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Malaysian economy to recover in 2021 on effective vaccine deployment — World Bank

by moneycompass
February 22, 2021
in Local Market News
ASEAN-5, Malaysian businesses, debt, index, industry, economic, Malaysian brands, DOSM, Malaysia, 2022 Budget
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KUALA LUMPUR – Malaysia’s economy is expected to return to positive growth this year, along with other economies globally, on sustained progress in vaccine roll-outs that will boost consumption worldwide, the World Bank Group said.

Its macroeconomics, trade and investment global practice lead economist Richard Record said the group expects that vaccine deployment can be mostly completed in 2021 in most economies, leading to a strong recovery and demand, as well as boosting trade and commodity prices.

“We are projecting a global growth of 4% this year. As for Malaysia, we project economic growth this year to range between 5.6% and 6.7%,” he said during the virtual 2021 Malaysia Economic and Strategic Outlook Forum titled: “The Post-Covid-19 New Normal — Where Do We Go From Here”.

– Bernama

 

Read more: National Immunisation Programme’s rollout will help restore investor confidence

Tags: Covid-19EconomyMalaysiaWorld Bank
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