Global challenges to weaken growth

Shan Saeed said the global economy is facing numerous headwinds, like equity market meltdown and “bazooka” in the debt market.

PETALING JAYA: Although economic experts are forecasting the gross domestic product (GDP) to grow by a decent 4% to 5.5% this year, they say global headwinds could potentially suppress corporate Malaysia’s economy.

Domestic demand would continue to hold the fort and be the main driver of the nation’s economy. However, the global economic slowdown anticipated this year could affect local private consumption growth.