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Bloomberg
Malaysia lowered its economic growth forecast for 2019, and pledged to keep policy accommodative as global risks weigh on the trade-reliant economy.
Gross domestic product is expected to increase 4.3 percent to 4.8 percent in 2019, with trade tensions and lower commodity prices among the biggest wildcards, Bank Negara Malaysia said in its annual report on Wednesday. The projection marks a step down from the 4.9 percent expansion estimated in the government’s budget released in November, and compares with a 4.7 percent pace recorded in 2018.
The downgrade in the growth outlook was mainly due to worsening global conditions, Governor Shamsiah Yunus told reporters in Kuala Lumpur. Growth will probably come in at the lower end of the forecast range if downside risks — such as a sharper moderation in global demand and an escalation of trade tensions — become reality, she said.