ADB revises down Malaysia’s economic growth forecast in 2021
The Asian Development Bank (ADB) has downgraded Malaysia's gross domestic product (GDP) growth forecast to 3.8 percent from 4.7 percent for 2021 and 5.9 percent from 6.1 percent next year.
Kuala Lumpur (VNA) - The AsianDevelopment Bank (ADB) has downgraded Malaysia's gross domestic product (GDP)growth forecast to 3.8 percent from 4.7 percent for 2021 and 5.9 percent from6.1 percent next year.
In its regular supplement of the Asian DevelopmentOutlook (ADO) 2021, the bank said Southeast Asia's 2021 outlook had beenrevised down by 0.1 percentage points to 3.0 percent.
Despite the decrease, Malaysia is only behindSingapore with 6.9 percent and the Philippines with 5.1 percent, but higher thanIndonesia (3.5 percent), Vietnam (2 percent) and Thailand (1 percent).
The bank also revised its economic growth outlook for Asiadown slightly to 7.0 percent this year and 5.3 percent next year.
ADB’s latest estimates compare with the bank’sSeptember forecasts of 7.1 percent growth for 2021 and 5.4 percent for 2022.Prospects for this year have been revised slightly downward for all subregions exceptCentral Asia./.
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Illustrative image (Source: themalaysianreserve)
