World Bank forecasts 3.9% growth for Malaysia

 For other Asean countries, Vietnam is expected to lead at 5.8%, followed by Indonesia at 4.7%, the Philippines at 5.3%, Cambodia at 4%, and Thailand at 1.65%.

The World Bank forecast cames after Bank Negara Malaysia said the current forecast of 4.5% to 5.5% may be revised because of US tariffs. (EPA Images pic)

KUALA LUMPUR:

 The World Bank has projected Malaysia’s gross domestic product (GDP) growth rate for this year at 3.9%, citing global challenges.

“With all possible caveats, we project Malaysia’s 2025 growth rate at 3.9%,” said the World Bank’s lead economist for Malaysia, Apurva Sanghi, in a post on X.

The World Bank has also revealed growth projections for other Asean countries, with Vietnam expected to lead at 5.8%, followed by Indonesia at 4.7%, the Philippines at 5.3%, Cambodia at 4%, and Thailand at 1.65%. China’s projected growth rate is 4%.

The World Bank forecast comes after Bank Negara Malaysia said the GDP growth forecast for 2025, currently projected between 4.5% and 5.5%, may need to be revised downward due to the impact of the US tariffs.

Earlier this week, the International Monetary Fund (IMF) had downgraded Malaysia’s growth forecast for 2025 to 4.1% from 4.7%. - FMT