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Malaysia cuts 2019 economic growth forecast to 4.3-4.8%
KUALA LUMPUR: Malaysia‘s central bank on Wednesday lowered its economic growth expectation for this year and forecast a significant drop in export expansion due to a slowdown in the global economy and the US-China trade war.
The economy is expected to grow 4.3-4.8% this year, Bank Negara Malaysia said in its annual report. In November, the central bank and the government had forecast 4.9% growth for 2019.
Malaysia reported 4.7% growth for last year.
The Southeast Asian nation’s exports are expected to rise 3.4% in 2019, just half of last year’s 6.8% increase, the central bank said, adding that the impact of trade tensions and moderating demand from major economies will be significant.
In November, the government projected export growth of 3.9% this year.
Inflation is expected to average between 0.7% and 1.7% this year, compared with 1% in 2018.
The central bank also said monetary policy for the year would be focused on supporting steady economic growth amid relatively low inflation.
Source: https://www.bangkokpost.com/business/world/1652012/malaysia-cuts-2019-economic-growth-forecast-to-4-3-4-8-