Malaysia lowers 2019 economic growth forecast to 4.3-4.8 percent

14:38 | 01/04/2019 Global Economy

The Malaysian central bank on March 27 downgraded its forecast for the country’s economic growth this year to 4.3-4.8 percent, from earlier projection of 4.9 percent.

The Malaysian central bank - Source: marketscreener.com

Bank Negara Malaysia (BNM) also predicted a significant drop in export expansion due to a slowdown in the global economy and the US-China trade tensions.

In November 2018, the central bank and the government had forecast a 4.9 percent economic growth for 2019, compared to an expansion of 4.7 percent recorded last year.

The country’s exports are expected to rise 3.4 percent in 2019, just half of last year's 6.8 percent increase, while Inflation will average between 0.7 percent and 1.7 percent this year, compared with 1 percent in 2018.

Total debt of Malaysia’s households by the end of 2018 decreased from the amount equivalent to 83.3 percent of GDP in 2017 to 83 percent of GDP, according to BNM.

Theo VNA