IMF Sees Malaysia’s GDP To Grow By 9% In 2021.

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Despite the economy being battered by the Covid-19 outbreak, Malaysia is expected to bounce back stronger next year as the International Monetary Fund (IMF) forecasts Malaysia’s gross domestic product (GDP) to grow at a rate of 9%.

It’s expected that our GDP will grow faster than our neighbours in Asean-5, which are Indonesia (8.2%), Thailand (6.1%), the Philippines (7.6%) and Vietnam (7%), based on a report by the IMF.

The projection by the fund for Malaysia is higher than Fitch Ratings’ growth forecast of 5.8%.

However, IMF said next year’s rebound would depend heavily on the pandemic slowing down in the second half of this year, where containment efforts are reduced which can restore consumer and investor confidence.

The projected recovery is based on the premise of the policy actions taken by nations are effective in preventing companies from going bankrupt, job cuts and system-wide financial strains.

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