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PETALING JAYA: The pace of economic recovery in the second quarter (Q2) will shape how Malaysia’s gross domestic product (GDP) will fare in the second half of the year as the number of Covid-19 cases spike, according to economists.
The number of cases recently surpassed the 3,000-mark and this may put a dampener on the country’s economic growth projection for the year if they are not contained.
Prior to the surge in the number of cases, there were strong expectations that the economy would steam ahead in the second quarter.Bank Negara has projected a GDP growth of between 6% and 7.5% for this year after the economy contracted 5.6% in 2020.