Economic Outlook 2021: GDP to expand 6.5%-7.5%

TheStar Fri, Nov 06, 2020 04:00pm - 3 years View Original


KUALA LUMPUR: The Malaysian economy is projected to rebound between 6.5% and 7.5% in 2021, supported by strong economic fundamentals and well-diversified economy.

In its Economic Report 2020, the Finance Ministry, however, said the favourable outlook hinges on two major factors - the successful containment of the Covid-19 pandemic and sustained recovery in external demand.

The country’s economy contracted by 8.3% in the first half of 2020, with a decline of 17.1% in the second quarter.

The economy is expected to contract at a slower pace in the second half of the year, aided by the speedy implementation of various stimulus packages to support the people and revitalise the economy.

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