Malaysia’s 2021 GDP Projections to be Supported by Economic Developments: Finance Authorities

Malaysia’s Ministry of Finance and Bank Negara Malaysia both remain positive on the country’s anticipated economic recovery in 2021, expected to range between 6.5% to 7.5%. Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz stated that given the commercialisation of a COVID-19 vaccine in the first half of 2021, the global economy will perform better. Malaysia, being a country with an open economy, is expected to benefit from these positive effects as the global economy expands.

Speaking at a media conference in Bernama on the 14th of November 2020, the Finance Minister added that the Malaysian economy was already witnessing signs of improvement due to external demand coming in the third quarter of 2...