Malaysia
Malaysian economy could shrink more than earlier forecasts, says Tengku Zafrul
Tengku Datuk Seri Zafrul Tengku Abdul Aziz who will be appointed as senator to be the finance minister vowed to give his best to the nation. u00e2u20acu201d Picture from Twitter/bernamadotcom

KUALA LUMPUR, May 2 —  Malaysia’s economy in 2020 could shrink more than initially forecast due to extended curbs on movement imposed to stem an outbreak of the new coronavirus, the finance minister said on Saturday.

Malaysia’s central bank had forecast in April for growth in gross domestic product (GDP) of between -2 per cen and 0.5 per cent this year.

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"But that forecast was made after just two weeks of movement curbs. We’re now more than five weeks in ... so our GDP could shrink even more,” Finance Minister Tengku Zafrul Tengku Abdul Aziz said in an interview with a local television channel. — Reuters

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