World Bank to review again Malaysia’s 2020 GDP growth

TheStar Wed, Feb 19, 2020 08:00am - 4 years View Original


KUALA LUMPUR: The World Bank Group is reviewing Malaysia’s economic growth again for 2020, measured by gross domestic product (GDP), given the 2019 novel coronavirus (Covid-19) outbreak, said its representative to Malaysia and country manager Firas Raad.

This marks the second time that the group reviews the country’s economic growth for this year, after it revised down Malaysia’s GDP growth to 4.5% for 2020 from 4.6% previously due to weaker-than-expected investment and export growth. Notably, World Bank’s previous revision of the GDP growth was before Covid-19 hit the headlines.

However, Firas noted it is still studying the impact of the virus to the Malaysian economy due to the evolving situation, adding that it has not decided on the new GDP numbers.

“It’s natural to think that a revision of the GDP growth will be happening. We are still looking at the impact and effects of the Covid-19 outbreak. We are working on it and hopefully we will let you know soon, ” he told reporters during the sidelines of the report launch ‘A Practitioner’s Guide to Innovation Policy’.

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