HSBC: 2021 a temporary drag, 2022 a greater rebound for Malaysia

HSBC Group has projected Malaysia’s gross domestic product (GDP) growth for 2021 at 4.1 per cent compared with an estimated 6.7 per cent earlier this year.

Its Asian economics research co-head Frederic Neumann said the recent challenges posed by the Covid-19 pandemic was restraining domestic demand growth for Malaysia.

However, Neumann highlighted that the effect was actually a temporary drag, and HSBC has a forecast of 5.4 per cent growth for Malaysia’s GDP in 2022.

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