KUALA LUMPUR, Dec 30 (Bernama) — Asia Pacific Investment Bank (APIB) CEO, Chris Wang is optimistic that with 2021 approaching, the growth and downward spiral of the economy for the past year that commenced from the Covid-19 pandemic will be on its tail end.
Malaysia’s domestic and foreign consumption are recovering according to APIB Research Division. The growth forecast for 2021 is expected to rebound to 6.6% after contracting by 5.7 percent in 2020.However this will hinge on the suppression of the spread of the COVID virus, political stability and the increase demand for our export. Due to rising domestic demand and fuel prices, the national inflation rate is predicted to rise marginally to 1.1%. On the economy, Wang is of the opinion that there be unequal pace of recovery and development in the different domestic sectors.