Malaysia’s economy now forecast to grow at between 3.2 and 4.2pc

Putrajaya today revised its GDP forecast for 2020 to between 3.2 and 4.2 per cent as it expects the worsening novel coronavirus outbreak to dent growth. — Picture by Choo Choy May
Putrajaya today revised its GDP forecast for 2020 to between 3.2 and 4.2 per cent as it expects the worsening novel coronavirus outbreak to dent growth. — Picture by Choo Choy May

PUTRAJAYA, Feb 27 — Putrajaya today revised its GDP forecast for 2020 to between 3.2 and 4.2 per cent as it expects the worsening novel coronavirus outbreak to dent growth.

Interim Prime Minister Tun Dr Mahathir Mohamad announced the revision here today after unveiling a RM20 billion stimulus package meant to help sectors affected by the pandemic stay afloat.

“Due to the global economic scenario and the impact of Covid-19, the economic growth for 2020 is forecast to be between 3.2 and 4.2 per cent,” he told the press here.

“However, I believe this stimulus package can put the economy in the highest bracket of the forecast.”

Dr Mahathir made his first official act as the interim prime minister by announcing today a RM20-billion stimulus package to brace the economy against the effects of the Covid-19 outbreak.

In a press conference that was delayed as he continued meeting politicians this afternoon, Dr Mahathir commended the country’s health workers for successfully containing Covid-19 in Malaysia.

However, he said the disease has already taken a toll on the economy, reducing visitors to the country during a crucial Visit Malaysia Year 2020, necessitating the launch of the stimulus.

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