Observers: Malaysia Must Deal with Sagging Economy
According to observers, Malaysia must cope with a sagging economy due to the impact of the global trade tension in 2019 and strive to find a foothold before the transfer of power scheduled next year.
Prof. Yeah Kim Leng from Sunway University said after a dull 2019, the Malaysian economy will witness recovery in 2020.
Explaining his comment, the scholar said improving economic driving force and external prospect will better confidence of investors and consumers. That is also a reason why the Malaysian government has forecast that the economy will grow by 4.8 percent.
He added that the UK’s exit from the European Union will pose risks to the global trade.
Under the monetary policy statement released in November, the Malaysia central bank said the private sector’s spending will hamper economic growth in the future.