Malaysia 2020: Expected GDP growth at 4.8%

The government remains steadfast in the belief that Malaysia will achieve an economic growth of 4.8%  in 2020 as it expects to see positive effects from its development spending latest by June 2020, according to Finance Minister, YB Lim Guan Eng.

“We are confident about maintaining the projection, supported by a rebound in the commodity prices, growth in investment spurred especially by government spending, as well as expectations of a positive outcome to the US-China trade war, ” he told Bernama.

He was commenting on the downward revisions of the 2020 growth projections by economists. Last month, the World Bank Group trimmed its forecast of the country’s gross domestic product (GDP) growth for this year to 4.5% from 4.6% previously on weakening investment and trade activity recorded in the third quarter of last year.

“There was no problem in terms of development expenditure for ongoing projects, but new projects would have to be brought forward to 2020 and added to Budget 2020 (for new developments), ” he pointed out. 

On the US-China trade war, Lim said the end of the dispute would be a booster or catalyst to spur the economy.“As an exporting economy, Malaysia will benefit. 

 /theSTAR 01-01-2020

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