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IMF: Malaysia’s economy to rebound for rest of 2021, but faces downside risks

Sumary of IMF: Malaysia’s economy to rebound for rest of 2021, but faces downside risks:

  • — Picture by Hari Anggara KUALA LUMPUR, March 18 — Malaysia economy is expected to recover for the remainder of 2021, with inflation and the current account balance normalising over the medium term…
  • The International Monetary Fund (IMF), in its latest Country Report, said the country growth is projected to rebound to 6.5 per cent in 2021, driven by a strong recovery in the manufacturing and construction sectors, and the impact of the vaccination rollout in February…
  • The current account surplus would decline to 3.0 per cent of gross domestic product (GDP), as demand for pandemic-related equipment recedes and the rebound in domestic demand raises imports…
  • It also said the travel balance deficit would persist as international travel restrictions continue through the first half (H1) of 2021…
  • “Over the medium-term growth would converge to 5.0 per cent, inflation stabilise at 2.0 per cent, and the current account surplus return to its downward pre-pandemic path,”…

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