{"id":8836,"date":"2021-03-26T14:15:57","date_gmt":"2021-03-26T06:15:57","guid":{"rendered":"https:\/\/newmalaysiatimes.com\/?p=8836"},"modified":"2021-03-26T14:15:59","modified_gmt":"2021-03-26T06:15:59","slug":"malaysias-gdp-to-grow-at-a-moderate-pace-of-six-percent-world-bank","status":"publish","type":"post","link":"https:\/\/newmalaysiatimes.com\/?p=8836","title":{"rendered":"Malaysia’s GDP to grow at a moderate pace of six percent: World Bank"},"content":{"rendered":"\n

KUALA LUMPUR, March 26 — Malaysia\u2019s gross domestic product (GDP) is\u00a0projected to grow by six percent in 2021, a more moderate pace than the previously estimated\u00a06.7 percent, said the World Bank.<\/p>\n\n\n\n

It said the growth is expected to be supported by the gradual strengthening in domestic demand following the vaccine deployment beginning March 2021, as well as cautious improvements in external demand. <\/p>\n\n\n\n

\u201cThe strength and timing of Malaysia\u2019s economic recovery, however, will depend largely on the timely availability of an effective mass vaccination program.<\/p>\n\n\n\n

\u201cThe vaccination programme is expected to cover at least 30 per cent of the population by August 2021,\u201d it said in the \u201cEconomic Update for East Asia and the Pacific \u2014 Uneven Recovery\u201d report released today.<\/p>\n\n\n\n

Nevertheless, the World Bank anticipated that in the medium term, output for the economy is unlikely to return to the pre-pandemic levels.<\/p>\n\n\n\n

\u201cThe growth outlook is subject to considerable downside risks. On the external front, further delays in the implementation of vaccination programs could lead to recurrent lockdowns in advanced economies and dampen global growth.<\/p>\n\n\n\n

\"world<\/figure><\/div>\n\n\n\n

\u201cUpside risks include a successful mitigation of the third wave (of infections) and an effective roll-out and implementation of vaccination programmes, which could lead to a faster than expected recovery in domestic demand and greater investor confidence,\u201d it said.<\/p>\n\n\n\n

Meanwhile, the World Bank said the number of Malaysians living below the national poverty line is projected to decrease gradually and remain at pre-pandemic levels until 2022.<\/p>\n\n\n\n

\u201cThis projection is predicated on the assumption that recovery in household employment and incomes is likely to be uneven, with tourism and other high-contact service occupations expected to be among the slowest to improve.<\/p>\n\n\n\n

\u201cThe projection is also contingent upon a substantial rebound in employment and continued government relief measures to protect poor and vulnerable households, pending the full recovery of the economy,\u201d it added.<\/p>\n\n\n\n

— BERNAMA<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

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