World Bank expects COVID-19 to leave an impact on Malaysia’s GDP
KUALA LUMPUR, April 12 (NNN-BERNAMA) — Malaysia’s gross domestic product (GDP) is projected to contract by 0.1 per cent to 4.6 per cent this year amid negative impact brought by COVID-19, according to the World Bank.
Its senior economist, finance, competitiveness, and innovation global practice, Smita Kuriakose, said the impact on Malaysia’ economy was likely to be large looking due to COVID-19’s adverse impact on foreign direct investment (FDI), commodities and tourism as well as domestic shocks due to the Movement Control Order (MCO).