403
Sorry!!
Error! We're sorry, but the page you were looking for doesn't exist.
Malaysian economic growth for 2020 revised down: World Bank
(MENAFN)
The World Bank said on Tuesday that it has revised down the expansion estimate of Malaysia for 2020 to a decline of 4.9 percent from a 3.1-percent drop earlier.
The World Bank said in its October 2020 Economic Update for East Asia and the Pacific report that "following a sharper than expected contraction in the second quarter, the 2020 growth forecast has been lowered to a real GDP contraction of 4.9 percent".
The change in the estimate shows the heightened uncertainty over the start and speed of the international recovery, that would affect investment decisions and external demand.
The bank also said that the elevated jobless rate and other weaknesses in the labor market are going to keep weighing down on private consumption.
The World Bank said on Tuesday that it has revised down the expansion estimate of Malaysia for 2020 to a decline of 4.9 percent from a 3.1-percent drop earlier.
The World Bank said in its October 2020 Economic Update for East Asia and the Pacific report that "following a sharper than expected contraction in the second quarter, the 2020 growth forecast has been lowered to a real GDP contraction of 4.9 percent".
The change in the estimate shows the heightened uncertainty over the start and speed of the international recovery, that would affect investment decisions and external demand.
The bank also said that the elevated jobless rate and other weaknesses in the labor market are going to keep weighing down on private consumption.
Legal Disclaimer:
MENAFN provides the
information “as is” without warranty of any kind. We do not accept
any responsibility or liability for the accuracy, content, images,
videos, licenses, completeness, legality, or reliability of the information
contained in this article. If you have any complaints or copyright
issues related to this article, kindly contact the provider above.
Most popular stories
Market Research
More Story
Comments
No comment