GDP growth at 3% to 4% this year

Governor of Bank Negara Malaysia Datuk Nor Shamsiah Mohd Yunus: “A faster vaccination rollout will lead to a sooner-than-expected reopening of the economy where all states can transition into phase four by September."

BANK Negara has revised downwards Malaysia’s 2021 gross domestic product (GDP) growth forecast to between 3% and 4%, as the prolonged nationwide lockdown and lingering uncertainties from the Covid-19 pandemic continue to weigh heavily on the economy.

Despite year-on-year GDP growth of 16.1% in the second quarter of this year, which was above forecasts, Bank Negara governor Datuk Nor Shamsiah Mohd Yunus says economic performance was adversely impacted following the implementation of the full movement control order (FMCO) in June.