 , inflation , vaccine

   

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