Malaysian economy to shrink 4%, says ADB
A man rides the escalator at a largely empty KL Sentral. ADB says weak consumer confidence may hinder economic recovery, while external demand is expected to remain muted for the rest of this year as the global economy contracts. – The Malaysian Insight file pic, June 18, 2020.
THE Malaysian economy is expected to contract by 4% this year before recovering to grow by 6.5% in 2021, the Asian Development Bank said. In its Asian Development Outlook Supplement released today, ADB said the country’s external demand is likely to be weak as trade partners continue to grapple with the effects of Covid-19.
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