World Bank revises Malaysia's economic growth forecast to 3.3% in 2021

KUALA LUMPUR: The World Bank has revised Malaysia’s economic growth projection to 3.3 per cent in 2021, down from the 4.5 per cent forecast in June.

It said the ongoing Movement Control Orders, increased precautionary behaviour and subdued labour market conditions were expected to weigh down further on private consumption and overall economic growth, especially for services-related sectors, which had been heavily impacted by movement restrictions.