World Bank cuts Malaysia’s GDP forecast to 3.9%

KUALA LUMPUR: The World Bank has lowered its forecast for Malaysia’s gross domestic product (GDP) growth and is now expecting a moderate 3.9% expansion in 2023, down from the previous estimate of 4.3% in April 2023.

World Bank lead economist for Malaysia Apurva Sanghi attributed the downward projection to the base effects of high growth last year and weak external demand, reflected in the exports numbers for the first two quarters.