KUALA LUMPUR, June 18 ― The Malaysian economy is expected to contract by 4.0 per cent this year before recovering to grow by 6.5 per cent in 2021, the Asian Development Bank (ADB) said. In its Asian Development Outlook Supplement released today, the ADB said the country’s external demand is...
The Asian Development Bank says the Malaysian economy is expected to contract by 4.0 per cent this year before recovering to grow by 6.5 per cent in 2021. — Picture by Choo Choy May
Nevertheless, it noted that consumption remained as a bright spot in the economy, growing by 6.5 per cent as stronger public consumption offsetted weaker private consumption. “The more open economies of Malaysia, Singapore, Thailand, and Vietnam were hit by slumping global trade and demand.
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