World Bank cuts 2021 GDP projection to 4.5%

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KUALA LUMPUR: The sudden surge in Covid-19 cases over the past months and the movement restrictions that were reintroduced are expected to weigh on Malaysia’s economy, slowing the recovery compared with what was initially expected.

Against this backdrop, the World Bank has lowered its projection on Malaysia’s economic growth by 1.5 percentage points to 4.5% in 2021 from an earlier forecast of 6%.