KUALA LUMPUR, Dec 9 (NNN-BERNAMA) — World Bank Group has revised Malaysia’s gross domestic product (GDP) growth forecast slightly down to 4.5 per cent for 2020 as compared with this year’s forecast of 4.6 per cent.
Its macroeconomics, trade and investment lead economist Richard Record said the slightly trimmed GDP forecast was largely due to weaker-than-anticipated investment and export growth in the third quarter of 2019.
“Private consumption is projected to expand at a still robust rate of 6.5 per cent next year, underpinned by stable labour market conditions, relatively benign inflation, and continued support from government measures,” he told reporters at the launch of the 21st edition of Malaysia Economic Monitor – ‘Making Ends Meet’ here, today.
