Malaysia to cut 2021 GDP growth outlook, possibly close to 4%

Soldiers putting up barbed wire at PPR Sri Rakyat in Bandar Bukit Jalil in Kuala Lumpur. The apartment is under the enhanced movement control order until July 24. An estimated 5,500 residents live here and 160 have tested positive for Covid-19. — S.S.Kanesan/The Star

KUALA LUMPUR: Malaysia will downgrade its economic growth outlook this year, according to the country’s finance minister, signaling that it could see expansion around 4%.

While there is optimism the spread of Covid-19 can be contained and lockdowns can be eased, the government still expects to lower its gross domestic product outlook for this year, Finance Minister Tengku Zafrul Abdul Aziz said in an interview with Bloomberg TV’s Sophie Kamaruddin on Monday.