PROGRESS UPDATES
KUALA LUMPUR, Nov 30 (Bernama) —The volatile global economy, afflicted by the COVID-19 pandemic, has impelled most countries to implement assertive strategies to remain sturdy in economic well-being. Malaysia, as an open trading nation is not spared from the impact of the COVID-19 outbreak, more so on industrial productivity, supply chains and growth plans of many businesses. Bank Negara Malaysia predicts the 2020 GDP to be in the range of -3.5% and -5.5%. However, with the anticipated improvement in global growth and trade, given the gradual normalisation in economic activities, Malaysia projects a rebound of over 6% in 2021 with resilient fundamentals and well-diversified economy.