Malaysia is set to revise its 2021 economic growth forecast downward to around 4% due to Covid-19 movement restrictions, according to Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz. The government will adjust its previous 6%-7.5% projection amid rising cases, with the Klang Valley accounting for 60% of new infections. Political instability and lockdown costs of RM1 billion daily add pressure. Tengku Zafrul also proposed raising the debt ceiling to 65% to support stimulus funding and economic recovery efforts.MALAYSIA TO CUT 2021 GDP GROWTH OUTLOOK, LIKELY CLOSE TO 4% – TENGKU ZAFRUL
Malaysia is set to revise its 2021 economic growth forecast downward to around 4% due to Covid-19 movement restrictions, according to Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz. The government will adjust its previous 6%-7.5% projection amid rising cases, with the Klang Valley accounting for 60% of new infections. Political instability and lockdown costs of RM1 billion daily add pressure. Tengku Zafrul also proposed raising the debt ceiling to 65% to support stimulus funding and economic recovery efforts.
