Malaysia’s 2021 Gross Domestic Product Growth Forecast to Be Revised Downwards: Prime Minister’s Department (Economy)

Datuk Seri Mustapa Mohamed, Minister in the Prime Minister’s Department (Economy), has stated that the Government of Malaysia is expected to lower the projection of its gross domestic product (GDP) growth for 2021, which was previously forecast at between 6.0-7.5%.

Why it Matters?

The Minister attributed this to the Movement Control Order (MCO 3.0) that is currently in force. He elaborated that there would be a definite change, but the exact percentage is still being discussed. MCO 3.0 is not expected to cause as huge a loss as MCO 1.0 did in 2020, where the impact was MYR 2.4 billion per day.

Details

The first phase of the full MCO is in place from the 1st to the 14th of June 2021, as an effort to flatten the...