World Bank projecting country’s GDP to grow by 6%

The World Bank noted that Malaysia, on the verge of becoming a high-income country, had successfully transitioned away from commodity dependence into the manufacturing sector.

KUALA LUMPUR: The World Bank is projecting the country’s gross domestic product (GDP) to grow by 6% this year, lower than its earlier forecast of 6.7%.

In its Economic Update for East Asia and the Pacific – Uneven Recovery released yesterday, the bank said the growth is expected to be supported by the gradual strengthening in domestic demand following the vaccine deployment beginning from March 2021 and a cautious improvements in external demand.