Economy to rebound 6-7.5% this year

The vaccine rollout is critical to the country’s economic recovery, says Bank Negara governor Nor Shamsiah Mohd Yunus, predicting that the economy will grow between 6% and 7% in 2021. – The Malaysian Insight pic by , March 31, 2021.

THE Malaysian economy is projected to expand between 6% and 7.5% in 2021 compared with a contraction of 5.6% in 2020, supported by domestic factors such as consumption and a brighter external environment fuelled by vaccine rollout.

Besides inoculation, less stringent containment measures and Covid-19, gradual improvement in labour market conditions, continued policy support for household and businesses, as well as improving external demand amid technology upcycle will drive economic recovery.

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